Pinterest (NYSE:PINS) Price Target Raised to $39.00 at Guggenheim

Pinterest (NYSE:PINS) had its price target lifted by Guggenheim from $33.00 to $39.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on PINS. Robert W. Baird reduced their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company raised their target price on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a research note on Tuesday, December 10th. Morgan Stanley raised their price objective on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, January 10th. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Pinterest Trading Up 19.1 %

Shares of PINS opened at $40.02 on Friday. The firm has a market cap of $27.04 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.06. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The stock has a 50 day moving average of $31.23 and a 200-day moving average of $31.57.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. On average, sell-side analysts predict that Pinterest will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. This represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,157 shares of company stock worth $589,131. Insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its holdings in Pinterest by 8.8% during the 2nd quarter. Cetera Investment Advisers now owns 69,122 shares of the company’s stock valued at $3,046,000 after acquiring an additional 5,587 shares during the period. CWM LLC lifted its holdings in Pinterest by 91.5% during the 3rd quarter. CWM LLC now owns 66,685 shares of the company’s stock worth $2,159,000 after purchasing an additional 31,863 shares in the last quarter. Perpetual Ltd boosted its stake in Pinterest by 218.4% in the 3rd quarter. Perpetual Ltd now owns 35,030 shares of the company’s stock worth $1,134,000 after purchasing an additional 24,028 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Pinterest by 500.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,200 shares of the company’s stock valued at $136,000 after buying an additional 3,500 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in Pinterest by 52.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 12,295 shares of the company’s stock worth $398,000 after purchasing an additional 4,223 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.