Pinterest (NYSE:PINS) Stock Price Expected to Rise, Barclays Analyst Says

Pinterest (NYSE:PINS) had its price objective upped by analysts at Barclays from $36.00 to $42.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 4.96% from the company’s current price.

Other equities analysts have also issued reports about the stock. Guggenheim increased their price objective on shares of Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Friday. The Goldman Sachs Group increased their target price on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday. TD Cowen assumed coverage on shares of Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Finally, Cantor Fitzgerald raised their target price on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

Pinterest Trading Up 19.1 %

NYSE PINS traded up $6.43 on Friday, reaching $40.02. The company’s stock had a trading volume of 50,839,078 shares, compared to its average volume of 12,340,221. The firm has a market cap of $27.04 billion, a PE ratio of 133.39, a price-to-earnings-growth ratio of 1.68 and a beta of 1.06. The business has a 50-day moving average price of $31.23 and a 200 day moving average price of $31.57. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.37% and a net margin of 6.21%. Analysts anticipate that Pinterest will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the transaction, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,157 shares of company stock worth $589,131. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after purchasing an additional 156,748 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Pinterest by 0.8% in the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after buying an additional 76,920 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after buying an additional 460,708 shares in the last quarter. Finally, Ninety One UK Ltd lifted its holdings in shares of Pinterest by 5.4% in the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after buying an additional 278,362 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

About Pinterest

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.