Pinterest (NYSE:PINS) Upgraded by Guggenheim to Buy Rating

Pinterest (NYSE:PINS) was upgraded by research analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a $40.00 price objective on the stock, up from their previous price objective of $39.00. Guggenheim’s price target indicates a potential upside of 23.28% from the stock’s current price.

PINS has been the subject of a number of other research reports. The Goldman Sachs Group lifted their target price on Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Oppenheimer lifted their price objective on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays boosted their price objective on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. TD Cowen initiated coverage on shares of Pinterest in a report on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Wedbush boosted their price target on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Pinterest Stock Performance

NYSE PINS opened at $32.45 on Monday. The stock has a market cap of $22.01 billion, a PE ratio of 12.06, a P/E/G ratio of 1.95 and a beta of 1.02. The firm has a 50-day moving average of $34.39 and a 200-day moving average of $32.29. 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 (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, analysts predict that Pinterest will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total value of $3,180,906.28. Following the sale, the director now owns 6,274 shares of the company’s stock, valued at $195,497.84. The trade was a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm’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 transaction, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,812 shares of company stock valued at $6,798,857 in the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Maverick Capital Ltd. boosted its holdings in Pinterest by 47.6% in the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after acquiring an additional 18,430 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Pinterest by 8.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after purchasing an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Pinterest by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after purchasing an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pinterest by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after buying an additional 87,041 shares during the period. Finally, Leibman Financial Services Inc. raised its stake in Pinterest by 102.2% during the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock worth $1,862,000 after buying an additional 32,464 shares during the last quarter. Institutional investors and hedge funds 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.