The Goldman Sachs Group Issues Positive Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price objective increased by The Goldman Sachs Group from $42.00 to $47.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Wedbush reissued an “outperform” rating and issued a $38.00 target price on shares of Pinterest in a research report on Tuesday, January 28th. Raymond James lifted their price target on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a report on Tuesday, December 10th. Finally, Morgan Stanley upped their price target on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Eight research 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, the stock has an average rating of “Moderate Buy” and an average price target of $43.86.

Pinterest Stock Performance

Shares of PINS opened at $40.02 on Friday. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a market capitalization of $27.04 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The stock has a fifty day moving average of $31.23 and a two-hundred day moving average of $31.57.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. As a group, equities research analysts forecast that Pinterest will post 0.59 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other news, 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. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the sale, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Several large investors have recently added to or reduced their stakes in the company. Founders Financial Alliance LLC increased its stake in Pinterest by 5.9% during the fourth quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company’s stock valued at $292,000 after purchasing an additional 560 shares during the last quarter. Clare Market Investments LLC acquired a new position in shares of Pinterest in the 4th quarter valued at about $252,000. Independent Advisor Alliance boosted its holdings in shares of Pinterest by 26.3% in the 4th quarter. Independent Advisor Alliance now owns 10,916 shares of the company’s stock valued at $317,000 after buying an additional 2,274 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Pinterest by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 65,496 shares of the company’s stock valued at $1,900,000 after buying an additional 1,335 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Pinterest by 167.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 331,899 shares of the company’s stock worth $9,625,000 after acquiring an additional 207,917 shares during the period. 88.81% of the stock is currently owned by 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.