Roth Mkm Increases Pinterest (NYSE:PINS) Price Target to $40.00

Pinterest (NYSE:PINS) had its target price lifted by analysts at Roth Mkm from $38.00 to $40.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Roth Mkm’s target price suggests a potential downside of 0.99% from the stock’s current price.

A number of other research firms have also recently weighed in on PINS. BMO Capital Markets started coverage on shares of Pinterest in a report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 price target on the stock. Wedbush lifted their price target on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday. KeyCorp reduced their target price on Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Finally, Susquehanna upped their target price on Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a research report on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $40.82.

Pinterest Price Performance

Shares of NYSE:PINS traded down $0.10 on Wednesday, hitting $40.40. 9,683,897 shares of the company’s stock were exchanged, compared to its average volume of 10,157,501. The stock has a market capitalization of $27.43 billion, a price-to-earnings ratio of 192.39, a price-to-earnings-growth ratio of 5.55 and a beta of 0.99. Pinterest has a 12 month low of $20.60 and a 12 month high of $41.60. The business’s 50 day simple moving average is $34.79 and its two-hundred day simple moving average is $34.48.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Equities analysts forecast that Pinterest will post 0.36 EPS for the current fiscal year.

Insider Activity

In other news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the sale, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $36.65, for a total transaction of $733,000.00. Following the completion of the sale, the director now directly owns 54,215 shares in the company, valued at $1,986,979.75. The disclosure for this sale can be found here. Insiders sold 164,471 shares of company stock worth $5,773,431 in the last 90 days. 7.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PINS. Legacy Capital Group California Inc. grew its holdings in shares of Pinterest by 1.7% during the fourth quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after buying an additional 267 shares in the last quarter. Venture Visionary Partners LLC grew its holdings in Pinterest by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock valued at $1,816,000 after buying an additional 324 shares during the period. Washington Trust Advisors Inc. boosted its position in shares of Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after acquiring an additional 326 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Pinterest by 0.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock valued at $1,701,000 after purchasing an additional 348 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Pinterest by 40.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after purchasing an additional 378 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.