JPMorgan Chase & Co. Increases Pinterest (NYSE:PINS) Price Target to $44.00

Pinterest (NYSE:PINS) had its target price increased by research analysts at JPMorgan Chase & Co. from $38.00 to $44.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 9.84% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Wedbush boosted their target price on shares of Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday. Susquehanna increased their price objective on Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a report on Friday, February 9th. KeyCorp reduced their target price on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Stifel Nicolaus increased their price target on shares of Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.58.

Pinterest Price Performance

Shares of PINS traded up $6.61 during mid-day trading on Wednesday, hitting $40.06. The stock had a trading volume of 19,461,418 shares, compared to its average volume of 9,693,853. The firm has a market cap of $27.20 billion, a P/E ratio of -671.72, a PEG ratio of 4.63 and a beta of 0.99. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60. The business has a fifty day moving average price of $34.50 and a 200-day moving average price of $34.30.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The firm had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. As a group, research analysts expect that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the sale, the director now directly owns 33,580 shares in the company, valued at $1,145,078. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total value of $65,949.40. Following the transaction, the director now directly owns 33,580 shares of the company’s stock, valued at $1,145,078. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction 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 sale, the insider now directly owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,471 shares of company stock valued at $6,525,231. Corporate insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PINS. GAMMA Investing LLC bought a new position in Pinterest in the 4th quarter worth $27,000. Rakuten Securities Inc. bought a new position in Pinterest in the fourth quarter worth about $30,000. Washington Trust Advisors Inc. boosted its position in Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Pinterest during the 4th quarter worth approximately $43,000. Finally, Blue Trust Inc. raised its position in shares of Pinterest by 87.7% in the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after acquiring an additional 557 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.