Pinterest (NYSE:PINS) Given New $42.00 Price Target at Raymond James

Pinterest (NYSE:PINS) had its price target upped by Raymond James from $34.00 to $42.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the stock.

PINS has been the topic of several other reports. KeyCorp upped their price objective on shares of Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a report on Friday. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Friday. Rosenblatt Securities raised their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group decreased their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, Wells Fargo & Company increased their target price on Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average price target of $43.86.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $40.02 on Friday. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The company has a market capitalization of $27.04 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The company has a 50-day simple moving average of $31.23 and a 200 day simple moving average of $31.57.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts forecast that Pinterest will post 0.59 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. This represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its position in Pinterest by 5.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after acquiring an additional 313 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after purchasing an additional 339 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Pinterest by 2.8% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after purchasing an additional 342 shares during the last quarter. Ethos Financial Group LLC grew its holdings in shares of Pinterest by 3.1% during the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after purchasing an additional 350 shares during the last quarter. Finally, Amalgamated Bank increased its stake in shares of Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock valued at $1,154,000 after buying an additional 372 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.