Pinterest (NYSE:PINS) Price Target Raised to $46.00 at KeyCorp

Pinterest (NYSE:PINS) had its target price raised by KeyCorp from $37.00 to $46.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on PINS. Morgan Stanley raised their target price on shares of Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Friday. Guggenheim upped their price objective on shares of Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Friday. Piper Sandler reaffirmed a “neutral” rating and set a $41.00 target price (up from $36.00) on shares of Pinterest in a research note on Friday. Finally, Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Pinterest in a report on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $43.86.

Pinterest Stock Performance

Shares of Pinterest stock opened at $40.02 on Friday. The firm has a 50-day simple moving average of $31.23 and a two-hundred day simple moving average of $31.57. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a market cap 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.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share 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%. Equities research analysts forecast that Pinterest will post 0.59 EPS for the current year.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares in the company, valued at approximately $920,081.48. The trade was a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction 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 $4,893,491.84. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock worth $589,131 over the last ninety days. 7.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

Large investors have recently added to or reduced their stakes in the stock. Maverick Capital Ltd. grew its stake in shares of 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 buying an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in 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 acquiring an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA grew its position in Pinterest by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after acquiring an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 valued at $137,669,000 after purchasing an additional 87,041 shares during the period. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of Pinterest by 20.3% during the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after purchasing an additional 68,096 shares in 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.