Oppenheimer Raises Pinterest (NYSE:PINS) Price Target to $50.00

Pinterest (NYSE:PINS) had its target price boosted by equities researchers at Oppenheimer from $40.00 to $50.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 26.63% from the company’s current price.

Several other research firms have also recently commented on PINS. Wells Fargo & Company increased their price target on Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, January 10th. Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Pinterest in a research note on Tuesday, January 28th. Robert W. Baird cut their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Roth Mkm dropped their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.31.

Pinterest Stock Up 17.5 %

Shares of NYSE PINS traded up $5.89 during midday trading on Friday, hitting $39.48. The stock had a trading volume of 38,871,622 shares, compared to its average volume of 11,818,846. The company has a market capitalization of $26.68 billion, a PE ratio of 131.54, a P/E/G ratio of 1.68 and a beta of 1.06. The stock has a 50 day simple moving average of $31.23 and a 200-day simple moving average of $31.57. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly 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 6.21% and a return on equity of 8.37%. As a group, analysts expect that Pinterest will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock valued at $589,131 in the last quarter. 7.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently bought and sold shares of PINS. Point72 Asset Management L.P. acquired a new position in Pinterest in the third quarter valued at approximately $153,829,000. Southpoint Capital Advisors LP acquired a new position in Pinterest in the third quarter valued at approximately $123,006,000. Ontario Teachers Pension Plan Board boosted its stake in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after acquiring an additional 2,996,750 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Pinterest during the fourth quarter valued at approximately $61,261,000. Finally, Nordea Investment Management AB raised its holdings in shares of Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after buying an additional 2,093,248 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.