Pinterest’s (PINS) “Buy” Rating Reiterated at Guggenheim

Pinterest (NYSE:PINS)‘s stock had its “buy” rating restated by analysts at Guggenheim in a research report issued to clients and investors on Tuesday,Benzinga reports.

PINS has been the topic of several other research reports. Wedbush lifted their target price on shares of Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada lifted their target price on Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. KeyCorp reduced their price target on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, February 7th. Finally, Piper Sandler reiterated a “neutral” rating and set a $41.00 target price (up previously from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Pinterest Price Performance

Shares of PINS traded up $0.32 during mid-day trading on Tuesday, reaching $31.32. 1,910,048 shares of the company’s stock traded hands, compared to its average volume of 10,034,704. The stock has a market cap of $21.24 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.95 and a beta of 1.02. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The stock’s 50-day moving average is $34.67 and its two-hundred day moving average is $32.42.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Research analysts predict that Pinterest will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares of the company’s stock, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,753 shares of company stock valued at $11,640,201 in the last three months. 7.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Norges Bank purchased a new stake in Pinterest in the 4th quarter worth about $358,205,000. Marshall Wace LLP lifted its stake in shares of Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after buying an additional 6,129,985 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Pinterest in the third quarter worth $153,829,000. Finally, Ameriprise Financial Inc. grew its holdings in Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after buying an additional 4,527,902 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.