Pinterest (NYSE:PINS) Given New $34.00 Price Target at Piper Sandler

by · The Cerbat Gem

Pinterest (NYSE:PINS – Free Report) had its target price trimmed by Piper Sandler from $41.00 to $34.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald lifted their price target on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. TD Cowen dropped their target price on Pinterest from $46.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday. Raymond James downgraded shares of Pinterest from an “overweight” rating to a “market perform” rating in a research note on Monday. Oppenheimer lifted their price objective on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada boosted their price objective on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.45.

Get Our Latest Analysis on PINS

Pinterest Trading Down 6.9 %

PINS opened at $26.20 on Thursday. The stock’s fifty day simple moving average is $33.56 and its 200 day simple moving average is $32.20. Pinterest has a 1-year low of $23.68 and a 1-year high of $45.19. The stock has a market cap of $17.77 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS – Get Free Report) last issued its quarterly earnings data 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 8.10%. Equities analysts forecast that Pinterest will post 0.6 earnings per share for the current year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the completion of the transaction, the director now directly owns 29,086 shares in the company, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the transaction, the director now owns 6,274 shares in the company, valued at approximately $195,497.84. This trade represents a 94.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 453,836 shares of company stock valued at $14,832,336 in the last 90 days. 7.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new stake in shares of Pinterest in the fourth quarter valued at about $28,000. GAMMA Investing LLC boosted its holdings in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares during the last quarter. NBC Securities Inc. boosted its holdings in Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock valued at $31,000 after acquiring an additional 999 shares during the last quarter. American National Bank & Trust acquired a new stake in Pinterest during the 1st quarter valued at approximately $32,000. Finally, Strategic Investment Solutions Inc. IL raised its holdings in Pinterest by 401.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock worth $44,000 after purchasing an additional 1,204 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

About Pinterest

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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.

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