Cantor Fitzgerald Raises Pinterest (NYSE:PINS) Price Target to $48.00

Pinterest (NYSE:PINS) had its price objective increased by equities researchers at Cantor Fitzgerald from $36.00 to $48.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 20.76% from the company’s previous close.

A number of other research firms also recently issued reports on PINS. Wells Fargo & Company lifted their price target on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday. Raymond James upped their target price on Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday. Rosenblatt Securities lifted their price target on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday. KeyCorp increased their price objective on shares of Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Guggenheim upped their price target on shares of Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Friday. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.31.

Pinterest Price Performance

Shares of PINS stock traded up $6.16 during trading hours on Friday, reaching $39.75. 40,175,108 shares of the company’s stock were exchanged, compared to its average volume of 11,894,070. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market cap of $26.86 billion, a P/E ratio of 131.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.06. The company’s 50 day moving average is $31.23 and its two-hundred day moving average is $31.57.

Pinterest (NYSE:PINS) last issued its 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 return on equity of 8.37% and a net margin of 6.21%. As a group, analysts predict that Pinterest will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 32,536 shares of the company’s stock, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock valued at $589,131 in the last ninety days. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its stake in Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after purchasing an additional 313 shares during the period. Hantz Financial Services Inc. grew its holdings 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 buying an additional 339 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in 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 valued at $366,000 after buying an additional 342 shares during the period. Ethos Financial Group LLC lifted its stake in Pinterest by 3.1% in the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after acquiring an additional 350 shares in the last quarter. Finally, Amalgamated Bank boosted its position in Pinterest by 0.9% during the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock worth $1,154,000 after acquiring an additional 372 shares during the period. Institutional investors and hedge funds 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.