Pinterest (NYSE:PINS) Price Target Raised to $25.00 at Citigroup

Pinterest (NYSE:PINSGet Rating) had its target price upped by Citigroup from $24.00 to $25.00 in a report issued on Tuesday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research analysts also recently commented on the stock. Barclays decreased their target price on shares of Pinterest from $24.00 to $20.00 and set an equal weight rating on the stock in a research note on Tuesday, July 5th. JPMorgan Chase & Co. reduced their price objective on shares of Pinterest from $32.00 to $26.00 and set a neutral rating on the stock in a research report on Wednesday, June 29th. Wells Fargo & Company reduced their price objective on shares of Pinterest from $37.00 to $34.00 and set an overweight rating on the stock in a research report on Tuesday. Evercore ISI boosted their price objective on shares of Pinterest from $24.00 to $28.00 and gave the company an in-line rating in a research report on Tuesday. Finally, Atlantic Securities set a $22.00 price objective on shares of Pinterest in a research report on Tuesday, July 19th. Nineteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest has a consensus rating of Hold and a consensus target price of $29.76.

Pinterest Stock Up 0.1 %

Shares of NYSE PINS opened at $22.55 on Tuesday. Pinterest has a 52 week low of $16.14 and a 52 week high of $66.00. The firm’s fifty day moving average is $19.58 and its 200 day moving average is $22.57. The company has a market cap of $14.96 billion, a price-to-earnings ratio of 72.74, a PEG ratio of 13.36 and a beta of 1.19.

Pinterest (NYSE:PINSGet Rating) last issued its earnings results on Monday, August 1st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.06). Pinterest had a return on equity of 8.35% and a net margin of 8.10%. The firm had revenue of $666.00 million during the quarter, compared to analysts’ expectations of $663.19 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Pinterest will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Evan Sharp sold 55,241 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $26.80, for a total transaction of $1,480,458.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Pinterest news, SVP Naveen Gavini sold 5,491 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $20.00, for a total transaction of $109,820.00. Following the transaction, the senior vice president now owns 529,551 shares in the company, valued at approximately $10,591,020. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Evan Sharp sold 55,241 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $26.80, for a total transaction of $1,480,458.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 548,619 shares of company stock worth $10,307,146. Company insiders own 7.58% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Hedge funds and other institutional investors have recently made changes to their positions in the business. KRS Capital Management LLC purchased a new stake in shares of Pinterest during the 4th quarter valued at about $26,000. Sandy Cove Advisors LLC purchased a new stake in Pinterest in the 4th quarter worth approximately $33,000. Cohanzick Management LLC purchased a new stake in Pinterest in the 1st quarter worth approximately $25,000. Covestor Ltd purchased a new stake in Pinterest in the 4th quarter worth approximately $46,000. Finally, Allworth Financial LP increased its holdings in Pinterest by 134.4% in the 2nd quarter. Allworth Financial LP now owns 1,390 shares of the company’s stock worth $25,000 after acquiring an additional 797 shares in the last quarter. Hedge funds and other institutional investors own 63.76% of the company’s stock.

About Pinterest

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

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