Pinterest (NASDAQ:PINS) Given New $38.00 Price Target at Wedbush

Pinterest (NASDAQ:PINS) had its price target increased by Wedbush from $33.00 to $38.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. They currently have an outperform rating on the stock.

Several other brokerages also recently commented on PINS. Citigroup restated a buy rating and issued a $38.00 target price (up previously from $34.00) on shares of Pinterest in a research note on Friday. DA Davidson boosted their target price on shares of Pinterest to $23.00 and gave the company an average rating in a research note on Monday, May 20th. Atlantic Securities assumed coverage on Pinterest in a report on Tuesday, April 9th. They issued an overweight rating and a $23.00 price target for the company. Pivotal Research reaffirmed a hold rating and issued a $32.00 price target (up from $29.00) on shares of Pinterest in a report on Friday. Finally, Susquehanna Bancshares assumed coverage on Pinterest in a report on Monday, May 6th. They issued a neutral rating and a $35.00 price target for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $31.82.

Shares of NASDAQ:PINS traded up $5.27 on Friday, hitting $33.57. The stock had a trading volume of 39,745,557 shares, compared to its average volume of 6,935,136. Pinterest has a twelve month low of $23.05 and a twelve month high of $35.29. The company has a 50 day moving average of $27.23.

Pinterest (NASDAQ:PINS) last issued its earnings results on Thursday, August 1st. The company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. The firm had revenue of $261.20 million during the quarter, compared to analyst estimates of $237.23 million. The business’s revenue was up 62.0% on a year-over-year basis.

A number of large investors have recently made changes to their positions in PINS. TimesSquare Capital Management LLC bought a new stake in Pinterest during the 2nd quarter worth about $28,899,000. DekaBank Deutsche Girozentrale bought a new stake in Pinterest during the 2nd quarter worth about $15,412,000. Janus Henderson Group PLC bought a new stake in Pinterest during the 2nd quarter worth about $11,448,000. Zweig DiMenna Associates LLC bought a new stake in Pinterest during the 2nd quarter worth about $4,536,000. Finally, Avitas Wealth Management LLC acquired a new position in shares of Pinterest during the 2nd quarter worth about $1,963,000.

Pinterest Company Profile

There is no company description available for Pinterest Inc

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Analyst Recommendations for Pinterest (NASDAQ:PINS)

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