Pinterest’s (PINS) Overweight Rating Reaffirmed at Cantor Fitzgerald

Pinterest (NYSE:PINS)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $41.00 target price on the stock. Cantor Fitzgerald’s target price points to a potential upside of 33.55% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Citigroup decreased their target price on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a research report on Monday. They issued a “buy” rating and a $43.00 price objective on the stock. Wells Fargo & Company dropped their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Evercore ISI decreased their price target on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 price objective on shares of Pinterest in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $42.79.

Pinterest Trading Up 1.1 %

Shares of PINS stock traded up $0.32 during trading hours on Monday, reaching $30.70. The stock had a trading volume of 1,493,344 shares, compared to its average volume of 9,605,358. The stock’s fifty day simple moving average is $32.58 and its 200 day simple moving average is $36.74. The firm has a market capitalization of $20.97 billion, a PE ratio of 146.19, a PEG ratio of 3.22 and a beta of 1.00. Pinterest has a 12 month low of $23.59 and a 12 month high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The firm had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same period in the previous year, the business earned ($0.04) EPS. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, equities research analysts anticipate that Pinterest will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Pinterest by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after buying an additional 994,848 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Pinterest by 9.5% during the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after acquiring an additional 880,398 shares in the last quarter. Capital World Investors lifted its stake in Pinterest by 0.7% in the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock worth $329,179,000 after acquiring an additional 64,270 shares during the period. Clearbridge Investments LLC boosted its holdings in Pinterest by 2.2% in the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock valued at $283,592,000 after acquiring an additional 176,540 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Pinterest by 1,188.9% during the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after purchasing an additional 5,524,796 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

About Pinterest

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.