Pinterest (NYSE:PINS) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Pinterest (NYSE:PINS) in a report issued on Tuesday, Briefing.com reports. The brokerage set an “outperform” rating and a $45.00 price target on the stock. Oppenheimer’s target price indicates a potential upside of 47.78% from the company’s current price.

Several other analysts have also commented on PINS. Roth Mkm dropped their price objective on Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a research note on Thursday, September 12th. Robert W. Baird reduced their price objective on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 price objective on shares of Pinterest in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $41.00 target price on shares of Pinterest in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.87.

Pinterest Price Performance

PINS opened at $30.45 on Tuesday. The firm has a fifty day moving average price of $32.36 and a 200 day moving average price of $36.71. Pinterest has a 1 year low of $23.59 and a 1 year high of $45.19. The stock has a market cap of $20.80 billion, a P/E ratio of 145.00, a P/E/G ratio of 3.22 and a beta of 1.00.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping 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 business had revenue of $853.68 million during the quarter, compared to the consensus estimate of $848.75 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. The company’s revenue was up 20.6% compared to the same quarter last year. Equities analysts expect that Pinterest will post 0.39 EPS for the current year.

Insider Activity

In other Pinterest 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 value of $1,343,826.40. Following the transaction, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Shipley& Co Ltd acquired a new stake in shares of Pinterest in the second quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Pinterest during the second quarter worth about $26,000. Hexagon Capital Partners LLC lifted its position in shares of Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of Pinterest in the second quarter valued at approximately $35,000. 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.