Pinterest (NYSE:PINS) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Pinterest (NYSE:PINS) in a report published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $41.00 price target on the stock.

Several other research analysts have also recently issued reports on PINS. Benchmark reiterated a hold rating on shares of Pinterest in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on Pinterest in a research report on Monday. They set a buy rating and a $43.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Pinterest from $44.00 to $38.00 and set a neutral rating for the company in a report on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on Pinterest from $44.00 to $50.00 and gave the stock a buy rating in a report on Tuesday, July 9th. Finally, Piper Sandler reissued an overweight rating and issued a $45.00 price target on shares of Pinterest in a report on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $43.25.

Pinterest Trading Up 1.7 %

Shares of NYSE PINS opened at $32.70 on Monday. The stock has a 50 day simple moving average of $31.85 and a 200-day simple moving average of $36.63. The company has a market cap of $22.34 billion, a PE ratio of 155.71, a P/E/G ratio of 3.40 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. During the same quarter in the prior year, the business posted ($0.04) earnings per share. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. Sell-side analysts forecast that Pinterest will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Pinterest

Several institutional investors have recently made changes to their positions in PINS. Wellington Management Group LLP lifted its position in Pinterest by 1,188.9% in the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock worth $221,850,000 after buying an additional 5,524,796 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Pinterest by 128.2% during the first quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock worth $193,473,000 after acquiring an additional 3,134,776 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in Pinterest during the second quarter valued at $98,655,000. Contour Asset Management LLC grew its stake in Pinterest by 79.5% in the fourth quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock valued at $169,242,000 after purchasing an additional 2,023,500 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Pinterest by 45.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock worth $198,846,000 after purchasing an additional 1,798,494 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.