Pinterest (NASDAQ:PINS) Lifted to Buy at Argus

Argus upgraded shares of Pinterest (NASDAQ:PINS) from a hold rating to a buy rating in a research note released on Thursday, BenzingaRatingsTable reports. The brokerage currently has $40.00 price target on the stock.

A number of other analysts have also recently commented on PINS. JPMorgan Chase & Co. started coverage on Pinterest in a research note on Monday, May 13th. They issued a neutral rating and a $32.00 price target for the company. Rosenblatt Securities reaffirmed a hold rating and issued a $31.00 price target on shares of Pinterest in a research note on Wednesday, August 7th. Goldman Sachs Group started coverage on Pinterest in a research note on Monday, May 13th. They issued a neutral rating and a $25.00 price target for the company. Robert W. Baird started coverage on Pinterest in a research note on Monday, May 13th. They issued an outperform rating and a $36.00 price target for the company. Finally, OTR Global started coverage on Pinterest in a research note on Thursday, July 25th. They issued a mixed rating for the company. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Pinterest currently has a consensus rating of Hold and a consensus price target of $32.53.

Shares of PINS stock opened at $32.22 on Thursday. The company has a 50-day moving average of $28.80. Pinterest has a one year low of $23.05 and a one year high of $36.10.



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

Institutional investors and hedge funds have recently modified their holdings of the stock. Zweig DiMenna Associates LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $4,536,000. Legacy Advisors LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $271,000. Quad Cities Investment Group LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $27,000. Moors & Cabot Inc. bought a new position in shares of Pinterest in the second quarter valued at approximately $222,000. Finally, Meridian Wealth Management LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $313,000.

About Pinterest

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