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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Pinterest (NYSE:PINS) in a research note released on Monday morning, Benzinga reports. They currently have a $41.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the stock. Rosenblatt Securities reiterated a buy rating and set a $48.00 price target on shares of Pinterest in a report on Wednesday, July 31st. Evercore ISI cut their target price on Pinterest from $50.00 to $48.00 and set an outperform rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on Pinterest from $44.00 to $38.00 and set a neutral rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their price objective on Pinterest from $46.00 to $45.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. Finally, Wedbush reduced their price objective on Pinterest from $46.00 to $37.00 and set a neutral rating for the company in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $42.87.

Pinterest Stock Up 1.6 %

PINS stock opened at $32.16 on Monday. The business has a 50 day moving average of $32.01 and a 200 day moving average of $36.66. The firm has a market cap of $22.07 billion, a PE ratio of 153.15, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00. Pinterest has a twelve month low of $23.59 and a twelve month high of $45.19.

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

Institutional Inflows and Outflows

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