Cantor Fitzgerald Reiterates “Overweight” Rating for Pinterest (NYSE:PINS)

Pinterest (NYSE:PINSGet Free Report)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They currently have a $41.00 target price on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 24.51% from the company’s previous close.

Several other analysts also recently commented on PINS. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. Morgan Stanley increased their price target on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Benchmark reissued a “hold” rating on shares of Pinterest in a research note on Wednesday, July 31st. Evercore ISI reduced their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Piper Sandler reiterated an “overweight” rating and set a $45.00 price target on shares of Pinterest in a research note on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Read Our Latest Report on PINS

Pinterest Trading Up 1.1 %

Shares of PINS opened at $32.93 on Monday. The company’s 50 day simple moving average is $30.86 and its 200-day simple moving average is $36.57. The firm has a market cap of $22.50 billion, a PE ratio of 156.81, a price-to-earnings-growth ratio of 2.56 and a beta of 1.01. Pinterest has a 12-month low of $23.59 and a 12-month high of $45.19.

Pinterest (NYSE:PINSGet Free Report) last issued its quarterly earnings results 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. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. Pinterest’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) EPS. As a group, equities research analysts forecast that Pinterest will post 0.39 EPS for the current fiscal year.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Pinterest by 1,188.9% during the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after buying an additional 5,524,796 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of Pinterest during the 2nd quarter worth $98,655,000. Contour Asset Management LLC boosted its holdings in shares of Pinterest by 79.5% during the fourth quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock worth $169,242,000 after purchasing an additional 2,023,500 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Pinterest by 45.7% in 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 purchasing an additional 1,798,494 shares during the period. Finally, Ninety One UK Ltd increased its stake in Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after purchasing an additional 1,679,348 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Company Profile

(Get Free Report)

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.

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