Pinterest’s (PINS) Overweight Rating Reaffirmed at Cantor Fitzgerald

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

Several other equities analysts have also issued reports on the company. Wolfe Research began coverage on Pinterest in a research note on Tuesday, July 16th. They set a peer perform rating on the stock. Piper Sandler reissued an overweight rating and set a $45.00 target price on shares of Pinterest in a research note on Friday, September 13th. Wells Fargo & Company cut their price target on Pinterest from $49.00 to $41.00 and set an overweight rating on the stock in a report on Wednesday, July 31st. Roth Mkm cut their price target on Pinterest from $40.00 to $39.00 and set a neutral rating on the stock in a report on Wednesday, July 31st. Finally, KeyCorp cut their price target on Pinterest from $45.00 to $43.00 and set an overweight rating on the stock in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $43.25.

Pinterest Stock Performance

NYSE PINS opened at $32.37 on Monday. The stock’s fifty day moving average is $31.68 and its two-hundred day moving average is $36.63. The firm has a market capitalization of $22.21 billion, a P/E ratio of 154.39, a price-to-earnings-growth ratio of 3.53 and a beta of 1.00. Pinterest has a fifty-two week low of $23.59 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating 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 business had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same quarter in the prior year, the company posted ($0.04) EPS. The company’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, sell-side analysts forecast that Pinterest will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Centaurus Financial Inc. acquired a new position in Pinterest in the second quarter valued at $103,000. Sanctuary Advisors LLC acquired a new position in Pinterest in the second quarter valued at $3,853,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Pinterest by 10.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 271,622 shares of the company’s stock valued at $11,971,000 after acquiring an additional 25,500 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Pinterest by 8.8% in the second quarter. Cetera Investment Advisers now owns 69,122 shares of the company’s stock valued at $3,046,000 after acquiring an additional 5,587 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in Pinterest by 4.1% in the second quarter. Truist Financial Corp now owns 84,638 shares of the company’s stock valued at $3,730,000 after acquiring an additional 3,327 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

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.