Pinterest (NYSE:PINS) Rating Reiterated by Cantor Fitzgerald

Pinterest (NYSE:PINS)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $41.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 24.51% from the stock’s previous close.

PINS has been the subject of a number of other research reports. Citigroup cut their price objective on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 price objective for the company. Robert W. Baird decreased their target price on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company cut their price target on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. 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. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average price target of $43.25.

Pinterest Trading Up 1.1 %

PINS opened at $32.93 on Monday. The firm has a 50 day moving average of $30.86 and a two-hundred day moving average of $36.57. The firm has a market capitalization of $22.50 billion, a PE ratio of 156.81, a P/E/G 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:PINS) last announced 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. 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 period last year, the business earned ($0.04) earnings per share. Pinterest’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, analysts predict that Pinterest will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 7.11% of the stock is owned by insiders.

Institutional Trading of Pinterest

Hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Pinterest by 13.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after purchasing an additional 51,455 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Pinterest by 10.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock valued at $8,586,000 after buying an additional 22,101 shares in the last quarter. Deltec Asset Management LLC purchased a new stake in Pinterest during the 1st quarter worth about $6,449,000. Russell Investments Group Ltd. lifted its holdings in Pinterest by 38.0% during the 1st quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock worth $21,358,000 after buying an additional 169,052 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in shares of Pinterest during the 2nd quarter worth about $5,045,000. Institutional investors and hedge funds 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.