Oppenheimer Initiates Coverage on Pinterest (NYSE:PINS)

Oppenheimer began coverage on shares of Pinterest (NYSE:PINS) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $45.00 price objective on the stock.

PINS has been the subject of several other research reports. KeyCorp lowered their target price on Pinterest from $45.00 to $43.00 and set an overweight rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada reissued an outperform rating and issued a $48.00 price target on shares of Pinterest in a research report on Thursday, September 12th. Wedbush reduced their target price on shares of Pinterest from $46.00 to $37.00 and set a neutral rating on the stock in a research note on Wednesday, July 31st. Robert W. Baird decreased their price target on Pinterest from $44.00 to $41.00 and set an outperform rating on the stock in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $48.00 price target on shares of Pinterest in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $43.25.

Pinterest Trading Down 0.7 %

Shares of Pinterest stock opened at $32.49 on Tuesday. The stock has a 50-day moving average price of $31.85 and a 200 day moving average price of $36.63. The company has a market cap of $22.20 billion, a P/E ratio of 154.71, a P/E/G ratio of 3.40 and a beta of 1.00. Pinterest has a 1 year low of $23.59 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business’s revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS. On average, equities analysts forecast that Pinterest will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC increased its position in shares of Pinterest by 40.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after acquiring an additional 378 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Pinterest by 17.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,451 shares of the company’s stock valued at $572,000 after buying an additional 2,285 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Pinterest by 56.7% in the fourth quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock valued at $3,570,000 after buying an additional 34,876 shares during the period. US Bancorp DE boosted its stake in shares of Pinterest by 113.0% in the fourth quarter. US Bancorp DE now owns 26,081 shares of the company’s stock valued at $966,000 after buying an additional 13,835 shares during the period. Finally, Advisory Services Network LLC lifted its stake in Pinterest by 14.9% during the fourth quarter. Advisory Services Network LLC now owns 15,365 shares of the company’s stock worth $569,000 after purchasing an additional 1,994 shares during the last quarter. 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.