Pinterest (NYSE:PINS) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest (NYSE:PINS) in a report released on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $43.00 target price on the stock.

A number of other research firms also recently issued reports on PINS. Morgan Stanley lifted their price objective on Pinterest from $35.00 to $38.00 and gave the stock an equal weight rating in a research note on Tuesday, July 23rd. UBS Group lowered their price objective on shares of Pinterest from $57.00 to $52.00 and set a buy rating for the company in a research report on Wednesday, July 31st. 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 report on Wednesday, July 31st. Roth Mkm reduced their target price on shares of Pinterest from $40.00 to $39.00 and set a neutral rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their target price 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.com, the company has a consensus rating of Moderate Buy and a consensus price target of $43.25.

Pinterest Stock Performance

Shares of PINS stock opened at $32.70 on Monday. Pinterest has a 52-week low of $23.59 and a 52-week high of $45.19. The firm has a market capitalization of $22.34 billion, a PE ratio of 155.71, a PEG ratio of 3.40 and a beta of 1.00. The stock has a fifty day simple moving average of $31.85 and a two-hundred day simple moving average of $36.63.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $848.75 million. During the same quarter in the prior year, the business posted ($0.04) EPS. Pinterest’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, sell-side analysts forecast that Pinterest will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC lifted its position in shares of Pinterest by 56.7% in the 4th quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock worth $3,570,000 after purchasing an additional 34,876 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Pinterest by 13.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after acquiring an additional 51,455 shares in the last quarter. Contrarius Investment Management Ltd raised its stake in shares of Pinterest by 300.0% during the 4th quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock worth $63,798,000 after acquiring an additional 1,291,854 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Pinterest by 10.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock worth $8,586,000 after acquiring an additional 22,101 shares in the last quarter. Finally, Deltec Asset Management LLC bought a new position in shares of Pinterest during the 1st quarter worth approximately $6,449,000. 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.