Cantor Fitzgerald Issues Positive Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its target price boosted by Cantor Fitzgerald from $36.00 to $48.00 in a research report released on Friday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Several other research firms also recently commented on PINS. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, January 10th. Wells Fargo & Company boosted their price target on Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday. Rosenblatt Securities raised their price objective on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and upped their target price for the company from $34.00 to $47.00 in a research report on Friday. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Pinterest in a report on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.86.

Pinterest Price Performance

Shares of NYSE:PINS opened at $40.02 on Friday. The business’s 50-day moving average is $31.23 and its 200 day moving average is $31.57. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The firm has a market capitalization of $27.04 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.72 and a beta of 1.06.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. On average, analysts expect that Pinterest will post 0.59 EPS for the current year.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now directly owns 32,536 shares of the company’s stock, valued at $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock worth $589,131 over the last 90 days. 7.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

Several hedge funds and other institutional investors have recently modified their holdings of the business. Whipplewood Advisors LLC acquired a new stake in Pinterest in the 4th quarter valued at about $28,000. GAMMA Investing LLC grew its position in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Pinterest in the third quarter valued at approximately $37,000. Crewe Advisors LLC increased its holdings in shares of Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after buying an additional 1,487 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.