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

Cantor Fitzgerald reissued their overweight rating on shares of Pinterest (NYSE:PINS) in a research report released on Monday morning, Benzinga reports. The firm currently has a $41.00 target price on the stock.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company lowered their target price on Pinterest from $49.00 to $41.00 and set an overweight rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on Pinterest from $44.00 to $50.00 and gave the company a buy rating in a research note on Tuesday, July 9th. Morgan Stanley lifted their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock an equal weight rating in a research note on Tuesday, July 23rd. Evercore ISI dropped their price target on shares of Pinterest from $50.00 to $48.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. Finally, KeyCorp cut their price target on shares of Pinterest from $45.00 to $43.00 and set an overweight rating on the stock in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, Pinterest has a consensus rating of Moderate Buy and an average price target of $43.25.

Pinterest Price Performance

Shares of PINS opened at $32.78 on Monday. The firm has a market cap of $22.49 billion, a P/E ratio of 156.08, a P/E/G ratio of 2.51 and a beta of 1.00. Pinterest has a 1 year low of $23.59 and a 1 year high of $45.19. The stock has a 50 day simple moving average of $31.13 and a two-hundred day simple moving average of $36.58.

Pinterest (NYSE:PINS) last released its 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. The company had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.04) EPS. On average, equities analysts anticipate that Pinterest will post 0.39 earnings per share for the current year.

Insider Activity at Pinterest

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Shipley& Co Ltd purchased a new position in Pinterest in the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new stake in Pinterest in the 2nd quarter worth about $26,000. Hexagon Capital Partners LLC raised its position in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC lifted its stake in Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in shares of Pinterest during the 2nd quarter valued at about $35,000. 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.