Pinterest (NYSE:PINS) Earns “Overweight” Rating from Cantor Fitzgerald

Pinterest (NYSE:PINS)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They presently have a $41.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 33.55% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a report on Thursday, September 12th. KeyCorp reduced their price objective on Pinterest from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their target price on Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Susquehanna reduced their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a report on Wednesday, July 31st. Finally, Roth Mkm dropped their price target on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.79.

Pinterest Stock Performance

Shares of PINS traded up $0.32 on Monday, reaching $30.70. The stock had a trading volume of 1,493,344 shares, compared to its average volume of 9,605,358. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 146.19, a price-to-earnings-growth ratio of 3.22 and a beta of 1.00. The company has a 50-day simple moving average of $32.58 and a 200-day simple moving average of $36.74. Pinterest has a 12-month low of $23.59 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) EPS. On average, analysts expect that Pinterest will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently made changes to their positions in PINS. Centaurus Financial Inc. purchased a new position in Pinterest in the 2nd quarter worth approximately $103,000. Sanctuary Advisors LLC bought a new stake in shares of Pinterest during the second quarter valued at approximately $3,853,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Pinterest by 10.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 271,622 shares of the company’s stock worth $11,971,000 after buying an additional 25,500 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Pinterest by 8.8% during the second quarter. Cetera Investment Advisers now owns 69,122 shares of the company’s stock worth $3,046,000 after acquiring an additional 5,587 shares during the last quarter. Finally, Truist Financial Corp grew its stake in Pinterest by 4.1% during the second quarter. Truist Financial Corp now owns 84,638 shares of the company’s stock valued at $3,730,000 after acquiring an additional 3,327 shares in the last quarter. 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.