Pinterest (NYSE:PINS) Now Covered by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Pinterest (NYSE:PINS) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The firm set an “outperform” rating and a $45.00 price target on the stock. Oppenheimer’s price target points to a potential upside of 47.78% from the stock’s previous close.

A number of other brokerages also recently commented on PINS. Stifel Nicolaus lowered their target price on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Citigroup cut their target price on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Raymond James reduced their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Susquehanna cut their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.87.

Pinterest Price Performance

PINS stock opened at $30.45 on Tuesday. The business’s 50-day moving average is $32.36 and its two-hundred day moving average is $36.71. The firm has a market capitalization of $20.80 billion, a P/E ratio of 145.00, a P/E/G ratio of 3.22 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, beating the consensus estimate of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The firm had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same quarter last year, the company earned ($0.04) earnings per share. The firm’s revenue was up 20.6% compared to the same quarter last year. On average, analysts expect that Pinterest will post 0.39 EPS 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 Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.11% of the stock is currently owned by company insiders.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently modified their holdings of PINS. Leibman Financial Services Inc. increased its stake in shares of Pinterest by 0.9% during the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after purchasing an additional 266 shares in the last quarter. Raymond James Trust N.A. increased its position in Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after buying an additional 319 shares in the last quarter. Toronto Dominion Bank increased its position in Pinterest by 0.7% during the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after buying an additional 372 shares in the last quarter. Cornercap Investment Counsel Inc. raised its holdings in shares of Pinterest by 1.6% in the second quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock worth $1,022,000 after acquiring an additional 373 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted 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 in the last quarter. 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.