Pinterest (NYSE:PINS – Get Free Report)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $41.00 target price on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 26.74% from the company’s current price.
Other analysts also recently issued reports about the stock. Wells Fargo & Company reduced their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and issued a $45.00 target price on shares of Pinterest in a report on Friday, September 13th. 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. Robert W. Baird reduced their target price on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group boosted their target price on shares of Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.
Check Out Our Latest Stock Analysis on Pinterest
Pinterest Stock Down 0.4 %
Pinterest (NYSE:PINS – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The business 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 business’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.04) EPS. As a group, analysts expect that Pinterest will post 0.39 EPS for the current year.
Hedge Funds Weigh In On Pinterest
A number of hedge funds have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. purchased a new stake in shares of Pinterest in the 2nd quarter worth approximately $103,000. Sanctuary Advisors LLC purchased a new stake in Pinterest during the second quarter valued at approximately $3,853,000. Teachers Retirement System of The State of Kentucky lifted its position in Pinterest by 10.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 271,622 shares of the company’s stock valued at $11,971,000 after acquiring an additional 25,500 shares during the last quarter. Cetera Investment Advisers lifted its position in Pinterest by 8.8% during the second quarter. Cetera Investment Advisers now owns 69,122 shares of the company’s stock valued at $3,046,000 after acquiring an additional 5,587 shares during the last quarter. Finally, Truist Financial Corp lifted its position 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 during the last quarter. 88.81% of the stock is currently owned by institutional investors.
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.
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