Cantor Fitzgerald Reiterates “Overweight” Rating for Pinterest (NYSE:PINS)

Pinterest (NYSE:PINS)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $41.00 target price on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 29.50% from the company’s previous close.

A number of other equities analysts have also recently weighed in on PINS. Susquehanna decreased their price objective on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research report on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and set a $45.00 price objective on shares of Pinterest in a research note on Friday, September 13th. Robert W. Baird dropped their price objective on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 target price on shares of Pinterest in a research note on Thursday, September 12th. Finally, Barclays dropped their price target on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.87.

Pinterest Stock Performance

PINS stock opened at $31.66 on Monday. The stock has a 50-day simple moving average of $32.18 and a 200-day simple moving average of $36.68. The firm has a market cap of $21.63 billion, a P/E ratio of 150.76, a price-to-earnings-growth 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 posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) earnings per share. On average, equities research analysts predict that Pinterest will post 0.39 EPS for the current year.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 7.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinterest

Institutional investors and hedge funds have recently bought and sold shares of the stock. Centaurus Financial Inc. bought a new stake in shares of Pinterest during the 2nd quarter worth about $103,000. Sanctuary Advisors LLC acquired a new position in shares of Pinterest during the second quarter valued at approximately $3,853,000. Teachers Retirement System of The State of Kentucky raised its holdings 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 worth $11,971,000 after purchasing an additional 25,500 shares in the last quarter. Cetera Investment Advisers lifted its position in Pinterest by 8.8% in the second quarter. Cetera Investment Advisers now owns 69,122 shares of the company’s stock worth $3,046,000 after purchasing an additional 5,587 shares during the period. Finally, Truist Financial Corp boosted its stake in Pinterest by 4.1% during the 2nd quarter. Truist Financial Corp now owns 84,638 shares of the company’s stock valued at $3,730,000 after purchasing 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.