Deutsche Bank Aktiengesellschaft Begins Coverage on Pinterest (NYSE:PINS)

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest (NYSE:PINS) in a research note published on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $43.00 price target on the stock.

Several other research analysts have also issued reports on PINS. JPMorgan Chase & Co. cut their target price on shares of Pinterest from $44.00 to $38.00 and set a neutral rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley upped their price objective on shares of Pinterest from $35.00 to $38.00 and gave the stock an equal weight rating in a report on Tuesday, July 23rd. Wolfe Research started coverage on shares of Pinterest in a report on Tuesday, July 16th. They set a peer perform rating on the stock. Rosenblatt Securities restated a buy rating and set a $48.00 price objective on shares of Pinterest in a report on Wednesday, July 31st. Finally, Wedbush lowered their price objective on shares of Pinterest from $46.00 to $37.00 and set a neutral rating on the stock in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has an average rating of Moderate Buy and an average price target of $42.87.

Pinterest Stock Up 1.6 %

Shares of NYSE PINS opened at $32.16 on Monday. The firm has a market cap of $22.07 billion, a PE ratio of 153.15, a P/E/G ratio of 3.40 and a beta of 1.00. Pinterest has a 12-month low of $23.59 and a 12-month high of $45.19. The company’s fifty day simple moving average is $32.01 and its 200 day simple moving average is $36.66.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (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 analyst estimates of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. Pinterest’s revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) earnings per share. On average, equities analysts predict that Pinterest will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Pinterest

A number of large investors have recently modified their holdings of PINS. Wellington Management Group LLP boosted its position in shares of Pinterest by 1,188.9% in the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after acquiring an additional 5,524,796 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Pinterest by 128.2% in the first quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock valued at $193,473,000 after acquiring an additional 3,134,776 shares during the period. 1832 Asset Management L.P. bought a new stake in Pinterest during the second quarter valued at approximately $98,655,000. Contour Asset Management LLC lifted its position in Pinterest by 79.5% during the fourth quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock valued at $169,242,000 after purchasing an additional 2,023,500 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Pinterest by 45.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock valued at $198,846,000 after purchasing an additional 1,798,494 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.