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

Pinterest (NYSE:PINS)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $41.00 target price on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 25.13% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. UBS Group dropped their target price on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Susquehanna dropped their target price on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Wednesday, July 31st. Finally, Oppenheimer assumed coverage on shares of Pinterest in a research report on Tuesday, September 24th. They set an “outperform” rating and a $45.00 target price on the stock. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Pinterest Stock Up 1.2 %

Shares of Pinterest stock opened at $32.77 on Monday. The firm’s 50 day moving average price is $31.50 and its 200-day moving average price is $36.62. Pinterest has a 52-week low of $23.59 and a 52-week high of $45.19. The company has a market cap of $22.38 billion, a P/E ratio of 155.38, a PEG ratio of 3.53 and a beta of 1.00.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $848.75 million. During the same quarter in the previous year, the firm earned ($0.04) EPS. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, equities research analysts forecast that Pinterest will post 0.39 EPS for the current fiscal year.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Large investors have recently added to or reduced their stakes in the stock. Brown Shipley& Co Ltd acquired a new position in Pinterest during the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Pinterest in the second quarter valued at about $26,000. Hexagon Capital Partners LLC raised its position in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of Pinterest in the second quarter valued at about $35,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

About Pinterest

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.