Pinterest (NYSE:PINS) Earns “Overweight” Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of Pinterest (NYSE:PINS) in a report issued on Friday, Benzinga reports. Piper Sandler currently has a $45.00 price objective on the stock.

A number of other research firms have also recently commented on PINS. Robert W. Baird lowered their price objective on shares of Pinterest from $44.00 to $41.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. Cantor Fitzgerald initiated coverage on Pinterest in a report on Thursday, September 5th. They issued an overweight rating and a $41.00 price target for the company. The Goldman Sachs Group lifted their price objective on Pinterest from $44.00 to $50.00 and gave the company a buy rating in a report on Tuesday, July 9th. Morgan Stanley increased their target price on Pinterest from $35.00 to $38.00 and gave the stock an equal weight rating in a research note on Tuesday, July 23rd. Finally, Wedbush cut their price target on shares of Pinterest from $46.00 to $37.00 and set a neutral rating on the stock in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, Pinterest presently has a consensus rating of Moderate Buy and a consensus target price of $42.50.

Pinterest Trading Up 0.1 %

NYSE:PINS opened at $28.90 on Friday. Pinterest has a 1-year low of $23.59 and a 1-year high of $45.19. The firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of 137.63, a PEG ratio of 3.27 and a beta of 1.00. The business’s 50-day moving average price is $33.57 and its two-hundred day moving average price is $36.91.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping 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 business had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same quarter last year, the firm earned ($0.04) EPS. Pinterest’s quarterly revenue was up 20.6% compared to the same quarter last year. Sell-side analysts predict that Pinterest will post 0.39 earnings per share for the current year.

Insider Activity

In related news, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, the chief accounting officer now directly owns 186,906 shares in the company, valued at approximately $8,410,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the sale, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently bought and sold shares of the stock. Brown Shipley& Co Ltd bought a new position in shares of Pinterest during the second quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new position in Pinterest during the second quarter worth about $26,000. Hexagon Capital Partners LLC raised its stake in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of Pinterest during the second quarter worth approximately $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.