Pinterest (NYSE:PINS) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Equities researchers at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pinterest (NYSE:PINS) in a report issued on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 35.82% from the company’s previous close.

Several other analysts have also recently commented on PINS. Evercore ISI decreased their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. UBS Group reduced their price objective on Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Citigroup lowered their target price on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, KeyCorp reduced their price target on Pinterest from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.87.

Pinterest Price Performance

Shares of PINS opened at $31.66 on Monday. The firm has a market capitalization of $21.63 billion, a PE ratio of 150.76, a price-to-earnings-growth ratio of 3.22 and a beta of 1.00. The company’s fifty day moving average price is $32.18 and its 200-day moving average price is $36.68. Pinterest has a 1-year low of $23.59 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same period in the prior year, the company earned ($0.04) earnings per share. The company’s revenue was up 20.6% on a year-over-year basis. As a group, research analysts anticipate that Pinterest will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

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 value of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

A number of institutional investors have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. acquired a new stake in shares of Pinterest in the 2nd quarter worth $103,000. Sanctuary Advisors LLC acquired a new stake in Pinterest during the second quarter worth about $3,853,000. Teachers Retirement System of The State of Kentucky raised its stake 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 during the period. Cetera Investment Advisers boosted its holdings in Pinterest by 8.8% in the 2nd quarter. Cetera Investment Advisers now owns 69,122 shares of the company’s stock valued at $3,046,000 after purchasing an additional 5,587 shares during the last quarter. Finally, Truist Financial Corp grew its stake in shares of Pinterest by 4.1% in the 2nd quarter. Truist Financial Corp now owns 84,638 shares of the company’s stock valued at $3,730,000 after buying an additional 3,327 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.