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

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pinterest (NYSE:PINS) in a research report sent to investors on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $43.00 price target on the stock.

A number of other brokerages also recently issued reports on PINS. Roth Mkm reduced their price target on Pinterest from $40.00 to $39.00 and set a neutral rating on the stock in a report on Wednesday, July 31st. Citigroup reduced their price target on Pinterest from $51.00 to $44.00 and set a buy rating on the stock in a report on Wednesday, July 31st. Susquehanna reduced their price target on Pinterest from $50.00 to $45.00 and set a positive rating on the stock in a report on Wednesday, July 31st. Wolfe Research assumed coverage on Pinterest in a report on Tuesday, July 16th. They set a peer perform rating on the stock. Finally, Morgan Stanley upped their target price on Pinterest from $35.00 to $38.00 and gave the stock an equal weight rating in a report on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest currently has an average rating of Moderate Buy and an average target price of $43.25.

Pinterest Trading Up 1.7 %

NYSE PINS opened at $32.70 on Monday. Pinterest has a 1-year low of $23.59 and a 1-year high of $45.19. The stock has a 50-day moving average of $31.85 and a 200-day moving average of $36.63. The firm has a market cap of $22.34 billion, a PE ratio of 155.71, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00.

Pinterest (NYSE:PINS) last announced its quarterly earnings results 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. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company 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 business earned ($0.04) EPS. Pinterest’s 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 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pinterest

Several hedge funds and other institutional investors have recently modified their holdings of PINS. Wellington Management Group LLP lifted its holdings in shares of Pinterest by 1,188.9% during the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after buying an additional 5,524,796 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Pinterest by 128.2% in the 1st quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock worth $193,473,000 after purchasing an additional 3,134,776 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Pinterest in the 2nd quarter worth $98,655,000. Contour Asset Management LLC increased its stake in shares of Pinterest by 79.5% in the 4th quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock worth $169,242,000 after purchasing an additional 2,023,500 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Pinterest by 45.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock worth $198,846,000 after purchasing an additional 1,798,494 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

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.