SG Americas Securities LLC has recently disclosed that it acquired a new position in the shares of Pinterest, Inc. during the second quarter. The company obtained 273,249 shares of Pinterest’s stock, valued at approximately $7,471,000.
In its earnings report for the second quarter, Pinterest exceeded analysts’ expectations with an EPS of ($0.04), surpassing the consensus estimate of ($0.10) $0.06. The company generated revenue of $708.03 million during the quarter.
Several research analysts have provided ratings for Pinterest’s stock. Wells Fargo & Company raised its target price for the stock to $36.00 and labeled it as “overweight.” Credit Suisse Group increased its price target to $32.00 but maintained a “neutral” rating. Rosenblatt Securities upgraded Pinterest to a “buy” rating with a price target of $35.00, while Royal Bank of Canada maintained a “sector perform” rating with a price target of $30.00. Wedbush initiated coverage on Pinterest with a “neutral” rating and a price target of $30.00.
Currently, twelve investment analysts have assigned a hold rating to Pinterest’s stock, while ten have given it a buy rating. The consensus rating for the stock is “Hold” with a consensus price target of $30.58.
While these ratings and recommendations provide valuable information for investors, it is important for them to conduct their own due diligence and consider multiple factors before making any investment decisions. The positive financial performance of Pinterest in the recent quarter is noteworthy, but its future earnings and the sentiment of analysts and investors remain to be seen.
Sources:
– SEC disclosure SG Americas Securities LLC
– Pinterest’s earnings report
– Research notes from Wells Fargo & Company, Credit Suisse Group, Rosenblatt Securities, Royal Bank of Canada, and Wedbush
– Bloomberg.com’s consensus rating and price target for Pinterest’s stock
