Home news Pinterest gets the first overweight vote before it becomes public

Pinterest gets the first overweight vote before it becomes public

A Pinterest banner hangs on the facade of the New York Stock Exchange (NYSE) in New York City, 22 September 2017

Brendan McDermid | Reuters

A Pinterest banner hangs on the facade of the New York Stock Exchange (NYSE) in New York City, 22 September 2017

Pinterest has already received a recommendation from Wall Street and has not yet been included in public exchanges.

On Tuesday, the London-based US equity brokerage firm Atlantic Equities began coverage on Pinterest with an overweight and a price target of $ 23 at year end. This comes the day after the image sharing social network has set a price range of $ 15 to $ 17 per share for its initial public offering of 75 million shares. Pinterest will be listed under the "PIN" symbol on the New York Stock Exchange.

"We believe that the unique and highly appealing proposal of the company, which offers consumers the ability to visualize and collect visual recommendations, will enable users to grow steadily," Atlantic analyst James Cordwell said in a known to customers Tuesday.

The price range of Pinterest is seen as a discount from the company's latest market valuation on private markets, which was $ 12 billion in its latest fundraising round in 2017. The upper limit of the target range will set Pinterest to just $ 11, 3 billion.

The public offer of the social network follows Lyft's debut since his bike debut, less than two weeks ago. It was not a regular sailing for Lyft as its shares went down after the initial pop and continue to be traded below its IPO price. Others of the so-called unicorns, privately funded companies worth over $ 1 billion, are scheduled for publication this year, including Uber, Airbnb, Slack and Postmates.

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