We Pin a Narrow Moat Rating and $22 FVE Onto Pinterest
We are initiating coverage of Pinterest with a narrow moat rating and a fair value estimate of $22 per share, or a $15 billion market capitalization based on our estimated share count. Pinterest is becoming a public company as it will sell 75 million shares at an IPO price of $19 per share according to The Wall Street Journal. The IPO price, which is above the range that the firm was seeking, represents a $13 billion market capitalization, slightly higher than Pinterest’s last post-funding valua...
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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