Equities Analysts Issue Forecasts for Pinterest, Inc.’s Q2 2024 Earnings (NYSE:PINS)

Pinterest, Inc. (NYSE:PINSFree Report) – Research analysts at Wedbush upped their Q2 2024 earnings per share (EPS) estimates for Pinterest in a research report issued on Monday, July 8th. Wedbush analyst S. Devitt now forecasts that the company will post earnings per share of $0.05 for the quarter, up from their previous forecast of $0.04. Wedbush currently has a “Neutral” rating and a $44.00 price target on the stock. The consensus estimate for Pinterest’s current full-year earnings is $0.44 per share. Wedbush also issued estimates for Pinterest’s Q4 2024 earnings at $0.44 EPS, FY2024 earnings at $0.58 EPS and FY2025 earnings at $0.88 EPS.

Several other analysts have also commented on PINS. Sanford C. Bernstein raised their price objective on shares of Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price objective on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Loop Capital raised their price objective on shares of Pinterest from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Citigroup lifted their target price on shares of Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $48.00 target price (up from $45.00) on shares of Pinterest in a report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.04.

View Our Latest Stock Analysis on PINS

Pinterest Price Performance

NYSE PINS opened at $42.75 on Tuesday. The stock has a market capitalization of $29.21 billion, a PE ratio of 203.58, a PEG ratio of 4.24 and a beta of 0.97. Pinterest has a 1 year low of $23.59 and a 1 year high of $45.19. The business’s 50-day moving average is $42.69 and its 200 day moving average is $38.24.

Pinterest (NYSE:PINSGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.05. The company had revenue of $739.98 million for the quarter, compared to analysts’ expectations of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%.

Institutional Trading of Pinterest

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in Pinterest in the 4th quarter worth $27,000. Rakuten Securities Inc. purchased a new stake in shares of Pinterest during the 4th quarter valued at about $30,000. Washington Trust Advisors Inc. raised its position in shares of Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after buying an additional 326 shares in the last quarter. Quent Capital LLC raised its position in shares of Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 460 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Pinterest during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity

In other news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total transaction of $81,711.50. Following the completion of the sale, the director now owns 29,712 shares of the company’s stock, valued at approximately $1,255,332. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of Pinterest stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total transaction of $481,590.34. Following the transaction, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total transaction of $81,711.50. Following the transaction, the director now owns 29,712 shares in the company, valued at approximately $1,255,332. The disclosure for this sale can be found here. Insiders sold a total of 52,184 shares of company stock valued at $2,255,783 in the last 90 days. Company insiders own 7.11% of the company’s stock.

About Pinterest

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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.

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Earnings History and Estimates for Pinterest (NYSE:PINS)

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