Pinterest (NYSE:PINS – Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01, Briefing.com reports. Pinterest had a return on equity of 7.04% and a net margin of 5.75%. The firm had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The business’s revenue was up 20.6% on a year-over-year basis. Pinterest updated its Q3 2024 guidance to EPS.
Pinterest Price Performance
Shares of PINS stock traded down $2.01 during trading hours on Friday, reaching $29.23. 14,729,656 shares of the company’s stock were exchanged, compared to its average volume of 9,633,962. The company has a market cap of $19.97 billion, a P/E ratio of 148.77, a price-to-earnings-growth ratio of 3.12 and a beta of 0.97. The company’s 50 day moving average is $41.72 and its two-hundred day moving average is $38.44. Pinterest has a 1 year low of $23.59 and a 1 year high of $45.19.
Insider Transactions at Pinterest
In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the transaction, the insider now directly owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the sale, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the sale, 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. In the last three months, insiders sold 50,250 shares of company stock valued at $2,191,304. Corporate insiders own 7.11% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on Pinterest
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.
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