Q2 2024 Earnings Estimate for Pinterest, Inc. (NYSE:PINS) Issued By Wedbush

Pinterest, Inc. (NYSE:PINS) – Wedbush raised their Q2 2024 earnings per share estimates for Pinterest in a note issued to investors on Wednesday, May 1st. Wedbush analyst S. Devitt now anticipates that the company will post earnings per share of $0.04 for the quarter, up from their prior estimate of $0.03. Wedbush currently has a “Neutral” rating and a $44.00 target price on the stock. The consensus estimate for Pinterest’s current full-year earnings is $0.43 per share. Wedbush also issued estimates for Pinterest’s Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.43 EPS, FY2024 earnings at $0.56 EPS and FY2025 earnings at $0.85 EPS.

PINS has been the subject of several other research reports. Roth Mkm raised their price objective on Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Benchmark reissued a “hold” rating on shares of Pinterest in a research note on Wednesday, May 1st. Piper Sandler raised their target price on shares of Pinterest from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Evercore ISI boosted their price target on Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, BMO Capital Markets upped their price target on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.82.

Pinterest Price Performance

Shares of NYSE PINS opened at $40.41 on Monday. Pinterest has a 1 year low of $20.60 and a 1 year high of $41.60. The stock has a market capitalization of $27.44 billion, a P/E ratio of 192.44, a P/E/G ratio of 4.64 and a beta of 0.99. The company’s 50-day moving average is $34.79 and its 200 day moving average is $34.58.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%.

Hedge Funds Weigh In On Pinterest

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of Pinterest during the 4th quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new position in Pinterest during the fourth quarter worth $30,000. Washington Trust Advisors Inc. raised its holdings in shares of Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after acquiring an additional 326 shares during the last quarter. Quent Capital LLC lifted its position in shares of Pinterest by 71.2% in the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after acquiring an additional 460 shares in the last quarter. Finally, Clear Street Markets LLC acquired a new stake in shares of Pinterest during the third quarter valued at $41,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares in the company, valued at $1,055,077.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is currently owned by corporate insiders.

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.