Q2 2024 EPS Estimates for Pinterest, Inc. (NYSE:PINS) Cut by Analyst

Pinterest, Inc. (NYSE:PINS) – Analysts at Roth Capital decreased their Q2 2024 EPS estimates for Pinterest in a research note issued to investors on Wednesday, May 1st. Roth Capital analyst R. Kulkarni now expects that the company will post earnings of $0.00 per share for the quarter, down from their previous forecast of $0.01. The consensus estimate for Pinterest’s current full-year earnings is $0.43 per share. Roth Capital also issued estimates for Pinterest’s Q3 2024 earnings at $0.09 EPS, Q4 2024 earnings at $0.39 EPS, FY2024 earnings at $0.35 EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.14 EPS, Q4 2025 earnings at $0.44 EPS and FY2025 earnings at $0.50 EPS.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 4.64% and a return on equity of 5.93%.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of Pinterest from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada upped their target price on shares of Pinterest from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Stifel Nicolaus raised their price target on shares of Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. KeyCorp lowered their price objective on Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, Citigroup increased their target price on Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.82.

Pinterest Trading Down 0.2 %

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

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the 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 sale, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the sale, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors have recently modified their holdings of PINS. Geneos Wealth Management Inc. lifted its position in Pinterest by 26.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock valued at $124,000 after acquiring an additional 737 shares in the last quarter. Essex LLC lifted its holdings in shares of Pinterest by 3.6% in the first quarter. Essex LLC now owns 35,741 shares of the company’s stock valued at $1,239,000 after purchasing an additional 1,237 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of Pinterest by 66.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 4,199,415 shares of the company’s stock worth $145,594,000 after buying an additional 1,678,756 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Pinterest by 301.4% during the first quarter. Daiwa Securities Group Inc. now owns 149,303 shares of the company’s stock worth $5,176,000 after buying an additional 112,107 shares in the last quarter. Finally, Quent Capital LLC raised its position in Pinterest by 71.2% in 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 during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

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.