Pinterest, Inc. (NYSE:PINS) Expected to Earn Q2 2024 Earnings of $0.05 Per Share

Pinterest, Inc. (NYSE:PINSFree Report) – Research analysts at Wedbush upped their Q2 2024 earnings per share (EPS) estimates for shares of Pinterest in a report issued on Monday, July 8th. Wedbush analyst S. Devitt now expects that the company will post earnings of $0.05 per share for the quarter, up from their previous estimate 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.

A number of other research analysts have also commented on the company. KeyCorp cut their price target on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Piper Sandler restated an “overweight” rating and issued a $52.00 target price on shares of Pinterest in a research note on Friday, June 14th. Royal Bank of Canada upped their price target on Pinterest from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Stifel Nicolaus upped their price target on Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Roth Mkm upped their price target on Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.37.

Check Out Our Latest Stock Analysis on Pinterest

Pinterest Stock Down 0.2 %

Shares of PINS stock opened at $43.44 on Tuesday. Pinterest has a 12 month low of $23.59 and a 12 month high of $45.19. The firm has a market cap of $29.68 billion, a PE ratio of 206.87, a price-to-earnings-growth ratio of 4.27 and a beta of 0.97. The stock has a 50 day moving average of $42.44 and a 200-day moving average of $38.16.

Pinterest (NYSE:PINSGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. The firm had revenue of $739.98 million during 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%.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the transaction, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares in the company, valued at $1,055,077.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the transaction, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The disclosure for this sale can be found here. Insiders have sold a total of 52,184 shares of company stock worth $2,255,783 over the last 90 days. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. ARK Investment Management LLC grew its holdings in shares of Pinterest by 152.3% during the fourth quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock worth $53,507,000 after buying an additional 872,016 shares in the last quarter. Nordea Investment Management AB grew its stake in Pinterest by 57.9% in the fourth quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after purchasing an additional 323,547 shares in the last quarter. International Assets Investment Management LLC grew its stake in Pinterest by 3,402.0% in the fourth quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock valued at $2,973,000 after purchasing an additional 77,974 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Pinterest by 55.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after purchasing an additional 62,117 shares in the last quarter. Finally, Raymond James Trust N.A. grew its stake in Pinterest by 48.5% in the fourth quarter. Raymond James Trust N.A. now owns 27,686 shares of the company’s stock valued at $1,025,000 after purchasing an additional 9,040 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

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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