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

Pinterest, Inc. (NYSE:PINS) – Seaport Res Ptn issued their Q2 2024 earnings estimates for Pinterest in a note issued to investors on Wednesday, May 1st. Seaport Res Ptn analyst A. Kessler forecasts that the company will earn $0.03 per share for the quarter. The consensus estimate for Pinterest’s current full-year earnings is $0.43 per share. Seaport Res Ptn also issued estimates for Pinterest’s Q3 2024 earnings at $0.11 EPS, Q4 2024 earnings at $0.40 EPS and FY2024 earnings at $0.53 EPS.

Several other equities analysts have also commented on PINS. Wells Fargo & Company raised their price target on Pinterest from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Citigroup upped their price target on shares of Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. BMO Capital Markets upped their target price on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, KeyCorp reduced their price target on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Eight research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.26.

Pinterest Stock Up 1.3 %

PINS opened at $41.92 on Monday. Pinterest has a 52 week low of $20.88 and a 52 week high of $42.09. The company has a market capitalization of $28.64 billion, a P/E ratio of 199.63, a PEG ratio of 4.02 and a beta of 0.99. The stock’s fifty day moving average is $35.03 and its two-hundred day moving average is $34.79.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The business 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%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PINS. GAMMA Investing LLC acquired a new stake in shares of Pinterest during the 4th quarter valued at about $27,000. Rakuten Securities Inc. purchased a new position in Pinterest during the fourth quarter worth approximately $30,000. Washington Trust Advisors Inc. grew its holdings in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after purchasing an additional 326 shares during the period. Quent Capital LLC increased 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 buying an additional 460 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Pinterest during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other news, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 owns 392,829 shares in the company, valued at approximately $13,521,174.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,471 shares of company stock worth $5,773,431. 7.11% of the stock is owned by company 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.