Roth Capital Weighs in on Pinterest, Inc.’s Q3 2024 Earnings (NYSE:PINS)

Pinterest, Inc. (NYSE:PINS) – Investment analysts at Roth Capital lowered their Q3 2024 earnings per share (EPS) estimates for Pinterest in a note issued to investors on Wednesday, July 31st. Roth Capital analyst R. Kulkarni now expects that the company will post earnings of $0.08 per share for the quarter, down from their previous estimate of $0.09. The consensus estimate for Pinterest’s current full-year earnings is $0.44 per share. Roth Capital also issued estimates for Pinterest’s Q4 2024 earnings at $0.35 EPS, FY2024 earnings at $0.29 EPS, Q1 2025 earnings at ($0.02) EPS and Q2 2025 earnings at $0.05 EPS.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS.

PINS has been the topic of a number of other research reports. Wedbush dropped their price target on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Barclays dropped their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley boosted their target price on shares of Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. BMO Capital Markets raised 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. Finally, Roth Mkm cut their price objective on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $42.71.

Pinterest Stock Performance

NYSE PINS opened at $28.85 on Monday. Pinterest has a one year low of $23.59 and a one year high of $45.19. The stock has a 50-day moving average of $40.96 and a 200 day moving average of $38.28. The company has a market capitalization of $19.71 billion, a price-to-earnings ratio of 137.39, a PEG ratio of 3.13 and a beta of 0.97.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on Wednesday, May 15th. The stock was 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 of the company’s stock, valued at approximately $1,255,332. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Pinterest news, 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 transaction of $81,711.50. Following the completion of the transaction, the director now owns 29,712 shares in the company, valued at $1,255,332. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total transaction of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares in the company, valued at $8,317,733. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,250 shares of company stock valued at $2,191,304. 7.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest in the 2nd quarter worth approximately $26,000. GAMMA Investing LLC purchased a new position in Pinterest during the fourth quarter worth $27,000. Rakuten Securities Inc. purchased a new position in Pinterest during the fourth quarter worth $30,000. Hexagon Capital Partners LLC increased its position in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Pinterest in the second quarter valued at $35,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.