Pinterest (PINS) closed at $37.55 in the latest trading session, marking a -0.87% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.11%. At the same time, the Dow added 1.64%, and the tech-heavy Nasdaq gained 1.03%.
Coming into today, shares of the digital pinboard and shopping tool company had lost 14.14% in the past month. In that same time, the Computer and Technology sector lost 5.32%, while the S&P 500 lost 1.16%.
Investors will be eagerly watching for the performance of Pinterest in its upcoming earnings disclosure. The company’s earnings report is set to be unveiled on July 30, 2024. It is anticipated that the company will report an EPS of $0.28, marking a 33.33% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $847.84 million, indicating a 19.75% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.46 per share and revenue of $3.67 billion. These totals would mark changes of +33.94% and +20.12%, respectively, from last year.
Any recent changes to analyst estimates for Pinterest should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we’ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.51% higher. Pinterest presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Pinterest has a Forward P/E ratio of 26.03 right now. This expresses a discount compared to the average Forward P/E of 31.06 of its industry.
One should further note that PINS currently holds a PEG ratio of 1.11. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. The average PEG ratio for the Internet – Software industry stood at 1.79 at the close of the market yesterday.
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The Internet – Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don’t forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Pinterest, Inc. (PINS) : Free Stock Analysis Report
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