Equities Analysts Set Expectations for Pinterest, Inc.’s Q2 2024 Earnings (NYSE:PINS)

Pinterest, Inc. (NYSE:PINS) – Analysts at Seaport Res Ptn issued their Q2 2024 earnings estimates for shares of Pinterest in a research note issued on Wednesday, May 1st. Seaport Res Ptn analyst A. Kessler forecasts that the company will post earnings per share of $0.03 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.

Other research analysts also recently issued research reports about the company. Piper Sandler lifted their price target on Pinterest from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Susquehanna upped their price target on shares of Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a report on Friday, February 9th. Roth Mkm raised their price objective on shares of Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. BMO Capital Markets upped their target price on Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on Pinterest from $38.00 to $44.00 and gave the stock 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 given a buy rating to the company’s stock. According to MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $41.26.

Pinterest Stock Performance

Shares of PINS stock opened at $41.92 on Monday. The stock has a fifty day moving average price of $35.03 and a 200 day moving average price of $34.79. The stock has a market cap of $28.64 billion, a PE ratio of 199.63, a P/E/G ratio of 4.02 and a beta of 0.99. Pinterest has a 1 year low of $20.88 and a 1 year high of $42.09.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $981.26 million during 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%.

Insiders Place Their Bets

In related news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total value 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 disclosure for this sale can be found here. Insiders sold 164,471 shares of company stock worth $5,773,431 over the last three months. 7.11% of the stock is owned by insiders.

Institutional Trading of Pinterest

Several large investors have recently bought and sold shares of PINS. ARK Investment Management LLC boosted its holdings in Pinterest by 152.3% in the fourth quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock valued at $53,507,000 after purchasing an additional 872,016 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Pinterest by 57.9% during the fourth quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock worth $32,766,000 after buying an additional 323,547 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Pinterest by 3,402.0% in the fourth quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after buying an additional 77,974 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Pinterest by 53.1% in the third quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock valued at $84,826,000 after acquiring an additional 1,089,299 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Pinterest by 55.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after acquiring an additional 62,117 shares during the last quarter. Institutional investors and hedge funds 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.