Research Analysts Issue Forecasts for Pinterest, Inc.’s Q1 2024 Earnings (NYSE:PINS)

Pinterest, Inc. (NYSE:PINSFree Report) – Analysts at Roth Capital reduced their Q1 2024 earnings estimates for Pinterest in a research note issued to investors on Tuesday, January 30th. Roth Capital analyst R. Kulkarni now expects that the company will earn ($0.09) per share for the quarter, down from their prior estimate of ($0.07). The consensus estimate for Pinterest’s current full-year earnings is $0.11 per share. Roth Capital also issued estimates for Pinterest’s Q2 2024 earnings at ($0.01) EPS and FY2025 earnings at $0.56 EPS.

Other research analysts have also issued reports about the stock. Roth Mkm boosted their price target on shares of Pinterest from $31.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday. Royal Bank of Canada upgraded shares of Pinterest from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $32.00 to $46.00 in a research note on Monday, December 11th. Stifel Nicolaus upped their target price on shares of Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Argus upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Thursday, January 18th. Finally, Rosenblatt Securities upped their target price on shares of Pinterest from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Check Out Our Latest Analysis on Pinterest

Pinterest Trading Down 3.0 %

Shares of Pinterest stock opened at $37.47 on Thursday. Pinterest has a 52-week low of $20.60 and a 52-week high of $39.59. The company’s 50-day simple moving average is $36.22 and its 200-day simple moving average is $30.76.

Pinterest (NYSE:PINSGet Free Report) last issued its quarterly earnings results on Monday, October 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. Pinterest had a negative net margin of 7.43% and a negative return on equity of 1.98%. The business had revenue of $763.20 million for the quarter, compared to analyst estimates of $743.34 million.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $36.52, for a total transaction of $70,629.68. Following the transaction, the director now owns 37,448 shares of the company’s stock, valued at $1,367,600.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $36.52, for a total value of $70,629.68. Following the completion of the sale, the director now owns 37,448 shares of the company’s stock, valued at $1,367,600.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine Deputy sold 22,459 shares of the stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $37.27, for a total transaction of $837,046.93. Following the completion of the sale, the insider now directly owns 222,881 shares of the company’s stock, valued at approximately $8,306,774.87. The disclosure for this sale can be found here. Insiders have sold a total of 57,737 shares of company stock valued at $2,075,187 over the last quarter. Company insiders own 6.85% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Large investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new stake in Pinterest during the 4th quarter valued at $30,000. Compass Wealth Management LLC acquired a new stake in Pinterest during the 2nd quarter valued at $27,000. Cohanzick Management LLC acquired a new stake in Pinterest during the 1st quarter valued at $25,000. Washington Trust Advisors Inc. grew its holdings in Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after acquiring an additional 326 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Pinterest by 1,093.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,098 shares of the company’s stock worth $30,000 after acquiring an additional 1,006 shares in the last quarter. 72.63% of the stock is owned by institutional investors and hedge funds.

Pinterest Company Profile

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.

See Also

Earnings History and Estimates for Pinterest (NYSE:PINS)

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