Pinterest (NYSE:PINS) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Pinterest (NYSE:PINS) posted its quarterly earnings results on Monday. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05, FiscalAI reports. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a net margin of 9.87% and a return on equity of 7.95%.

Pinterest Stock Performance

Shares of Pinterest stock traded up $0.64 on Monday, reaching $20.86. 26,369,386 shares of the company were exchanged, compared to its average volume of 18,051,395. The company’s 50-day moving average is $18.77 and its two-hundred day moving average is $23.51. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 34.20, a P/E/G ratio of 1.36 and a beta of 0.93. Pinterest has a 1-year low of $13.84 and a 1-year high of $39.93.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PINS shares. Wells Fargo & Company began coverage on shares of Pinterest in a report on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 price target on the stock. Mizuho set a $35.00 price objective on Pinterest in a research note on Tuesday, February 3rd. Barclays cut their price objective on Pinterest from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, February 13th. Argus cut Pinterest from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Morgan Stanley cut their price objective on Pinterest from $35.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.40.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 2,100 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the sale, the director directly owned 27,450 shares in the company, valued at approximately $549,000. This represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.09% of the company’s stock.

Institutional Trading of Pinterest

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its position in Pinterest by 2,017.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after acquiring an additional 1,049 shares during the period. Parallel Advisors LLC increased its position in Pinterest by 43.9% in the 4th quarter. Parallel Advisors LLC now owns 4,390 shares of the company’s stock valued at $114,000 after acquiring an additional 1,340 shares during the period. Horizon Investments LLC acquired a new stake in Pinterest in the 3rd quarter valued at approximately $139,000. Rakuten Securities Inc. increased its position in Pinterest by 819.6% in the 2nd quarter. Rakuten Securities Inc. now owns 4,120 shares of the company’s stock valued at $148,000 after acquiring an additional 3,672 shares during the period. Finally, UMB Bank n.a. increased its position in Pinterest by 323.2% in the 4th quarter. UMB Bank n.a. now owns 6,869 shares of the company’s stock valued at $178,000 after acquiring an additional 5,246 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.