Analysts Offer Predictions for Pinterest, Inc.’s Q2 2024 Earnings (NYSE:PINS)

Pinterest, Inc. (NYSE:PINS) – Investment analysts at Seaport Res Ptn issued their Q2 2024 earnings per share estimates for Pinterest in a note issued to investors on Wednesday, May 1st. Seaport Res Ptn analyst A. Kessler anticipates 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.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The firm had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million.

A number of other analysts have also recently commented on PINS. Susquehanna increased their price target on shares of Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Stifel Nicolaus lifted their price target on Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. BMO Capital Markets upped their price objective on Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Sanford C. Bernstein raised their price objective on Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. Finally, Wedbush increased their price target on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.82.

Pinterest Stock Performance

PINS opened at $40.41 on Monday. The business’s 50-day simple moving average is $34.79 and its 200 day simple moving average is $34.58. Pinterest has a 52-week low of $20.60 and a 52-week high of $41.60. The firm has a market capitalization of $27.44 billion, a PE ratio of 192.44, a PEG ratio of 4.64 and a beta of 0.99.

Institutional Trading of Pinterest

Several institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC lifted its holdings in shares of Pinterest by 152.3% in the fourth quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock worth $53,507,000 after buying an additional 872,016 shares in the last quarter. Nordea Investment Management AB increased its holdings in Pinterest by 57.9% in the 4th quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after acquiring an additional 323,547 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Pinterest by 3,402.0% in the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after purchasing an additional 77,974 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Pinterest by 53.1% during the 3rd quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock valued at $84,826,000 after purchasing an additional 1,089,299 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Pinterest by 55.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after purchasing an additional 62,117 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on 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 sale, the director now directly owns 31,646 shares in the company, valued at $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $36.65, for a total transaction of $733,000.00. Following the completion of the transaction, the director now owns 54,215 shares in the company, valued at $1,986,979.75. The disclosure for this sale can be found here. Insiders sold 164,471 shares of company stock worth $5,773,431 over the last quarter. 7.11% of the stock is currently owned by insiders.

About Pinterest

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.