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

Pinterest, Inc. (NYSE:PINS) – Equities research analysts at Roth Capital lowered their Q2 2024 EPS estimates for Pinterest in a report issued on Wednesday, May 1st. Roth Capital analyst R. Kulkarni now forecasts that the company will post earnings of $0.00 per share for the quarter, down from their previous forecast of $0.01. The consensus estimate for Pinterest’s current full-year earnings is $0.43 per share. Roth Capital also issued estimates for Pinterest’s Q3 2024 earnings at $0.09 EPS, Q4 2024 earnings at $0.39 EPS, FY2024 earnings at $0.35 EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.14 EPS, Q4 2025 earnings at $0.44 EPS and FY2025 earnings at $0.50 EPS.

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

Several other equities research analysts have also recently weighed in on the stock. 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 report on Friday, February 9th. Benchmark reissued a “hold” rating on shares of Pinterest in a research note on Wednesday, May 1st. BMO Capital Markets upped their price target on Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price objective on Pinterest from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Citigroup upped their target price on Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and a consensus target price of $41.26.

Pinterest Stock Performance

NYSE:PINS opened at $41.38 on Monday. Pinterest has a fifty-two week low of $20.88 and a fifty-two week high of $41.60. The business has a 50 day moving average price of $34.90 and a 200-day moving average price of $34.68. The firm has a market cap of $28.27 billion, a PE ratio of 197.06, a price-to-earnings-growth ratio of 4.02 and a beta of 0.99.

Insider Transactions at Pinterest

In other Pinterest news, 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 transaction of $64,479.56. Following the completion of the sale, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $35.08, for a total transaction of $701,600.00. Following the transaction, the director now directly owns 34,215 shares of the company’s stock, valued at $1,200,262.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction 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 sale, 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. Over the last three months, insiders have sold 164,471 shares of company stock valued at $5,773,431. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Pinterest by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 56,348,952 shares of the company’s stock valued at $2,087,165,000 after purchasing an additional 1,439,595 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Pinterest by 43.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after buying an additional 3,390,924 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after buying an additional 2,548,925 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Pinterest by 12.6% in the 4th quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after buying an additional 1,043,173 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of Pinterest by 0.7% in the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock worth $329,179,000 after acquiring an additional 64,270 shares during the period. Hedge funds and other institutional investors 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.