In the latest trading session, 2.26 million Pinterest Inc. (NYSE:PINS) shares changed hands as the company’s beta touched 1.04. With the company’s most recent per share price at $24.54 changed hands at -$0.86 or -3.39% at last look, the market valuation stands at $16.64B. PINS’s current price is a discount, trading about -25.75% off its 52-week high of $30.86. The share price had its 52-week low at $20.60, which suggests the last value was 16.06% up since then. When we look at Pinterest Inc.’s average trading volume, we note the 10-day average is 8.89 million shares, with the 3-month average coming to 10.00 million.
Analysts gave the Pinterest Inc. (PINS) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 1 out of 31 analysts rate the stock as a Sell, with a further 4 assigning it an Overweight rating. Of the remaining, 15 recommended PINS as a Hold, 11 felt it is a Buy and 0 rated the stock as Underweight. Pinterest Inc.’s EPS for the current quarter is expected to be $0.2.
Pinterest Inc. (NYSE:PINS) trade information
Instantly PINS was in red as seen in intraday trades today. With action -11.95%, the performance over the past five days has been red. The drop to weekly highs of 27.72 on Monday, 09/18/23 subtracted -3.39% to the stock’s daily price. The company’s shares are showing year-to-date upside of 1.07%, with the 5-day performance at -11.95% in the red. However, in the 30-day time frame, Pinterest Inc. (NYSE:PINS) is -7.22% down. Looking at the short shares, we see there were 21.02 million shares sold at short interest cover period of 2.04 days.
The consensus price target for the stock as assigned by Wall Street analysts is $31.83, meaning bulls need an upside of 22.9% from its recent market value. According to analyst projections, PINS’s forecast low is $24.00 with $45.00 as the target high. To hit the forecast high, the stock’s price needs a -83.37% plunge from its current level, while the stock would need to tank 2.2% for it to hit the projected low.
Pinterest Inc. (PINS) estimates and forecasts
Data shows that the Pinterest Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -8.26% over the past 6 months, a 54.84% in annual growth rate that is considerably higher than the industry average of 22.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Pinterest Inc. will rise 81.80%, while the growth in revenue is estimated to hit 62.10% for the next quarter. Year-over-year growth is forecast to reach 8.00% up from the last financial year.
Consensus estimates given by 24 financial analysts project the company’s revenue in the current quarter to hit an average of $741.55 million. 24 analysts are of the opinion that Pinterest Inc.’s revenue for the quarter ending Dec 2023 will be $974.91 million. The company’s revenue for the corresponding quarters a year ago was $666.71 million and $877.21 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 11.20%. The estimates for the next quarter sales put growth at 11.10%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 10.10%. The 2023 estimates are for Pinterest Inc. earnings to decrease by -128.10%, but the outlook for the next 5-year period is at 30.90% per year.
Pinterest Inc. is expected to release its next quarterly earnings report in October.
Pinterest Inc. (NYSE:PINS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.99% of Pinterest Inc. shares while 93.33% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 94.26%. There are 93.33% institutions holding the Pinterest Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 9.61% of the shares, roughly 55.9 million PINS shares worth $1.53 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.92% or 34.48 million shares worth $942.58 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. With 18.55 million shares estimated at $507.07 million under it, the former controlled 3.19% of total outstanding shares. On the other hand, Vanguard Mid-Cap Index Fund held about 2.37% of the shares, roughly 13.78 million shares worth around $376.63 million.