Zacks Research Reduces Earnings Estimates for Pinterest

Pinterest, Inc. (NYSE:PINS) – Investment analysts at Zacks Research reduced their FY2027 EPS estimates for shares of Pinterest in a note issued to investors on Monday, June 9th. Zacks Research analyst R. Department now expects that the company will post earnings of $1.18 per share for the year, down from their previous estimate of $1.21. The consensus estimate for Pinterest’s current full-year earnings is $0.60 per share.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The company had revenue of $854.99 million for the quarter, compared to analysts’ expectations of $848.49 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis.

PINS has been the topic of several other reports. Piper Sandler lowered their price target on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company lowered their price target on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. TD Cowen lowered their price target on shares of Pinterest from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Oppenheimer boosted their price target on shares of Pinterest from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. upgraded shares of Pinterest from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.42.

Pinterest Stock Down 2.1%

Pinterest stock opened at $34.02 on Wednesday. The company’s fifty day simple moving average is $29.12 and its 200-day simple moving average is $31.45. Pinterest has a 12 month low of $23.68 and a 12 month high of $45.19. The stock has a market cap of $23.07 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.95 and a beta of 0.91.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Pinterest by 2.2% during the first quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock valued at $1,798,270,000 after buying an additional 1,263,863 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Pinterest by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock valued at $988,662,000 after buying an additional 6,460,143 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Pinterest by 13.7% during the first quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock valued at $480,452,000 after buying an additional 1,862,654 shares during the last quarter. Amundi raised its position in shares of Pinterest by 618.9% during the first quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after buying an additional 12,271,958 shares during the last quarter. Finally, FMR LLC raised its position in Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company’s stock worth $365,381,000 after purchasing an additional 316,633 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Buying and Selling at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $34.81, for a total transaction of $3,553,509.23. Following the completion of the transaction, the director now owns 8,414 shares of the company’s stock, valued at approximately $292,891.34. This represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $32.24, for a total transaction of $395,036.72. Following the transaction, the insider now directly owns 228,510 shares of the company’s stock, valued at $7,367,162.40. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,177,104 shares of company stock worth $38,592,423 over the last ninety days. Company insiders own 7.06% 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.