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Pinterest (PINS) Dips More Than Broader Market: What You Should Know
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In the latest trading session, Pinterest (PINS - Free Report) closed at $26.55, marking a -1.04% move from the previous day. This move lagged the S&P 500's daily loss of 0.85%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 0.96%.
The digital pinboard and shopping tool company's shares have seen a decrease of 0.7% over the last month, surpassing the Computer and Technology sector's loss of 2.07% and the S&P 500's loss of 3.02%.
Market participants will be closely following the financial results of Pinterest in its upcoming release. The company plans to announce its earnings on October 30, 2023. The company is predicted to post an EPS of $0.21, indicating a 90.91% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $742.3 million, indicating an 8.44% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.96 per share and a revenue of $3.04 billion, signifying shifts of +54.84% and +8.3%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Pinterest. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 50% rise in the Zacks Consensus EPS estimate. Pinterest is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at valuation, Pinterest is presently trading at a Forward P/E ratio of 27.83. This denotes a discount relative to the industry's average Forward P/E of 37.04.
We can also see that PINS currently has a PEG ratio of 0.88. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry currently had an average PEG ratio of 1.47 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PINS in the coming trading sessions, be sure to utilize Zacks.com.
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Pinterest (PINS) Dips More Than Broader Market: What You Should Know
In the latest trading session, Pinterest (PINS - Free Report) closed at $26.55, marking a -1.04% move from the previous day. This move lagged the S&P 500's daily loss of 0.85%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 0.96%.
The digital pinboard and shopping tool company's shares have seen a decrease of 0.7% over the last month, surpassing the Computer and Technology sector's loss of 2.07% and the S&P 500's loss of 3.02%.
Market participants will be closely following the financial results of Pinterest in its upcoming release. The company plans to announce its earnings on October 30, 2023. The company is predicted to post an EPS of $0.21, indicating a 90.91% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $742.3 million, indicating an 8.44% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.96 per share and a revenue of $3.04 billion, signifying shifts of +54.84% and +8.3%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Pinterest. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 50% rise in the Zacks Consensus EPS estimate. Pinterest is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at valuation, Pinterest is presently trading at a Forward P/E ratio of 27.83. This denotes a discount relative to the industry's average Forward P/E of 37.04.
We can also see that PINS currently has a PEG ratio of 0.88. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry currently had an average PEG ratio of 1.47 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PINS in the coming trading sessions, be sure to utilize Zacks.com.