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Here's Why Pinterest (PINS) Fell More Than Broader Market
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In the latest trading session, Pinterest (PINS - Free Report) closed at $32.94, marking a -1.29% move from the previous day. This change lagged the S&P 500's 0.02% loss on the day. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.04%.
The digital pinboard and shopping tool company's shares have seen an increase of 11.64% over the last month, surpassing the Computer and Technology sector's gain of 4.44% and the S&P 500's gain of 3.77%.
The upcoming earnings release of Pinterest will be of great interest to investors. The company's earnings report is expected on November 7, 2024. The company's upcoming EPS is projected at $0.34, signifying a 21.43% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $897.07 million, indicating a 17.54% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.44 per share and revenue of $3.64 billion, indicating changes of +32.11% and +19.17%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Pinterest. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.15% lower. Pinterest is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Pinterest is holding a Forward P/E ratio of 23.24. For comparison, its industry has an average Forward P/E of 32.19, which means Pinterest is trading at a discount to the group.
It is also worth noting that PINS currently has a PEG ratio of 0.7. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Internet - Software industry stood at 2.13 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Here's Why Pinterest (PINS) Fell More Than Broader Market
In the latest trading session, Pinterest (PINS - Free Report) closed at $32.94, marking a -1.29% move from the previous day. This change lagged the S&P 500's 0.02% loss on the day. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.04%.
The digital pinboard and shopping tool company's shares have seen an increase of 11.64% over the last month, surpassing the Computer and Technology sector's gain of 4.44% and the S&P 500's gain of 3.77%.
The upcoming earnings release of Pinterest will be of great interest to investors. The company's earnings report is expected on November 7, 2024. The company's upcoming EPS is projected at $0.34, signifying a 21.43% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $897.07 million, indicating a 17.54% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.44 per share and revenue of $3.64 billion, indicating changes of +32.11% and +19.17%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Pinterest. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.15% lower. Pinterest is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Pinterest is holding a Forward P/E ratio of 23.24. For comparison, its industry has an average Forward P/E of 32.19, which means Pinterest is trading at a discount to the group.
It is also worth noting that PINS currently has a PEG ratio of 0.7. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Internet - Software industry stood at 2.13 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.