Pinterest Inc (NYSE:PINS) experienced a positive trading session, with 2.14 million shares changing hands. The stock’s beta is currently 1.02, indicating a moderate level of volatility. At the last check, the stock was trading at $26.53 per share, up 0.53%. This puts the company’s market valuation at $17.78 billion.
The current trading price of PINS’s stock is at a discount of 16.32% from its 52-week high and at a premium of 22.35% from its 52-week low. The average trading volume for the last 10 days is 7.93 million shares, with an extended average trading volume of 10.24 million over three months.
Analysts have provided an average recommendation of “Overweight” for Pinterest Inc (PINS), with a mean rating of 2.06. Out of the 33 analysts covering the stock, one rated it as a Sell, four recommended an Overweight rating, 13 suggested a Hold, and 15 see it as a Buy. The company is expected to generate earnings per share (EPS) of $0.2 in the current quarter.
Over the past five days, PINS has remained in the green and reached its highest point on October 2nd, 2023, at a price of $26.53 per share. Year-to-date, the stock has gained 9.27%, and in the past 30 days, it has shown a performance of -4.05%. The number of shares sold short is 19.6 million, which would take 2.26 days to cover the short interests.
Wall Street analysts have set a consensus price target of $32.78 for the stock, suggesting a potential rise of 19.07% from its current value. The low price target is projected to be $24.00, while the high target is set at $45.00. If the stock reaches the high target, its price would drop by 69.62%, while reaching the low target would result in a gain of 9.54%.
Pinterest Inc is performing well compared to other players in the industry, with a higher annual growth rate of 54.84% versus the industry’s 19.60% growth rate over the past six months. The company has also raised its revenue forecast for fiscal year 2023, expecting a growth of 81.80% in the current quarter and 65.50% in the next quarter. The estimated revenue growth for this year is 8.10% compared to the previous financial year.
Analysts have projected the company’s current quarter revenue to be $742.48 million, with an estimate of $976.11 million for the next quarter ending in December 2023. In the same quarters a year earlier, the company generated $666.71 million and $877.21 million in sales, respectively. The expected sales growth for this quarter is 11.40%, with a slightly lower estimate of 11.30% for the next quarter.
Over the past five years, Pinterest Inc has shown an annual earnings growth rate of 9.71%. In 2023, the company’s earnings growth rate is expected to be around 57.70%, with estimates of 26.40% for its earnings growth in the next five years.
Investors are confident in Pinterest Inc’s future dividends, despite the challenges posed by mounting debt. The company is likely to release its next quarterly report between October 25th and October 30th.
Insiders hold 0.99% of the company’s total shares, while institutions hold 93.33%. The top institutional holder is Vanguard Group Inc with 55.9 million shares worth $1.49 billion. Blackrock Inc. is the second largest institutional holder with 34.48 million shares worth $921.03 million.
In terms of mutual funds, the top two holders of Pinterest Inc’s shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. The former holds 18.55 million shares worth $495.48 million, while the latter holds 13.78 million shares worth around $368.02 million.
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– Definitions:
– Beta: Beta measures the volatility or systematic risk of a stock compared to the market as a whole.
– Market valuation: Market valuation is the total market value of a company’s outstanding shares.
– EPS: Earnings per share is a company’s net profit divided by the number of outstanding shares.
– Short interests: Short interests represent the total number of shares that have been sold short by traders but have not yet been covered or closed out.
– Price target: Price target is the anticipated price at which an analyst believes a stock will trade in the future.
– Revenue forecast: Revenue forecast is an estimate of a company’s expected revenue for a specific period.
– Annual growth rate: Annual growth rate measures the percentage increase in a company’s performance over a year.
– Dividends: Dividends are a portion of a company’s earnings paid out to its shareholders.
– Insiders: Insiders are individuals who have access to non-public information about a company.
– Institutions: Institutions are entities, such as mutual funds and pension funds, that manage large amounts of money on behalf of individuals.