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Pinterest (PINS) Exceeds Market Returns: Some Facts to Consider
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In the latest trading session, Pinterest (PINS - Free Report) closed at $33.18, marking a +0.73% move from the previous day. This change outpaced the S&P 500's 0.4% gain on the day. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.63%.
Shares of the digital pinboard and shopping tool company have appreciated by 7.93% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.88% and the S&P 500's gain of 3.76%.
Investors will be eagerly watching for the performance of Pinterest in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 7, 2024. The company is expected to report EPS of $0.34, up 21.43% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $897.07 million, reflecting a 17.54% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.44 per share and a revenue of $3.64 billion, signifying shifts of +32.11% and +19.17%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Pinterest. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.15% lower. Pinterest currently has a Zacks Rank of #4 (Sell).
In terms of valuation, Pinterest is currently trading at a Forward P/E ratio of 22.94. This denotes a discount relative to the industry's average Forward P/E of 32.25.
We can additionally observe that PINS currently boasts a PEG ratio of 0.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Internet - Software industry stood at 2.09 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Pinterest (PINS) Exceeds Market Returns: Some Facts to Consider
In the latest trading session, Pinterest (PINS - Free Report) closed at $33.18, marking a +0.73% move from the previous day. This change outpaced the S&P 500's 0.4% gain on the day. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.63%.
Shares of the digital pinboard and shopping tool company have appreciated by 7.93% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.88% and the S&P 500's gain of 3.76%.
Investors will be eagerly watching for the performance of Pinterest in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 7, 2024. The company is expected to report EPS of $0.34, up 21.43% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $897.07 million, reflecting a 17.54% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.44 per share and a revenue of $3.64 billion, signifying shifts of +32.11% and +19.17%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Pinterest. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.15% lower. Pinterest currently has a Zacks Rank of #4 (Sell).
In terms of valuation, Pinterest is currently trading at a Forward P/E ratio of 22.94. This denotes a discount relative to the industry's average Forward P/E of 32.25.
We can additionally observe that PINS currently boasts a PEG ratio of 0.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Internet - Software industry stood at 2.09 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.