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Pinterest (PINS) Laps the Stock Market: Here's Why
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Pinterest (PINS - Free Report) closed the most recent trading day at $31.83, moving +0.92% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a loss of 0.33%, and the technology-centric Nasdaq increased by 0.76%.
Prior to today's trading, shares of the digital pinboard and shopping tool company had lost 1.9% over the past month. This has lagged the Computer and Technology sector's gain of 2.29% and the S&P 500's gain of 1.47% in that time.
The investment community will be paying close attention to the earnings performance of Pinterest in its upcoming release. The company is slated to reveal its earnings on November 7, 2024. In that report, analysts expect Pinterest to post earnings of $0.34 per share. This would mark year-over-year growth of 21.43%. Our most recent consensus estimate is calling for quarterly revenue of $897.07 million, up 17.54% from the year-ago period.
PINS's full-year Zacks Consensus Estimates are calling for earnings of $1.44 per share and revenue of $3.64 billion. These results would represent year-over-year changes of +32.11% and +19.17%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Pinterest. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Pinterest is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Pinterest is currently exchanging hands at a Forward P/E ratio of 21.97. This represents a discount compared to its industry's average Forward P/E of 31.81.
It is also worth noting that PINS currently has a PEG ratio of 0.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.07.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Pinterest (PINS) Laps the Stock Market: Here's Why
Pinterest (PINS - Free Report) closed the most recent trading day at $31.83, moving +0.92% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a loss of 0.33%, and the technology-centric Nasdaq increased by 0.76%.
Prior to today's trading, shares of the digital pinboard and shopping tool company had lost 1.9% over the past month. This has lagged the Computer and Technology sector's gain of 2.29% and the S&P 500's gain of 1.47% in that time.
The investment community will be paying close attention to the earnings performance of Pinterest in its upcoming release. The company is slated to reveal its earnings on November 7, 2024. In that report, analysts expect Pinterest to post earnings of $0.34 per share. This would mark year-over-year growth of 21.43%. Our most recent consensus estimate is calling for quarterly revenue of $897.07 million, up 17.54% from the year-ago period.
PINS's full-year Zacks Consensus Estimates are calling for earnings of $1.44 per share and revenue of $3.64 billion. These results would represent year-over-year changes of +32.11% and +19.17%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Pinterest. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Pinterest is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Pinterest is currently exchanging hands at a Forward P/E ratio of 21.97. This represents a discount compared to its industry's average Forward P/E of 31.81.
It is also worth noting that PINS currently has a PEG ratio of 0.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.07.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.