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Pinterest (PINS) Outperforms Broader Market: What You Need to Know
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Pinterest (PINS - Free Report) ended the recent trading session at $36.99, demonstrating a +1.29% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.53% for the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.19%.
The the stock of digital pinboard and shopping tool company has fallen by 2.09% in the past month, lagging the Computer and Technology sector's gain of 5.21% and the S&P 500's gain of 2.48%.
Analysts and investors alike will be keeping a close eye on the performance of Pinterest in its upcoming earnings disclosure. The company's earnings report is set to go public on February 8, 2024. The company is expected to report EPS of $0.51, up 75.86% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $988.62 million, indicating a 12.7% upward movement from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pinterest. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.48% higher within the past month. Pinterest is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Pinterest is holding a Forward P/E ratio of 28.03. For comparison, its industry has an average Forward P/E of 34.62, which means Pinterest is trading at a discount to the group.
We can also see that PINS currently has a PEG ratio of 0.78. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. PINS's industry had an average PEG ratio of 1.78 as of yesterday's close.
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 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Pinterest (PINS) Outperforms Broader Market: What You Need to Know
Pinterest (PINS - Free Report) ended the recent trading session at $36.99, demonstrating a +1.29% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.53% for the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.19%.
The the stock of digital pinboard and shopping tool company has fallen by 2.09% in the past month, lagging the Computer and Technology sector's gain of 5.21% and the S&P 500's gain of 2.48%.
Analysts and investors alike will be keeping a close eye on the performance of Pinterest in its upcoming earnings disclosure. The company's earnings report is set to go public on February 8, 2024. The company is expected to report EPS of $0.51, up 75.86% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $988.62 million, indicating a 12.7% upward movement from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pinterest. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.48% higher within the past month. Pinterest is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Pinterest is holding a Forward P/E ratio of 28.03. For comparison, its industry has an average Forward P/E of 34.62, which means Pinterest is trading at a discount to the group.
We can also see that PINS currently has a PEG ratio of 0.78. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. PINS's industry had an average PEG ratio of 1.78 as of yesterday's close.
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 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.