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Pinterest (PINS) Ascends But Remains Behind Market: Some Facts to Note
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Pinterest (PINS - Free Report) closed at $37.58 in the latest trading session, marking a +0.29% move from the prior day. This move lagged the S&P 500's daily gain of 1.25%. On the other hand, the Dow registered a gain of 0.97%, and the technology-centric Nasdaq increased by 1.3%.
Shares of the digital pinboard and shopping tool company have appreciated by 4.49% over the course of the past month, outperforming the Computer and Technology sector's gain of 2.42% and the S&P 500's gain of 1.58%.
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 February 8, 2024. The company is predicted to post an EPS of $0.51, indicating a 75.86% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $988.62 million, up 12.7% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Pinterest. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 6.52% rise in the Zacks Consensus EPS estimate. Pinterest currently has a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Pinterest is presently trading at a Forward P/E ratio of 28.6. This denotes a discount relative to the industry's average Forward P/E of 32.99.
It is also worth noting that PINS currently has a PEG ratio of 0.8. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 1.65.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 76, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Pinterest (PINS) Ascends But Remains Behind Market: Some Facts to Note
Pinterest (PINS - Free Report) closed at $37.58 in the latest trading session, marking a +0.29% move from the prior day. This move lagged the S&P 500's daily gain of 1.25%. On the other hand, the Dow registered a gain of 0.97%, and the technology-centric Nasdaq increased by 1.3%.
Shares of the digital pinboard and shopping tool company have appreciated by 4.49% over the course of the past month, outperforming the Computer and Technology sector's gain of 2.42% and the S&P 500's gain of 1.58%.
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 February 8, 2024. The company is predicted to post an EPS of $0.51, indicating a 75.86% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $988.62 million, up 12.7% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Pinterest. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 6.52% rise in the Zacks Consensus EPS estimate. Pinterest currently has a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Pinterest is presently trading at a Forward P/E ratio of 28.6. This denotes a discount relative to the industry's average Forward P/E of 32.99.
It is also worth noting that PINS currently has a PEG ratio of 0.8. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 1.65.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 76, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 follow all of these stock-moving metrics, and many more, on Zacks.com.