Pinterest Inc [PINS] Stock trading around $35.39 per share: What’s Next?

Pinterest Inc [NYSE: PINS] stock went on a downward path that fall over -1.31% on Monday, amounting to a one-week price increase of more than 0.31%. The company report on February 21, 2024 at 4:06 PM that Pinterest to Participate at the Morgan Stanley Technology, Media & Telecom Conference.

Pinterest, Inc. (NYSE: PINS) announced today that Bill Ready, CEO, will participate in the Morgan Stanley Technology, Media & Telecom Conference. The session is scheduled for March 6th, 2024 at 7:15 a.m. PST / 10:15 a.m. EST.

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A live webcast and replay of the presentation will be publicly available on Pinterest’s Investor Relations website at investor.pinterestinc.com.

Over the last 12 months, PINS stock rose by 38.78%. The one-year Pinterest Inc stock forecast points to a potential upside of 17.39. The average equity rating for PINS stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $24.03 billion, with 591.66 million shares outstanding and 585.63 million shares in the current float. Compared to the average trading volume of 10.37M shares, PINS stock reached a trading volume of 7507936 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Pinterest Inc [PINS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PINS shares is $42.84 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PINS stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Argus have made an estimate for Pinterest Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 18, 2024. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Outperform. The new note on the price target was released on January 09, 2024, representing the official price target for Pinterest Inc stock. Previously, the target price had yet another raise to $45, while Raymond James analysts kept a Outperform rating on PINS stock. On December 11, 2023, analysts increased their price target for PINS shares from 32 to 46.

The Average True Range (ATR) for Pinterest Inc is set at 1.30, with the Price to Sales ratio for PINS stock in the period of the last 12 months amounting to 7.87. The Price to Book ratio for the last quarter was 7.76, with the Price to Cash per share for the same quarter was set at 3.70. Price to Free Cash Flow for PINS in the course of the last twelve months was 39.72 with Quick ratio for the last quarter at 10.53.

PINS Stock Performance Analysis:

Pinterest Inc [PINS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.31. With this latest performance, PINS shares dropped by -4.33% in over the last four-week period, additionally plugging by 32.35% over the last 6 months – not to mention a rise of 38.78% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PINS stock in for the last two-week period is set at 41.90, with the RSI for the last a single of trading hit 38.66, and the three-weeks RSI is set at 44.97 for Pinterest Inc [PINS]. The present Moving Average for the last 50 days of trading for this stock 37.20, while it was recorded at 35.56 for the last single week of trading, and 29.92 for the last 200 days.

Insight into Pinterest Inc Fundamentals:

Pinterest Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.53 and a Current Ratio set at 10.53.

PINS Stock EPS

With the latest financial reports released by the company, Pinterest Inc posted 0.08/share EPS, while the average EPS was predicted by analysts to be reported at 0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 700.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PINS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Pinterest Inc go to 23.30%.

Pinterest Inc [PINS] Institutonal Ownership Details

The top three institutional holders of PINS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PINS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PINS stock with ownership which is approximately 5.8325%.