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The latest trading session saw Pinterest (PINS) ending at $29.89, denoting a +1.81% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.31%.
The digital pinboard and shopping tool company's shares have seen a decrease of 7.24% over the last month, not keeping up with the Computer and Technology sector's loss of 1.17% and the S&P 500's gain of 1.57%.
Analysts and investors alike will be keeping a close eye on the performance of Pinterest in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.34, signifying a 21.43% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $896.71 million, up 17.49% from the prior-year quarter.
PINS's full-year Zacks Consensus Estimates are calling for earnings of $1.43 per share and revenue of $3.64 billion. These results would represent year-over-year changes of +31.19% and +19.12%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Pinterest. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.28% lower. Pinterest is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Pinterest has a Forward P/E ratio of 20.47 right now. This represents a discount compared to its industry's average Forward P/E of 31.23.
It is also worth noting that PINS currently has a PEG ratio of 0.9. 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. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 2.01.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Zacks Investment Research
Pinterest (PINS) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Over the past month, shares of this digital pinboard and shopping tool company have returned -7.2%, compared to the Zacks S&P 500 composite's +1.6% change. During this period, the Zacks Internet - Software industry, which Pinterest falls in, has gained 2%. The key question now is: What could be the stock's future direction?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Revisions to Earnings Estimates
Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Pinterest is expected to post earnings of $0.34 per share for the current quarter, representing a year-over-year change of +21.4%. Over the last 30 days, the Zacks Consensus Estimate has changed -1.4%.
For the current fiscal year, the consensus earnings estimate of $1.43 points to a change of +31.2% from the prior year. Over the last 30 days, this estimate has changed -0.3%.
For the next fiscal year, the consensus earnings estimate of $1.72 indicates a change of +19.7% from what Pinterest is expected to report a year ago. Over the past month, the estimate has changed -0.3%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for Pinterest.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue Growth
While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For Pinterest, the consensus sales estimate for the current quarter of $896.71 million indicates a year-over-year change of +17.5%. For the current and next fiscal years, $3.64 billion and $4.24 billion estimates indicate +19.1% and +16.6% changes, respectively.
Last Reported Results and Surprise History
Pinterest reported revenues of $853.68 million in the last reported quarter, representing a year-over-year change of +20.6%. EPS of $0.29 for the same period compares with $0.21 a year ago.
Compared to the Zacks Consensus Estimate of $847.84 million, the reported revenues represent a surprise of +0.69%. The EPS surprise was +3.57%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates three times over this period.
Valuation
No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Pinterest is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom Line
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Pinterest. However, its Zacks Rank #4 does suggest that it may underperform the broader market in the near term.
Zacks Investment Research
The latest trading session saw Pinterest (PINS) ending at $28.89, denoting a +0.1% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.13%. On the other hand, the Dow registered a gain of 0.55%, and the technology-centric Nasdaq decreased by 0.52%.
Prior to today's trading, shares of the digital pinboard and shopping tool company had lost 6.93% over the past month. This has lagged the Computer and Technology sector's gain of 1.56% and the S&P 500's gain of 3.67% in that time.
The upcoming earnings release of Pinterest will be of great interest to investors. It is anticipated that the company will report an EPS of $0.34, marking a 21.43% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $896.71 million, indicating a 17.49% upward movement from the same quarter last year.
PINS's full-year Zacks Consensus Estimates are calling for earnings of $1.43 per share and revenue of $3.64 billion. These results would represent year-over-year changes of +31.19% and +19.12%, respectively.
Any recent changes to analyst estimates for Pinterest should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.28% decrease. Pinterest currently has a Zacks Rank of #4 (Sell).
Investors should also note Pinterest's current valuation metrics, including its Forward P/E ratio of 20.13. This valuation marks a discount compared to its industry's average Forward P/E of 30.42.
It is also worth noting that PINS currently has a PEG ratio of 0.88. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry currently had an average PEG ratio of 2.02 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 87, positioning it in the top 35% 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.
Zacks Investment Research
With a staggering , the parent company of Google, needs little introduction. Headquartered in California, Alphabet is globally renowned for its flagship products like Gmail, Google Maps, and Google Photos, which have become integral to everyday life.
Companies valued at $200 billion or more are generally labeled as "mega-cap stocks,” and Alphabet not only fits this category but surpasses it by a wide margin, boasting a market cap well above this threshold. Alphabet has established itself as a global tech powerhouse, recognized for its innovation and market leadership.
Despite its grand reputation, the mega-cap stock currently trades 18.1% below its 2.5% gain over the same time frame.
Over the longer term, GOOG is up 12.4% on a YTD basis and has climbed 15.2% over the past 52 weeks. In comparison, the PNQI returned 14.4% in 2024 and 27.5% over the past year.
The stock has traded below its 200-day moving average since mid-July and under its 50-day moving average since early September, indicating a bearish trend.
Alphabet's recent price action has been impacted by concerns over increasing competition in the search market, particularly from AI-driven companies like OpenAI, which have raised questions about its market dominance.
Additionally, investor worries about Alphabet's significant spending on AI infrastructure have sparked fears about profitability and cost management. Broader economic concerns, including uncertainties about the global economy, have also weighed on the stock, contributing to its decline.
Moreover, the company reported its Q2 earnings on Jul. 23, beating Wall Street’s expectations for revenue and EPS. However, the stock has underperformed GOOG. Shares of PINS have plunged 22.1% on a YTD basis but have soared 9.7% over the past year, trailing GOOG during both these periods.
Despite GOOG’s underwhelming price action compared to the broader internet industry, analysts are highly bullish on the stock. Among the 45 analysts covering the stock, there is a consensus rating of “Strong Buy,” and the mean price target of $202.09 reflects a 21.6% premium from current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
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