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Pinterest (NYSE:PINS) Updates Q2 2021 Earnings Guidance

Tuesday, May 4, 2021 | MarketBeat

Pinterest (NYSE:PINS) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of - for the period. The company issued revenue guidance of $558.59 million-$558.59 million, compared to the consensus revenue estimate of $530.41 million.

Shares of NYSE:PINS opened at $63.71 on Tuesday. The firm has a fifty day moving average price of $75.01 and a two-hundred day moving average price of $70.59. Pinterest has a one year low of $15.82 and a one year high of $89.90. The company has a market cap of $40.04 billion, a price-to-earnings ratio of -99.55 and a beta of 1.40.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, April 27th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.08) by $0.19. The firm had revenue of $485.23 million during the quarter, compared to the consensus estimate of $471.49 million. Pinterest had a negative net margin of 26.81% and a negative return on equity of 14.42%. The business's quarterly revenue was up 78.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) EPS. As a group, sell-side analysts forecast that Pinterest will post -0.41 earnings per share for the current fiscal year.

Several research firms have recently weighed in on PINS. Credit Suisse Group raised their price objective on shares of Pinterest from $66.00 to $74.00 and gave the company a neutral rating in a research report on Monday, February 1st. Barclays raised their price objective on shares of Pinterest from $66.00 to $79.00 and gave the company an equal weight rating in a research report on Friday, February 5th. Susquehanna Bancshares raised their price objective on shares of Pinterest from $67.00 to $90.00 and gave the company a neutral rating in a research report on Friday, February 5th. The Goldman Sachs Group raised their price objective on shares of Pinterest from $86.00 to $104.00 and gave the company a buy rating in a research report on Friday, February 5th. Finally, Citigroup lifted their target price on shares of Pinterest from $65.00 to $85.00 and gave the stock a neutral rating in a research report on Friday, February 12th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $78.34.

In related news, Director Jeremy S. Levine sold 15,987 shares of the business's stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $85.43, for a total transaction of $1,365,769.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Evan Sharp sold 69,198 shares of the business's stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $85.97, for a total transaction of $5,948,952.06. Following the sale, the insider now directly owns 69,198 shares in the company, valued at approximately $5,948,952.06. The disclosure for this sale can be found here. Insiders have sold a total of 827,687 shares of company stock worth $63,867,719 in the last ninety days.

About Pinterest

Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others. It shows them visual recommendations based on people personal taste and interests.

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Earnings History and Estimates for Pinterest (NYSE:PINS)

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