The stock of Pinterest, Inc. (NYSE:PINS) is now priced at $32.9 and the shares are -1.29 points down or -3.77% lower compared to its previous closing price of $34.19. The stock had 16.408 million contracts set over the past session. PINS shares’ daily volume is compared to its average trading volume at 16.138 million shares. However, it has a float of 460 million and although its performance was -6.03% over the week, it’s one to watch. Analysts have given the PINS stock a yearly average price target of $36.57 per share. It means the stock’s upside potential is 11.16% with the PINS share price recently placing at $32.51 to $34.14.
The shorts are running away from the Pinterest, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PINS shares have declined. Short interest in the stock represents just 5.29% of its float, but the volume has dropped by 0.
In the last trading session, Pinterest, Inc. (NYSE:PINS) dropped by -$2.11 over the week and gained $8.63 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $38.23. The stock recorded its established 52-week high on 08/19/20.
Since 03/18/20, the stock has traded to a low of $10.1 at 225.74%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Pinterest, Inc.’s two-week RSI is 55.04. This suggests that the stock is neutral at the moment and that PINS shares’ price movement remains stable. The stochastic readings are equally revealing at 13.48% meaning the PINS share price is currently in overbought territory.
The technical chart shows that the PINS stock will likely settle at between $33.86 and $34.81 per share. However, if the stock dips below $32.23, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $31.55.
Currently, the stock is trading in the red of MACD, with a reading of -0.82. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Citigroup cut their recommendation for PINS from Buy to Neutral in August 24 review while maintai their target price of $25 to $35. Morgan Stanley analysts upgraded their recommendation of the stock from Equal-Weight to Overweight while keeping its target price at $34 to $44 in a flash note released to investors on August 10. UBS seeing the improvements upgraded the stock from Neutral to Buy on August 03, placing it at $23 to $42.
The average rating for the PINS equity is 2.56 and is currently gathering a bullish momentum. Of 26 analysts tracking Pinterest, Inc. polled by Reuters, 13 rated PINS as a hold. The remaining 13 analysts were split evenly. However, the split wasn’t equal as a majority (12) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PINS stock price is 158.17X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 60.9 above the group’s average of 42.2. Pinterest, Inc. has its P/E ratio at 10.4, which means that the stock is currently trading at a premium relative to the 5.9 industry average.