Stocks of Pinterest Inc (NYSE:PINS) traded higher last session on Wall Street, up 1.00% to $32.34.
PINS stock price is now -15.02% away from the 50-day moving average and -12.29% away from the 200-day moving average. The market capitalization of the company currently stands at $22.19B.
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With the price target reduced from $49 to $41, Wells Fargo maintained Overweight rating for Pinterest Inc (NYSE: PINS). On July 31, 2024, Piper Sandler reiterated its ‘Overweight’ rating on the stock by increasing its target price from $52 to quote $45, while ‘KeyBanc Capital Markets’ rates the stock as ‘Overweight’
In other news, Brau Donnelly Julia, Chief Financial Officer sold 30,280 shares of the company’s stock on Jun 27 ’24. The stock was sold for $1,343,887 at an average price of $44.38. Upon completion of the transaction, the Chief Financial Officer now directly owns 362,822 shares in the company, valued at $11.73 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 20 ’24, Chief Accounting Officer Acosta Andrea sold 2,564 shares of the business’s stock. A total of $115,380 was realized by selling the stock at an average price of $45.00. This leaves the insider owning 186,906 shares of the company worth $6.04 million. A total of 13.44% of the company’s stock is owned by insiders.
During the past 12 months, Pinterest Inc has had a low of $23.59 and a high of $45.19. As of last week, the company has a debt-to-equity ratio of 0.05, a current ratio of 9.50, and a quick ratio of 9.50. According to the stock market information, the enterprise value for the company is $19608131584, which is based on a 117.51 price-to-earnings ratio, a 4.30 price-to-earnings-growth ratio, and a beta of 1.01. The fifty day moving average price for PINS is $37.8262 and a two-hundred day moving average price translates $36.87725 for the stock.
The latest earnings results from Pinterest Inc (NYSE: PINS) was released for 2024-06-30. The net profit margin was 5.75% and return on equity was 6.52% for PINS. The company reported revenue of $853.68 million for the quarter, compared to $708.02 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 20.57 percent. For the current quarter, analysts expect PINS to generate $895.8M in revenue.
