Pinterest, Inc. (NYSE:PINS) price on Friday, Nov 20, rose 1.55% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $67.19.
A look at the stock’s price movement, the close during the last trading session was $65.95, moving within a range at $66.15 and $67.30. Turning to its 52-week performance, $68.93 and $10.1 were the 52-week high and 52-week low respectively. Overall, PINS moved 33.56% over the past month.
Analysts have a consensus estimate of $642.74 Million for the company’s revenue for the quarter, with a low and high estimate of $625.6 Million and $659.5 Million respectively. The average forecast adds up to a 60.7% growth in sales earnings compared to quarterly earnings in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2020 to grow to $1.63 Billion, representing a +42.6% jump on that reported in the 2019 financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 2 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that PINS is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term while long term indicators are putting the stock in 100% Buy category.
29 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 10 analyst(s) rate the stock as a Hold, 16 recommend PINS as a Buy and 2 give it an Outperform rating. Meanwhile, 1 analyst(s) rate the stock as Underperform and none say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical outlook for the stock shows the PEG ratio is 0, with PINS’s current price about 12.91% and 37.22% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 69.68, while 7-day volatility ratio is 4.35% and 5.99% in the 30-day chart. Further, Pinterest, Inc. (PINS) has a beta value of 0, and an average true range (ATR) of 3.62. Analysts have given the company’s stock an average 52-week price target of $69.17, forecast between a low of $42 and high of $86. Looking at the price targets, the low is -37.49% off current price level while to achieve the yearly target high price needs to move +28%. Nonetheless, investors will most likely welcome a +7.16% jump to $72 that is the analysts’ median price.
If we refocus on Pinterest, Inc. (NYSE:PINS), historical trading data shows that trading volumes averaged 13.17 Million over the past 10 days and 18.39 Million over the past 3 months. The company’s latest data on shares outstanding shows there are 462.68 Million shares.
As per Thomson Reuters, 0.59% of Pinterest, Inc.’s shares are in the hands of company insiders while institutional holders own 73.92% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 12.84 Million on October 29, 2020, giving us a short ratio of 0.54. The data shows that as of October 29, 2020 short interest in Pinterest, Inc. (PINS) stood at 2.08% of shares outstanding, with shares short dropping from 20.45 Million registered in September. Today’s price change has pushed the stock +253.81% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PINS stock continues to rise going into the next quarter.