Streetbeat News

PINS

Pinterest, Inc.

https://www.pinterest.com

Industry

Internet Content & Information

Pinterest, Inc. operates as a 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; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests. The company was formerly known as Cold Brew Labs Inc. and changed its name to Pinterest, Inc. in April 2012. Pinterest, Inc. was incorporated in 2008 and is headquartered in San Francisco, California.

Open

34.16

Mkt cap

23B

Volume

19M

High

34.65

P/E Ratio

117.00

52-wk high

45.19

Low

33.91

Div yield

N/A

52-wk low

27.00

The EU Commission has initiated proceedings against TikTok concerning the launch of TikTok Lite in France and Spain, investigating compliance with the Digital Services Act (DSA).

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 2:25 pm

A significant option activity was observed for Pinterest (PINS) with a sweep of 34 contracts for May 3 $32.5 calls, purchased near the ask price at $2.732 each, against an open interest of 3 contracts. This activity occurred with Pinterest's stock trading at $33.135, ahead of its earnings announcement scheduled for April 30 after the market closes.

Portfolio Pulse from Charles Gross

April 18, 2024 | 2:18 pm

A bill that could lead to the divestment or ban of TikTok is rapidly advancing through Congress, causing concern among traders and potentially impacting related tech companies.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 5:28 pm

JPMorgan analyst Doug Anmuth initiated coverage of Reddit, Inc (NYSE:RDDT) with a Neutral rating and a price target of $47, suggesting an 11% upside. Anmuth highlights Reddit's potential for 20%+ revenue growth in the next few years through ad tech improvements, self-serve expansion, and growing advertiser count. Reddit's partnership with Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) for data licensing presents additional upside. However, challenges in the competitive online advertising landscape and a valuation trading at approximately 5 times its estimated 2025 revenue are noted. Reddit's first public earnings report is anticipated on May 7.

Portfolio Pulse from Surbhi Jain

April 15, 2024 | 2:28 pm

Etsy Inc (NASDAQ:ETSY) is highlighted by Elliott Investment Management's Jesse Cohn for its significant long-term growth potential. Speaking at the Sohn Conference, Cohn, who revealed Elliott holds a 13% interest in Etsy, drew parallels to Pinterest Inc. (NYSE:PINS), suggesting Etsy could similarly expand its customer base and increase user spending. The appointment of Elliott's Marc Steinberg to Etsy's board is seen as a move to bolster strategic initiatives. ETSY shares rose 2.31% to $66.67.

Portfolio Pulse from Shivani Kumaresan

April 04, 2024 | 4:51 pm

Etsy Inc (NASDAQ:ETSY) shares rose following positive comments from Elliott Investment Management at the Sohn Conference. Elliott's managing partner, Jesse Cohn, highlighted Etsy's potential for significant growth, comparing it to Pinterest Inc (NYSE:PINS), where Elliott has influence. Cohn sees opportunities for Etsy in product engagement, monetization, and increasing buyer spending. Etsy's revenue has grown at an average rate of 40.78% annually over the past five years, with analysts predicting a 19.01% upside in 2025. Despite a year-to-date decline of nearly 20%, Etsy's stock was up 1.86% at the time of publication.

Portfolio Pulse from Adam Eckert

April 04, 2024 | 3:48 pm

Cathie Wood's Ark Invest purchased additional shares of Pinterest Inc (PINS), a competitor to Meta Platforms, through its Fintech Innovation ETF (ARKF). The acquisition of 26,925 Pinterest shares, valued at $949,914, underscores Ark Invest's continued confidence in Pinterest despite its mixed financial performance. Additionally, Ark Invest made other key trades, including selling Twilio Inc (TWLO) shares from ARKF, buying Verve Therapeutics Inc (VERV) and Personalis Inc (PSNL) for its Genomic Revolution ETF, and trading in Datadog Inc (DDOG) stock for its Next Generation Internet ETF.

Portfolio Pulse from Benzinga Neuro

April 04, 2024 | 2:17 am

Notable insider sales were reported for Walt Disney (DIS), Pinterest (PINS), Western Digital (WDC), and United Natural Foods (UNFI). These sales come amidst various company-specific news and analyst ratings, potentially indicating insiders' views on the companies' stock prices. Insider sales can be a factor in investment decisions but should not be the sole indicator.

Portfolio Pulse from Avi Kapoor

April 03, 2024 | 12:29 pm

Pinterest shares are trading higher after Piper Sandler reiterated its Overweight rating on the stock.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 7:28 pm

Recent analysis of Pinterest (NYSE:PINS) by 13 analysts over the past three months shows a variety of opinions, with an updated average 12-month price target of $42.85, an 18.3% increase from the previous target. The ratings range from bullish to indifferent, with notable raises in price targets by analysts from firms like JP Morgan and RBC Capital. Pinterest's financial health is strong, with significant revenue growth, high net margin, and efficient asset management. The company's focus on digital ads and e-commerce features, along with its substantial user base, positions it well for future growth.

Portfolio Pulse from Benzinga Insights

March 26, 2024 | 3:00 pm

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