The shares were sold at an average price of $25.47, for a total transaction of $584,714.79. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Pinterest during the 4th quarter worth about $38,000. Sandy Cove Advisors LLC purchased a new position in shares of Pinterest during the 4th quarter worth about $33,000. KRS Capital Management LLC purchased a new position in shares of Pinterest during the 4th quarter worth about $26,000. Musk offered to buy the social media company for $54.20 a share, two weeks after revealing he’d accumulated a 9% stake.įourThought Financial LLC now owns 724 shares of the company’s stock worth $26,000 after acquiring an additional 494 shares during the period. Investors again turned their attention to the drama surrounding Tesla founder and CEO Elon Musk and Twitter. Musk has criticized Twitter for not living up to free speech principles and said, in a regulatory filing, that it needs to be transformed as a private company. We can see that PINS stock is trading at a forward price to 2022 sales multiple of 5.60x and a price to earnings multiple of 24.4x, which is quite reasonable. Analysts expect revenue to rise by 22% to $3.14 billion in 2022 and by 27.7% to $4 billion in 2023. This is because Pinterest should witness an acceleration of its revenue growth again in the second half of 2022, given a more favorable base for comparison. In my opinion, I think Pinterest’s stock price might see a small rebound or go up slightly in the next one year. This explains why Pinterest is forecasted to generate faster YoY top line expansion of +22.5%, +26.5% and +26.3% for Q3 2022, Q4 2022, and Q1 2023, respectively, according to the sell-side analysts’ consensus estimates. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I have why is pinterest stock down no business relationship with any company whose stock is mentioned in this article. Let’s see if the pullback provides investors with a buying opportunity right now. PINS’ valuations have de-rated because of slower revenue growth expectations, and this seems quite fair which justifies my Hold rating.Īlthough we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination. A potential rebound to $50 or where the stock was trading three months ago would make the stock a very attractive investment proposition, but I don’t think this is very likely. In this photo provided by the New York Stock Exchange, specialist Dilip Patel, center, works at his post on the floor, Thursday, April 14, 2022. In this photo provided by the New York Stock Exchange, specialist Stephen Naughton, right, works at his post on the floor, Thursday, April 14, 2022. In this photo provided by the New York Stock Exchange, trader James Conti works on the floor, Thursday, April 14, 2022. Stocks wavered in morning trading on Wall Street Thursday as investors reviewed the latest economic data and corporate earnings amid lingering concerns about inflation and rising interest rates.
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