Pinterest (PINS) closed the most recent trading day at $32.40, moving -1.55% from the previous trading session. This change lagged the S&P 500's 0.88% loss on the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.

The digital pinboard and shopping tool company's stock has dropped by 4.14% in the past month, falling short of the Computer and Technology sector's loss of 3.33% and the S&P 500's loss of 2.57%.

Market participants will be closely following the financial results of Pinterest in its upcoming release. The company plans to announce its earnings on April 30, 2024. The company is predicted to post an EPS of $0.14, indicating a 75% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $699.44 million, indicating a 16.07% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $1.34 per share and a revenue of $3.58 billion, demonstrating changes of +22.94% and +17.32%, respectively, from the preceding year.

It is also important to note the recent changes to analyst estimates for Pinterest. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Pinterest currently has a Zacks Rank of #1 (Strong Buy).

In the context of valuation, Pinterest is at present trading with a Forward P/E ratio of 24.61. This indicates a discount in contrast to its industry's Forward P/E of 27.78.

It's also important to note that PINS currently trades at a PEG ratio of 1.23. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 1.72.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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