Pinterest (PINS) closed at $18.76 in the latest trading session, marking a +1.74% move from the prior day. This change outpaced the S&P 500's 0.91% gain on the day. Meanwhile, the Dow gained 1.22%, and the Nasdaq, a tech-heavy index, added 1%.
Heading into today, shares of the digital pinboard and shopping tool company had lost 7.75% over the past month, lagging the Computer and Technology sector's gain of 1.41% and the S&P 500's gain of 1.65% in that time.
Investors will be hoping for strength from PINS as it approaches its next earnings release.
It is also important to note the recent changes to analyst estimates for PINS. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. PINS is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PINS in the coming trading sessions, be sure to utilize Zacks.com.
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Pinterest, Inc. (PINS) : Free Stock Analysis Report
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