An interesting stock that came up in some of our conversations today is Pinterest, Inc. (NYSE:PINS). At current price of $22.53, the shares have already added 0.77 points (3.54% higher) from its previous close of $21.76. Should you buy or avoid them? The stock sets an active trading volume day with a reported 4965972 contracts so far this session. PINS shares had a relatively better volume day versus average trading capacity of 10.92 million shares, but with a 0.31 billion float and a 10.34% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PINS stock indicates that the average analyst price target is $26.57 per share. This means the stock has a potential increase of 17.93% from where the PINS share price has been trading recently.
Looking at the current readings for Pinterest, Inc., the two-week RSI stands at 76.21. This figure suggests that PINS stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current PINS readings is similarly very revealing as it has a stochastic reading of 83.85% at this stage. This figure means that PINS share price today is being oversold.
Technical chart claims that Pinterest, Inc. (PINS) would settle between $22.6/share to $23.44/share level. However, if the stock price goes below the $21.27 mark, then the market for Pinterest, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $20.78 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.63. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Bernstein, assumed coverage of PINS assigning Mkt Perform rating, according to their opinion released on January 10. Monness Crespi & Hardt, analysts launched coverage of Pinterest, Inc. (NYSE:PINS) stock with a Neutral recommendation, according to their flash note issued to investors on December 16. Analysts at DA Davidson released an upgrade from Neutral to Buy for the stock, in a research note that dated back to November 01.
PINS equity has an average rating of 2.35, with the figure leaning towards a bullish end. 20 analysts who tracked the company were contacted by Reuters. Amongst them, 10 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 9 analysts rated Pinterest, Inc. (NYSE:PINS) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, PINS stock price is currently trading at 310.86X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 37.1. Pinterest, Inc. current P/B ratio of 6.2 means it is trading at a premium against its industry’s 5.5.