Pinterest Stock Is Moving Higher Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Pinterest Inc (NYSE:PINS) reported strong Q3 earnings, with revenues of $763 million, beating estimates of $743.5 million, and EPS of 28 cents, surpassing estimates of 20 cents. The company's revenues were up 11% YoY, and global monthly active users increased 8% YoY to 482 million. Pinterest expects Q4 revenue growth of 11% to 13% YoY and a decline in operating expenses between 9% and 13%. Following the results, Keybanc, Rosenblatt, and BofA Securities analysts maintained or upgraded their ratings and raised their price targets for Pinterest.
October 31, 2023 | 12:50 pm
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Pinterest reported strong Q3 earnings, beating estimates, and expects positive Q4 growth. Analysts from Keybanc, Rosenblatt, and BofA Securities have maintained or upgraded their ratings and raised their price targets for the company.
Pinterest's strong Q3 earnings and positive Q4 outlook, along with the maintained or upgraded ratings and raised price targets from analysts, are likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100