Trading Strategies for Pinterest Stock Before And After Q4 Earnings
Portfolio Pulse from Melanie Schaffer
Pinterest, Inc (NYSE:PINS) is anticipated to release its Q4 earnings after market close on Thursday, with expectations set for an EPS of 51 cents on revenues of $989.53 million. The stock has shown strong performance since its Q3 earnings beat, with technical analysis suggesting a potential uptrend continuation. Keybanc analyst Justin Patterson has given Pinterest an Overweight rating with a price target of $48. For diversification, investors might consider the AXS 2X Innovation ETF (NASDAQ:TARK) or the AXS Short Innovation Daily ETF (NASDAQ:SARK), both related to the performance of ARK Innovation ETF (NYSE:ARKK), which holds Pinterest stock.
February 08, 2024 | 7:46 pm
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POSITIVE IMPACT
ARKK, holding a 0.42% weighting of Pinterest, could see its performance influenced by Pinterest's upcoming earnings, impacting both TARK and SARK ETFs.
Given ARKK's inclusion of Pinterest in its portfolio, the outcome of Pinterest's Q4 earnings could directly affect ARKK's performance, subsequently influencing the performance of TARK and SARK.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Pinterest is expected to release strong Q4 earnings, with a positive outlook from analysts and a potential uptrend continuation indicated by technical analysis.
Given the anticipation of strong Q4 earnings and a positive analyst rating, Pinterest's stock is likely to experience upward momentum in the short term. The technical analysis supports this bullish outlook.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
TARK, aiming to return 200% of the daily performance of ARKK, offers a diversified investment option for those bullish on Pinterest, as ARKK holds a 0.42% weighting of Pinterest.
TARK's direct link to ARKK's performance, which includes Pinterest as part of its portfolio, suggests that positive movements in Pinterest's stock could benefit TARK investors, offering a leveraged and diversified option.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
SARK, designed to inversely track the daily performance of ARKK, provides an option for investors bearish on Pinterest and its impact on ARKK's performance.
As SARK inversely tracks ARKK, which holds Pinterest, negative performance in Pinterest could theoretically benefit SARK investors, offering a hedge or bearish position against Pinterest's market movements.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70