Pinterest Stock Is Facing Selling Pressure Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
Pinterest Inc (NYSE:PINS) shares are trading lower after the company reported Q2 financial results and issued Q3 guidance below estimates. Despite beating Q2 revenue and EPS estimates, the stock is facing selling pressure due to lower-than-expected Q3 revenue guidance. Analysts have lowered their price targets while maintaining positive ratings.
July 31, 2024 | 1:22 pm
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NEGATIVE IMPACT
Pinterest shares are down 7.1% after the company reported Q2 results that beat estimates but issued Q3 guidance below expectations. Analysts have lowered their price targets while maintaining positive ratings.
Pinterest's Q2 results exceeded expectations, but the lower-than-expected Q3 guidance has led to a significant drop in share price. Analysts' lowered price targets further contribute to the negative sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100