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What's Going On With Pinterest (PINS) Stock?
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What's Going On With Pinterest (PINS) Stock?
Jul 30, 2024 8:47 AM

Pinterest Inc ( PINS ) shares are trading higher by 0.86% to $37.66 during Tuesday’s session. Traders and investors are watching for the company’s second-quarter earnings report, confirmed for Tuesday’s after-hours session. According to analyst consensus estimates, Pinterest ( PINS ) is expected to report EPS of 28 cents on revenue of $847.8 million.

In April, Pinterest ( PINS ) reported a 23% year-over-year increase in first-quarter revenue, reaching $740 million, surpassing the expected $699.872 million. The company reported a loss of 4 cents per share, better than the anticipated loss of 9 cents per share. Global monthly active users grew by 12% to a record 518 million.

What Else?

RBC analyst Brad Erickson recently reaffirmed an Outperform rating on Pinterest ( PINS ) with a $52 price target, highlighting the platform’s strong potential for inspiration and discovery within niche topics. Erickson believes recent changes, such as direct links and a partnership with Amazon.com Inc, could enhance ad relevance and conversion, benefiting advertisers despite increased ad loads.

Erickson is optimistic about Pinterest's ( PINS ) monetization improvements and sees the company deserving a premium for addressing its historical under-monetization…

Read Also: Magnificent 7 Face Pivotal Market Moment As 4 Mega Tech Giants Report Earnings This Week

How To Buy PINS Stock

By now you're likely curious about how to participate in the market for Pinterest ( PINS ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of Pinterest ( PINS ), which is trading at $37.66 as of publishing time, $100 would buy you 2.68 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, PINS has a 52-week high of $45.18 and a 52-week low of $23.59.

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