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PINS Stock rallied 19.79% in a week, 18.27% YTD, and 46.13% in a year. - 2
Pinterest Inc., in a press conference, announced the date and time for its Q2 2023 earnings report.
Pinterest Inc. (NYSE: PINS) will release its Q2 2023 earnings report on August 1 at 4:30 p.m. ET. PINS Stock rallied 18.27% YTD. Additionally, Evercore ISI turned bullish for the social media company. This can be attributed to its improving advertising environment. Furthermore, some upgrades in the company is working on have caused the price action to swell noticeably.
Pinterest Inc. (PINS Stock) – Financial Analysis
Analysts interpret the company’s recent growth in terms of four aspects. First, improvement in digital ad spending has stabilized the company after the rough patches of 2022. Second, the new CEO, Bill Ready, made some alterations which are bearing fruits and considerably improved its operations.
Third, Pinterest witnessed material revenue growth and the possibility for margin expansion. Lastly, analysts view the stock’s current value as about 27 times the expected 2024 EBITDA and 21 times the expected 2025 EBITDA. When examining Pinterest’s competitors, it is observed that Snap Inc. (NYSE: SNAP) fell 1.94% to $13.11, and Meta Platforms Inc. (NASDAQ: META) gained 1.27% to $316.01.
Pinterest Inc. (NYSE: PINS) – Technical Analysis
At press time, PINS Stock is trading at $29.87 with a fall of 1.55%. Its previous close and open were at $30.31 and $30.44, respectively. The 52-week range is from $16.77 to $30.86, indicating that the price could break the high soon. With an average volume of 11.66 million shares, the market cap is $20.403 billion.
The trailing twelve months (ttm) earnings per share (EPS) is reported to be $0.44, indicating a weakness. Analysts placed a 2.50 rating for moderate buy and estimated a price target at $29.75 with a 0.2% downside.
Pinterest reported its last earnings on April 27, 2023, where the reported revenue was at $602.581 million. It gained 4.82% from the previous quarter and surpassed the estimated $594.155 million by 1.42%. At the same time, the reported earnings were $0.08 per share, which dropped by 20.00% from the previous quarter and exceeded the estimated value of $0.05 by 157.15%.
Despite these positive earnings, the share price fell by 23.96% for a few sessions before climbing back up. The subsequent payments will be reported on August 1, 2023, where the earnings shall be $0.119 per share and revenue should be $696.393 million.
Operating expenses rose by 56.16% to $675.34 million, and the (ttm) operating margin fell by 10.93%. The net income tumbled by 3,849.61 to minus $208.58 million, the net profit margin also fell by 3,661.96% to negative 34.61, and the profit margin is down by 10.58%.
Pinterest Inc. (PINS Stock) – Candle Exploration
NYSE: PINS has been consolidating in a range since August 2022. The recent parabolic rally caused the price action to break the range. Previous breakout attempts formed a point of crucial breakout at $28.89. If the rally continues, subsequent earnings could turn out to be positive, and if the price stabilizes here for a noticeable period, a bullish momentum can be seen.
However, if the reports were adverse or if the momentum failed, the price could come back below $28.89 and consolidate. Although the EMA shows a slight upward move, the RSI recently crossed the 80.00 mark, foreshadowing a minor fall. Even if this turns out to be true, there should not be a massive fall in the PINS share price.
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Source: https://www.thecoinrepublic.com/2023/07/20/pinterest-inc-pins-stock-earnings-announcement-expectations/