What to Watch When Pinterest Reports After the Close
Pinterest is scheduled to release its first-quarter financial results after the markets close on Thursday, its first financial report as a public company.
Pinterest Inc. (NYSE: PINS) is scheduled to release its first-quarter financial results after the markets close on Thursday. The consensus estimates call for a net loss of $0.11 per share and $200.61 million in revenue.
This will be the first financial report that Pinterest will make as a public company. In mid-April, Pinterest entered the market with a bang and has done very well since then, all things considering.
Pinterest operates a social media site that is similar to an online scrapbook. Basically, the firm allows users to create a compilation of images and other media according to their interests, hobbies and so on. Then users may share their media or “pins” with other users.
Some companies have taken advantage of Pinterest’s opportunities as a means to captivate hobbyists and grow their own customer bases. The company recently developed a “Buy” button on the site that allows users to purchase goods from other companies through the Pinterest site.
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Excluding Thursday’s move, Pinterest has outperformed the broad markets, with its stock up about 17% since its IPO.
A few analysts weighed in on Pinterest ahead of the report:
- Robert Baird has an Outperform rating and a $36 price target.
- RBC has a Sector Perform rating with a $28 price target.
- Deutsche Bank has a Hold rating.
- Credit Suisse’s Neutral rating comes with a $28 target.
- UBS has a Neutral rating with a $31 price target.
- Merrill Lynch has a Neutral rating and a $32 target.
Shares of Pinterest were last seen up about 4% at $29.70 on Thursday, in a 52-week range of $28.47 to $29.88. The consensus price target is $27.97.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
