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Pinterest Q2 Results Top Estimates; Shares Fall
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Pinterest Q2 Results Top Estimates; Shares Fall

Shares of image sharing and social media company Pinterest, Inc. (PINS) declined about 19% to close at $58.32 in the extended trading session on Thursday despite its stronger-than-expected Q2 2021 results. The company’s solid performance was on the back of 125% jump in revenues.

Quarterly revenues stood at $613.21 million, up 125% from the same quarter last year, beating the consensus estimates of $561.88 million. Revenues from the United States market and International operations was up about 107% and 224%, respectively.

The company reported earnings per share (EPS) of $0.25, which compares favorably to a loss $0.07 per share in the same quarter last year. It surpassed the Street’s estimate of $0.13 per share.

Notably, the company’s global monthly active users (MAU) and average revenue per user (ARPU) also witnessed a growth of 9% and 89%, respectively.

The CEO of Pinterest, Ben Silbermann, said, “Our second-quarter results reflect both the strength of our business and the recent shift in consumer behavior we’ve seen as people spend less time at home.” (See Pinterest stock chart on TipRanks)

On July 28, Evercore ISI analyst Mark Mahaney reiterated a Buy rating on the stock with a price target of $98. The analyst’s price target implies upside potential of 36% from current levels.

Overall, the Street is cautiously optimistic about the stock with a Moderate Buy consensus based on 4 Buys and 3 Holds. The average Pinterest price target of $85.33 implies 18.5% upside potential from current levels.

Pinterest scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained 186% over the past year.

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Tronox Q2 Results Top Estimates; Shares Rise
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Facebook Shares Tumble 3.5% Despite Upbeat Q2 Results

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