Pinterest Stock Brushes Off Bull Note Before Earnings

Short interest has surged during the past two reporting periods

Managing Editor
Feb 5, 2020 at 10:20 AM
facebook X logo linkedin


Social media platform Pinterest Inc (NYSE:PINS) is moving lower this morning ,despite seeing an initiation of coverage from Loop Capital of a "buy" rating and $29 price target yesterday evening. The firm even went on to say PINS has "great potential as an advertising and eCommerce platform," and that it could be "very profitable." At last check, PINS was down 2.2% at to trade at $21.95.

Pinterest stock has been struggling to build off its recent December-January upswing, with overhead resistance emerging from the $23 level in recent weeks. Added support at the 20-day moving average has been of value to the shares in 2020, backing the equity's now 18% year-to-date gain.

Heading into today analysts were split on the equity, with half sporting a "buy" or better rating, and remaining carrying a "hold." No "sells" are on the books, however, suggesting analyst outlook for the media name is relatively optimistic. 

Short interest has added a notable 27.3% during the past two reporting periods, and now accounts for 18.7% of the stock's total available float. At PINS' average pace of daily trading, it would take shorts under two days to buy back their bearish bets.

Looking ahead, Pinterest is slated to report fourth-quarter earnings and 2019's fiscal full-year results after the close tomorrow, Feb. 6. While the equity has only put out three reports since going public early last year, the stock has averaged a post-earnings swing of 16.4%, regardless of direction. This time around, the options market expects a slightly larger, 19% move for Friday's trading. 
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI