Pinterest Stock Bounces After Earnings

Options traders and analysts are weighing in on PINS after the report

Deputy Editor
May 1, 2024 at 10:23 AM
facebook X logo linkedin

Pinterest Inc (NYSE:PINS) reported first-quarter earnings after the close last night, beating estimates with adjusted earnings of 20 per share on revenue of $740 million. The image-sharing social media firm also issued a second-quarter revenue forecast that was higher than expectations. In response, PINS is up 17.6% to trade at $39.35, on track for its biggest single-session gain since the post-earnings pop on Oct 31.

Options traders are piling on following the report. So far, 30,000 bullish bets have been exchanged compared to 15,000 bearish bets, total options volume that's 10 times the average intraday amount. The most popular position by far is the May 36 call.

Analysts are chiming in too, with at least 12 brokerages hiking their price target, the highest coming from RBC to $52 from $48. 

Today's bull gap puts PINS near its Feb. 6 year-to-date high of $41.60, breaking a channel of lower lows since that early-February high. Now above its 2024 breakeven mark, Pinterest stock is up 80.7% over the last 12 months.


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI