Pinterest stock raised its second-quarter guidance
Shares of Pinterest Inc (NYSE:PINS) are up 10.7% at $30.83 at last glance, after the social media platform issued a stronger-than-expected current-quarter forecast. First-quarter revenue of $855 topped estimates, while adjusted earnings of 23 cents per share came in just below expectations.
A flood of analysts chimed in with price-target adjustments after the event. No fewer than seven raised their price targets, the highest coming from Citigroup to $41 from $38. On the other side of the coin, six issued price-target cuts, the steepest coming from Jefferies to $27 from $39.
The positive price action has Pinterest stock gapping above pressure at the 50-day moving average, which has lingered overhead since early March. Now trading at its highest levels since early April, PINS is breaking into positive territory for 2025 -- up 6.7% year to date.
Over in the options pits, 46,000 calls and 24,000 puts have been exchanged, which is eight times the overall volume typically seen at this point in the day. Expiring today, the weekly 5/9 29-strike call is the most popular, followed by the 32-strike call in the same series.
The security's Schaeffer's Volatility Scorecard (SVS) stands at an elevated 88 out of 100. This indicates PINS has exceeded option traders' volatility expectations during the past year -- a boon for options buyers.