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Is Pinterest (PINS) a 'Buy' Heading into Q3 Earnings Announcement?
Personal interest online platform Pinterest (PINS - Free Report) is set to report Q3 results Thursday after the closing bell. Pinterest, a Zacks Rank #3 (Hold), has exceeded earnings estimates in three of the past four quarters. But with overall ad revenues during the quarter a big question mark, is PINS a buy?
The visual discovery engine company is expected to post a profit of $0.05/share, representing a -82.14% decline relative to same quarter last year. Revenue forecasts of $664.97 million would translate to growth of 5.06%. Pinterest has exceeded revenue estimates in each of the last four quarters.
PINS is part of the Zacks Internet – Software industry group, which currently ranks in the top 33% out of all Zacks Ranked Industries. Companies in this industry have been hit hard recently amid lower ad revenues. Expect shares to be volatile when the company reports quarterly results.