Pinterest (PINS)

NYSECommunication ServicesInternet Content & InformationSnapshot 2026-10-23

$22.32-2.66%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Pinterest’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

+0.3%

+10% or more+5%0%−5%−10% or less

2.40 → 2.40 EPS · FY ending Dec 31, 2027 · 20 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 20 to 20; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q3
Revenue	$1.19B–$1.21B	—
EBITDA	$335M–$355Mnon-GAAP	—
FY 2026 · Q4
Revenue	—	1.52B
EPS	—	0.85
FY 2026 · Annual
Revenue	—	4.91B
EPS	—	2.025
FY 2027 · Annual
Revenue	—	5.56B
EPS	—	2.401

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Achieve adjusted EBITDA near $207 million quarterly	A supporting condition in Pinterest's published investment case. The stated target is >=207 million USD adjusted EBITDA.	Intact	Adjusted EBITDA falls below $150 million in Q2 FY2026	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Manage debt and share buybacks prudently	A supporting condition in Pinterest's published investment case. The stated target is Maintain net debt below $1.5 billion and continue buybacks.	Intact	Net debt rises above $2 billion or buybacks halt	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Sustain revenue growth near 16% annually	A primary condition in Pinterest's published investment case. The stated target is >=16% YoY revenue growth.	Intact	YoY revenue growth falls below 10% in FY26	Revenue growth: 18.17% FY2026-Q2; GAAP. Published target: >=16% YoY revenue growth. Target period is not explicitly aligned with this observation. Source published Aug 4, 202618.174924 percent · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 102a50a3-2b8d-4843-9e75-17a0f3a750af. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Revenue grew from $998 million in 2025-Q2 to $1,180 million in 2026-Q2, an 18% increase year over year. Global monthly active users rose 11% to 640 million in 2026-Q2. The trajectory is delivering consistent double-digit revenue and user growth as management emphasized. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$2.40

$2.23 → $2.40 · observed estimates

FY2027 revenue$5.56B

$5.48B → $5.56B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$2.23	$5,478,840,870	25 / 36
2026-07-25	$2.23	$5,478,840,870	25 / 36
2026-07-26	$2.23	$5,478,840,870	25 / 36
2026-07-27	$2.23	$5,478,840,870	25 / 36
2026-07-28	$2.24	$5,485,638,075	21 / 28
2026-07-29	$2.24	$5,485,638,075	21 / 28
2026-07-30	$2.23	$5,478,840,870	25 / 36
2026-07-31	$2.22	$5,485,652,541	20 / 28
2026-08-01	$2.22	$5,485,652,541	20 / 28
2026-08-02	$2.22	$5,485,652,541	20 / 28
2026-08-03	$2.22	$5,485,652,541	20 / 28
2026-08-04	$2.23	$5,478,870,700	25 / 36
2026-08-05	$2.22	$5,485,680,319	20 / 28
2026-08-06	$2.22	$5,485,680,319	20 / 28
2026-08-07	$2.41	$5,555,243,662	20 / 28
2026-08-08	$2.38	$5,550,288,110	25 / 36
2026-08-09	$2.41	$5,555,243,662	20 / 28
2026-08-10	$2.41	$5,555,243,662	20 / 28
2026-08-12	$2.41	$5,555,243,662	20 / 28
2026-08-13	$2.41	$5,555,243,662	20 / 28
2026-08-14	$2.41	$5,555,243,662	20 / 28
2026-08-15	$2.41	$5,555,243,662	20 / 28
2026-08-16	$2.41	$5,555,243,662	20 / 28
2026-08-17	$2.41	$5,555,243,662	20 / 28
2026-08-18	$2.41	$5,555,243,662	20 / 28
2026-08-19	$2.41	$5,555,243,662	20 / 28
2026-08-20	$2.41	$5,551,812,704	20 / 28
2026-08-21	$2.41	$5,551,812,704	20 / 28
2026-08-22	$2.41	$5,551,812,704	20 / 28
2026-08-23	$2.41	$5,551,812,704	20 / 28
2026-08-24	$2.41	$5,551,812,704	20 / 28
2026-08-25	$2.41	$5,551,812,175	20 / 28
2026-08-26	$2.41	$5,551,812,175	20 / 28
2026-08-27	$2.41	$5,551,812,175	20 / 28
2026-08-28	$2.41	$5,551,812,175	20 / 28
2026-08-29	$2.41	$5,551,812,175	20 / 28
2026-08-30	$2.41	$5,551,812,175	20 / 28
2026-08-31	$2.41	$5,551,812,175	20 / 28
2026-09-01	$2.41	$5,551,826,615	20 / 28
2026-09-02	$2.41	$5,551,826,615	20 / 28
2026-09-03	$2.41	$5,551,826,615	20 / 28
2026-09-04	$2.41	$5,551,826,615	20 / 28
2026-09-05	$2.41	$5,551,826,615	20 / 28
2026-09-06	$2.41	$5,551,826,615	20 / 28
2026-09-07	$2.41	$5,551,826,615	20 / 28
2026-09-08	$2.41	$5,551,812,858	20 / 28
2026-09-09	$2.41	$5,551,812,858	20 / 28
2026-09-10	$2.41	$5,551,812,858	20 / 28
2026-09-11	$2.41	$5,551,784,287	20 / 28
2026-09-12	$2.41	$5,551,784,287	20 / 28
2026-09-13	$2.41	$5,551,784,287	20 / 28
2026-09-14	$2.41	$5,551,784,287	20 / 28
2026-09-15	$2.41	$5,551,812,858	20 / 28
2026-09-16	$2.41	$5,551,812,858	20 / 28
2026-09-17	$2.40	$5,553,192,648	20 / 28
2026-09-18	$2.40	$5,553,192,648	20 / 28
2026-09-19	$2.40	$5,553,192,648	20 / 28
2026-09-20	$2.40	$5,553,192,648	20 / 27
2026-09-21	$2.40	$5,553,192,648	20 / 27
2026-09-22	$2.40	$5,553,192,648	20 / 27
2026-09-23	$2.40	$5,553,192,648	20 / 27
2026-09-24	$2.40	$5,553,192,648	20 / 27
2026-09-25	$2.41	$5,557,987,144	20 / 27
2026-09-26	$2.41	$5,557,987,144	20 / 27
2026-09-27	$2.41	$5,557,987,144	20 / 27
2026-09-28	$2.41	$5,557,987,144	20 / 27
2026-09-29	$2.41	$5,557,987,144	20 / 27
2026-09-30	$2.41	$5,557,987,144	20 / 27
2026-10-01	$2.41	$5,558,227,341	20 / 27
2026-10-02	$2.41	$5,558,227,341	20 / 27
2026-10-03	$2.41	$5,558,227,341	20 / 27
2026-10-04	$2.41	$5,558,227,341	20 / 27
2026-10-05	$2.41	$5,558,227,341	20 / 27
2026-10-06	$2.41	$5,558,227,341	20 / 27
2026-10-07	$2.41	$5,558,226,475	20 / 27
2026-10-08	$2.41	$5,558,226,475	20 / 27
2026-10-09	$2.41	$5,558,226,475	20 / 27
2026-10-10	$2.41	$5,558,226,475	20 / 27
2026-10-11	$2.41	$5,558,226,475	20 / 27
2026-10-12	$2.41	$5,558,226,475	20 / 27
2026-10-13	$2.41	$5,559,455,047	20 / 27
2026-10-14	$2.41	$5,559,455,047	20 / 27
2026-10-15	$2.41	$5,558,764,266	20 / 27
2026-10-16	$2.41	$5,558,764,266	20 / 27
2026-10-17	$2.41	$5,558,764,266	20 / 27
2026-10-18	$2.41	$5,558,764,266	20 / 27
2026-10-19	$2.41	$5,558,778,023	20 / 27
2026-10-20	$2.40	$5,558,479,147	20 / 28
2026-10-21	$2.40	$5,558,479,147	20 / 28
2026-10-22	$2.40	$5,558,483,758	20 / 28
2026-10-23	$2.40	$5,558,483,758	20 / 28
2026-10-24	$2.40	$5,559,658,758	20 / 28

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	19	20	1
2026-06-01	19	19	0
2026-07-01	19	20	0
2026-08-01	19	20	0
2026-09-01	19	20	0
2026-10-01	20	19	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 20 Buy / Strong Buy · 19 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Achieve adjusted EBITDA near $207 million quarterlyDirect metric needs a verified mapping
Manage debt and share buybacks prudentlyDirect metric needs a verified mapping
Sustain revenue growth near 16% annuallyRevenue growth: 18.17%

Next proof point

Oct 29, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.7%Typical daily move · historical

Downside history

-56.2%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Pinterest outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

PINS is a growth business with improving profitability, rather than a deep-value case. Its long-term thesis remains supported by user and revenue growth, but the current state is watch, with medium confidence after the signal turned mixed.

What's priced into Pinterest

PINS trades at a 1.17 premium versus peers, while the valuation evidence labels expectations as justified and aligned. The expectations gap is negative, suggesting the market's embedded expectations are not especially forgiving; however, no fragility gates have fired.

What the fundamentals likely do

In the near term, recent financial performance is neutral and sits below the industry cohort, while earnings quality is robust. Over the multi-year view, revenue rose 18% year over year and monthly active users rose 11% in 2026-Q2; Adjusted EBITDA rose 24%, with management on track against its stated priorities. Elevated risk, a sector headwind, and a recent CFO transition add uncertainty, and a guidance cut on the next call is a stated downside trigger.

What Pinterest hinges on

The thesis depends on continued revenue and user growth, delivery of Adjusted EBITDA guidance, and progress on the share repurchase program, which remains on watch. Near-term support could come from rate cuts or strong results and guidance from sector bellwethers, while a guidance cut would weaken the case.