Pinterest

Pinterest Tanks Despite a Strong Quarter. What Wall Street Is Saying.

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Pinterest’s outlook for second-quarter growth was below Wall Street’s expectations.


Gabby Jones/Bloomberg


Pinterest

stock shed much of its 2021 gains Wednesday after the social media firm reported first-quarter results the evening before. Though the company’s earnings and revenue figures beat expectations, Wall Street honed in on disappointing user growth.

Shares of

Pinterest

(ticker: PINS) were down 13% to $67.49 in mid-day trading, while the S&P 500 index was flat. The drop cut the stock’s year-to-date gains to 2.5% and one-year gains to 223%.

Citi Research analyst
Jason Bazinet
noted that the company’s adjusted earnings and revenues were all

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