Pinterest, Inc. · PINS · FY2025 Q4 · Calendar Q1 2026

Pinterest’s user growth and AI momentum meet weaker ad revenue

The quarter supports a mixed case: record user growth and AI-driven discovery offer engagement and ad-product opportunities, but retailer pullbacks, tariff exposure and weaker ad pricing temper confidence that demand will translate cleanly into revenue growth.

Reported After market closeNYSECommunication Services $10.97B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.67 Consensus $0.66
EPS surprise +1.5% Reported versus consensus
Reported revenue $1.32B Consensus $1.33B
Revenue surprise -0.8% Reported versus consensus

Market reaction

event-close to next-session close
Stock move -16.8% Event window
SPY move +0.1% Same window
Abnormal move -16.9% Stock minus SPY
Volume 4.0× Versus trailing sessions
Subsequent drift +18.5% Up to 20 sessions
PINSSPY benchmark

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Transcript intelligence

What changed

Management analysis describes Q4 revenue growth as slowing amid tariff-related pressure and lower spending by large retailers. User growth remained strong, and management emphasized AI models and a broader advertiser mix as responses; the supplied analysis also cites planned TV Scientific integration as an expansion into connected-TV advertising.

Guidance delta

Guidance sentiment was characterized as maintained. The supplied analysis says Q1 2026 revenue growth guidance was 11–14%, with modest cost pressure and a 100-basis-point EBITDA margin impact associated with the pending TV Scientific acquisition.

Key takeaways

  • MAUs grew 12% year over year to 619 million, according to the supplied transcript analysis.
  • Revenue was $1.319 billion, below the $1.330 billion estimate; reported EPS was $0.67 versus a $0.66 estimate.
  • AI models and visual discovery remain central to management’s product and ad-performance plans.
  • Tariff-related headwinds and reduced spending from large retailers weighed on revenue growth.
  • The pending TV Scientific acquisition brings integration, approval and near-term margin considerations.

Management priorities

  • Scale AI models and Pinterest Assistant to support discovery and engagement.
  • Broaden the advertiser base across SMB, mid-market and international customers.
  • Improve Performance Plus and related ad tools.
  • Integrate TV Scientific, subject to regulatory approval, and expand connected-TV advertising.
  • Invest in GPU capacity while pursuing cost-of-revenue efficiency.

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Earnings History

Estimate Beat Miss Match
PINS EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q2 '24 estimate $0.28 Q2 '24 actual $0.29, match Q3 '24 estimate $0.34 Q3 '24 actual $0.40, beat Q2 '25 estimate $0.35 Q2 '25 actual $0.33, miss Q3 '25 estimate $0.42 Q3 '25 actual $0.38, miss Q4 '25 estimate $0.66 Q4 '25 actual $0.67, match Q1 '26 estimate $0.22 Q1 '26 actual $0.27, beat Q2 '26 estimate $0.36 Q2 '26 actual $0.43, beat Q3 '26 estimate $0.49 Q3 '26 actual $0.46, miss Q4 '26 estimate $0.80 Q1 '27 estimate $0.33 Q2 '27 estimate $0.48 Q3 '27 estimate $0.55
Show 2 more >

Analyst Consensus ?

ConsensusBuy48 ratings
Bullish2654.2%
Neutral2143.7%
Bearish12.1%

Analyst 52W Price Targets

$20.31Current
$16Low
$31.7Average
$100High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Wells Fargo Overweight OverweightMaintainOct 30, 2026
Wedbush Neutral NeutralMaintainOct 30, 2026
UBS Buy BuyMaintainOct 30, 2026
Susquehanna Positive PositiveMaintainOct 30, 2026
StoneX Buy BuyMaintainOct 30, 2026
Rosenblatt Neutral NeutralMaintainOct 30, 2026
RBC Capital Sector Perform Sector PerformMaintainOct 30, 2026
JP Morgan Neutral NeutralMaintainOct 30, 2026
Guggenheim Buy BuyMaintainOct 30, 2026
Goldman Sachs Buy BuyMaintainOct 30, 2026
Evercore ISI Group In Line In LineMaintainOct 30, 2026
Cantor Fitzgerald Overweight OverweightMaintainOct 30, 2026
Barclays Equal Weight Equal WeightMaintainOct 30, 2026
Keybanc Overweight OverweightMaintainOct 28, 2026
DA Davidson Buy BuyMaintainAug 5, 2026
Citigroup Neutral NeutralMaintainAug 5, 2026
BMO Capital Outperform OutperformMaintainAug 5, 2026
Mizuho Outperform OutperformMaintainJul 22, 2026
TD Cowen Buy BuyMaintainMay 5, 2026
Stifel Buy BuyMaintainMay 5, 2026
Piper Sandler Neutral NeutralMaintainMay 5, 2026
Oppenheimer Outperform OutperformMaintainMay 5, 2026
Morgan Stanley Overweight OverweightMaintainMay 5, 2026
Baird Neutral NeutralMaintainMay 5, 2026
Benchmark Buy BuyMaintainApr 30, 2026
BWG Global Mixed PositiveDowngradeApr 24, 2026
Argus Research Hold BuyDowngradeMar 2, 2026
Loop Capital Hold BuyDowngradeFeb 13, 2026
B of A Securities Neutral BuyDowngradeFeb 13, 2026
Roth Capital Neutral NeutralMaintainJan 30, 2026
Bernstein Outperform OutperformMaintainNov 5, 2025
Wolfe Research Outperform Peer PerformUpgradeMay 15, 2025
Raymond James Outperform OutperformMaintainFeb 7, 2025
Jefferies Hold BuyDowngradeJan 13, 2025
Roth MKM Neutral NeutralMaintainNov 8, 2024
Credit Suisse Neutral NeutralMaintainAug 2, 2023
MKM Partners Neutral BuyDowngradeJan 20, 2023
Cleveland Research Neutral BuyDowngradeMar 17, 2022
OTR Global Mixed PositiveDowngradeJan 25, 2022
LightShed Partners Buy BuyMaintainApr 22, 2021
Deutsche Bank Buy BuyMaintainFeb 5, 2021
Pivotal Research Buy HoldUpgradeAug 3, 2020
Nomura Instinet Buy BuyMaintainMay 6, 2020
Nomura Buy BuyMaintainMay 6, 2020
Monness Crespi Hardt Neutral NeutralMaintainDec 16, 2019
Argus Buy HoldUpgradeAug 15, 2019
Citi Buy BuyMaintainAug 2, 2019
Zephrin Group Sell SellMaintainApr 22, 2019
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Named analyst price targets

Upside is calculated against the persisted current price $20.31. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
KeyBancJustin Patterson$25$19.36 +23.1%Nov 2, 2026
BernsteinMark Shmulik$22$18.41 +8.3%Oct 30, 2026
RBC CapitalBrad Erickson$22$18.42 +8.3%Oct 30, 2026
Cantor FitzgeraldDeepak Mathivanan$23$18.32 +13.2%Oct 30, 2026
GuggenheimMichael Morris$22$19.91 +8.3%Oct 30, 2026
UBSStephen Ju$32$19.91 +57.6%Oct 30, 2026
SusquehannaShyam Patil$25$19.91 +23.1%Oct 30, 2026
Evercore ISIMark Mahaney$24$19.91 +18.2%Oct 30, 2026
Evercore ISIAnalyst unavailable$23$19.91 +13.2%Oct 30, 2026
Goldman SachsEric Sheridan$26$19.91 +28.0%Oct 30, 2026
KeyBancAnalyst unavailable$28$20.55 +37.9%Oct 28, 2026
Wells FargoAnalyst unavailable$31$23.36 +52.6%Aug 6, 2026
D.A. DavidsonAnalyst unavailable$27$24.38 +32.9%Aug 5, 2026
Robert W. BairdColin Sebastian$26$24.5 +28.0%Aug 5, 2026
Evercore ISIAnalyst unavailable$29$24.59 +42.8%Aug 5, 2026
RBC CapitalAnalyst unavailable$25$25.58 +23.1%Aug 5, 2026
UBSAnalyst unavailable$33$25.58 +62.5%Aug 5, 2026
BarclaysAnalyst unavailable$31$25.58 +52.6%Aug 5, 2026
BMO CapitalBrian Pitz$34$25.58 +67.4%Aug 5, 2026
Mizuho SecuritiesAnalyst unavailable$31$22.84 +52.6%Jul 22, 2026
D.A. DavidsonAnalyst unavailable$26$22.42 +28.0%Jul 7, 2026
Wells FargoAnalyst unavailable$30$22.25 +47.7%Jul 7, 2026
BMO CapitalAnalyst unavailable$30$23.42 +47.7%May 5, 2026
Deutsche BankAnalyst unavailable$24$23.67 +18.2%May 5, 2026
Evercore ISIMark Mahaney$27$23.72 +32.9%May 5, 2026
Stifel NicolausAnalyst unavailable$27$23.39 +32.9%May 5, 2026
Mizuho SecuritiesAnalyst unavailable$30$23.76 +47.7%May 5, 2026
GuggenheimAnalyst unavailable$24$20.86 +18.2%May 5, 2026
Piper SandlerAnalyst unavailable$26$20.86 +28.0%May 5, 2026
Robert W. BairdColin Sebastian$24$20.86 +18.2%May 5, 2026
Goldman SachsAnalyst unavailable$28$20.86 +37.9%May 5, 2026
BarclaysAnalyst unavailable$27$20.86 +32.9%May 5, 2026
Redburn PartnersJoseph Barker$23$19.92 +13.2%Apr 27, 2026
UBSAnalyst unavailable$29$20.64 +42.8%Apr 21, 2026
Goldman SachsEric Sheridan$23$15.16 +13.2%Feb 13, 2026
RBC CapitalBrad Erickson$17$15.16 -16.3%Feb 13, 2026
Deutsche BankBenjamin Black$16$14.76 -21.2%Feb 13, 2026
BernsteinMark Shmulik$20$14.78 -1.5%Feb 13, 2026
WedbushScott Devitt$16$14.78 -21.2%Feb 13, 2026
Cantor FitzgeraldAnalyst unavailable$18$14.59 -11.4%Feb 13, 2026
OppenheimerJason Helfstein$24$14.89 +18.2%Feb 13, 2026
BMO CapitalBrian Pitz$28$14.82 +37.9%Feb 13, 2026
UBSAnalyst unavailable$26$18.52 +28.0%Feb 13, 2026
Stifel NicolausAnalyst unavailable$25$18.52 +23.1%Feb 13, 2026
Wells FargoKen Gawrelski$27$14.43 +32.9%Feb 13, 2026
Piper SandlerThomas Champion$21$18.52 +3.4%Feb 13, 2026
GuggenheimAnalyst unavailable$25$18.52 +23.1%Feb 13, 2026
Loop Capital MarketsAnalyst unavailable$18$18.52 -11.4%Feb 13, 2026
BarclaysAnalyst unavailable$25$18.52 +23.1%Feb 13, 2026
Evercore ISIAnalyst unavailable$25$18.52 +23.1%Feb 13, 2026
Robert W. BairdAnalyst unavailable$20$18.52 -1.5%Feb 13, 2026
Mizuho SecuritiesAnalyst unavailable$35$22 +72.3%Feb 3, 2026
KeyBancAnalyst unavailable$35$22 +72.3%Feb 3, 2026
HSBCAnalyst unavailable$24.9$22.08 +22.6%Jan 30, 2026
Roth CapitalAnalyst unavailable$29$22.21 +42.8%Jan 30, 2026
UBSAnalyst unavailable$40$25.91 +96.9%Jan 20, 2026
Morgan StanleyBrian Nowak$35$27.57 +72.3%Jan 13, 2026
Goldman SachsAnalyst unavailable$32$26.82 +57.6%Jan 13, 2026
Wolfe ResearchShweta Khajuria$33$26.5 +62.5%Jan 5, 2026
WedbushAnalyst unavailable$30$26.86 +47.7%Dec 8, 2025
Morgan StanleyAnalyst unavailable$32$25.5 +57.6%Nov 26, 2025
Piper SandlerAnalyst unavailable$33$25.98 +62.5%Nov 5, 2025
Evercore ISIMark Mahaney$40$25.98 +96.9%Nov 5, 2025
Seaport GlobalAaron Kessler$42$25.93 +106.8%Nov 5, 2025
Roth CapitalAnalyst unavailable$34$25.92 +67.4%Nov 5, 2025
Cantor FitzgeraldDeepak Mathivanan$34$25.88 +67.4%Nov 5, 2025
Goldman SachsEric Sheridan$36$25.9 +77.3%Nov 5, 2025
BMO CapitalBrian Pitz$35$25.86 +72.3%Nov 5, 2025
GuggenheimMichael Morris$38$25.95 +87.1%Nov 5, 2025
Wells FargoAnalyst unavailable$35$32.91 +72.3%Nov 5, 2025
BarclaysAnalyst unavailable$36$32.91 +77.3%Nov 5, 2025
BernsteinMark Shmulik$40$32.91 +96.9%Nov 5, 2025
UBSStephen Ju$48$32.91 +136.3%Nov 5, 2025
UBSStephen Ju$51$31.44 +151.1%Oct 9, 2025
Mizuho SecuritiesAnalyst unavailable$50$33.32 +146.2%Sep 29, 2025
Stifel NicolausMark Kelley$47$35.13 +131.4%Aug 8, 2025
SusquehannaShyam Patil$42$36.1 +106.8%Aug 8, 2025
Piper SandlerRoss Sandler$40$39.17 +96.9%Aug 8, 2025
Wells FargoAnalyst unavailable$42$35.68 +106.8%Jul 1, 2025
GuggenheimAnalyst unavailable$40$34.04 +96.9%Mar 24, 2025
Roth CapitalRohit Kulkarni$32$33.08 +57.6%Feb 3, 2025
MonnessBrian White$40$30.66 +96.9%Jan 10, 2025
WedbushScott Devitt$38$32.72 +87.1%Nov 11, 2024
Evercore ISIMark Mahaney$45$29.25 +121.6%Nov 8, 2024
KeyBancJustin Patterson$45$32.92 +121.6%Oct 9, 2024
Robert W. BairdColin Sebastian$41$32.86 +101.9%Oct 1, 2024
OppenheimerJason Helfstein$45$30.46 +121.6%Sep 24, 2024
Deutsche BankBenjamin Black$43$30.38 +111.7%Sep 23, 2024
HSBCMohammed Khallouf$39.5$28.86 +94.5%Sep 16, 2024
Cantor FitzgeraldDeepak Mathivanan$41$30.83 +101.9%Sep 4, 2024
Piper SandlerThomas Champion$45$30.81 +121.6%Aug 15, 2024
Loop Capital MarketsRob Sanderson$39$29.1 +92.0%Aug 5, 2024
RBC CapitalBrad Erickson$48$37.35 +136.3%Jul 31, 2024
Goldman SachsEric Sheridan$46$37.35 +126.5%Jul 31, 2024
Stifel NicolausMark Kelley$45$37.35 +121.6%Jul 31, 2024
JefferiesJames Heaney$47$37.35 +131.4%Jul 31, 2024
Evercore ISIMark Mahaney$48$37.35 +136.3%Jul 31, 2024
WedbushScott Devitt$46$43.5 +126.5%Jul 8, 2024
Wells FargoKen Gawrelski$49$43.12 +141.3%Jun 25, 2024
Piper SandlerThomas Champion$52$41.43 +156.0%May 23, 2024
Loop Capital MarketsRob Sanderson$49$40.41 +141.3%May 6, 2024
WedbushScott Devitt$44$33.45 +116.6%May 1, 2024
Piper SandlerThomas Champion$50$39.9 +146.2%May 1, 2024
RBC CapitalBrad Erickson$52$40.06 +156.0%May 1, 2024
Roth CapitalRohit Kulkarni$38$36.41 +87.1%Feb 9, 2024
Raymond JamesRick Patel$48$39.75 +136.3%Feb 5, 2024
Loop Capital MarketsJustin Patterson$48$39.75 +136.3%Feb 5, 2024
Argus ResearchJim Kelleher$45$37.09 +121.6%Jan 18, 2024
SusquehannaShyam Patil$35$27.76 +72.3%Aug 2, 2023
Loop Capital MarketsJustin Patterson$32$22.32 +57.6%Apr 28, 2023
MKM PartnersRohit Kulkarni$27$26.61 +32.9%Apr 27, 2023
Raymond JamesAaron Kessler$33$28.3 +62.5%Apr 6, 2023
GuggenheimMichael Morris$26$26.09 +28.0%Feb 7, 2023
Piper SandlerThomas Champion$30$23.61 +47.7%Dec 13, 2022
Piper SandlerThomas Champion$25$24.9 +23.1%Oct 28, 2022
Robert W. BairdColin Sebastian$32$24.9 +57.6%Oct 28, 2022
Piper SandlerThomas Champion$25$24.9 +23.1%Oct 28, 2022
Morgan StanleyBrian Nowak$18$24.9 -11.4%Oct 28, 2022
Credit SuisseStephen Ju$25$22.04 +23.1%Oct 27, 2022
Goldman SachsEric Sheridan$31$24.63 +52.6%Oct 5, 2022
Wolfe ResearchDeepak Mathivanan$28$22.1 +37.9%Sep 7, 2022
Robert W. BairdColin Sebastian$30$21.77 +47.7%Aug 19, 2022
Wells FargoBrian Fitzgerald$34$22.31 +67.4%Aug 2, 2022
Atlantic EquitiesJames Cordwell$30$19.99 +47.7%Aug 2, 2022
Credit SuisseStephen Ju$26$20.74 +28.0%Jul 19, 2022
Wolfe ResearchDeepak Mathivanan$49$17.56 +141.3%Jul 15, 2022
KeyBancJustin Patterson$36$19.92 +77.3%Jun 29, 2022
Goldman SachsEric Sheridan$24$18.18 +18.2%Jun 18, 2022
Morgan StanleyBrian Nowak$21$19.24 +3.4%Jun 11, 2022
Credit SuisseStephen Ju$31$17 +52.6%May 24, 2022
Loop Capital MarketsJustin Patterson$27$16.37 +32.9%May 24, 2022
MKM PartnersRohit Kulkarni$28$20.52 +37.9%May 1, 2022
SusquehannaAnalyst unavailable$22$19.31 +8.3%Apr 28, 2022
RBC CapitalAnalyst unavailable$26$19.46 +28.0%Apr 28, 2022
Piper SandlerThomas Champion$35$18.67 +72.3%Apr 28, 2022
Rosenblatt SecuritiesBarton Crockett$21$19.59 +3.4%Apr 25, 2022
CitigroupAnalyst unavailable$27$22.72 +32.9%Apr 20, 2022
MKM PartnersRohit Kulkarni$38$21.83 +87.1%Apr 18, 2022
Morgan StanleyBrian Nowak$30$24.81 +47.7%Apr 3, 2022
Credit SuisseStephen Ju$39$27.25 +92.0%Feb 4, 2022
UBSLloyd Walmsley$35$27.25 +72.3%Feb 4, 2022
J.P. MorganDoug Anmuth$36$27.25 +77.3%Feb 4, 2022
WedbushYgal Arounian$39$27.25 +92.0%Feb 4, 2022
Piper SandlerThomas Champion$46$27.25 +126.5%Feb 4, 2022
BarclaysRoss Sandler$37$27.25 +82.2%Feb 4, 2022
D.A. DavidsonTom Forte$33$27.25 +62.5%Feb 4, 2022
RBC CapitalBrad Erickson$34$27.25 +67.4%Feb 4, 2022
KeyBancJustin Patterson$37$24.51 +82.2%Feb 3, 2022
SusquehannaShyam Patil$32$27.33 +57.6%Feb 2, 2022
MKM PartnersRohit Kulkarni$42$29.56 +106.8%Jan 31, 2022
Stifel NicolausMark Kelley$34$29.56 +67.4%Jan 31, 2022
GuggenheimMichael Morris$31$26.74 +52.6%Jan 26, 2022
BernsteinMark Shmulik$35$28.46 +72.3%Jan 25, 2022
Wolfe ResearchDeepak Mathivanan$45$33.13 +121.6%Jan 4, 2022
CitigroupJason Bazinet$42$37.26 +106.8%Dec 22, 2021
Arete ResearchRocco Strauss$83$58.36 +308.7%May 10, 2021
LightShed PartnersRichard Greenfield$100$71.99 +392.4%Apr 22, 2021
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Company context

Snapshot as of publication

Pinterest, Inc. functions globally as a platform dedicated to visual discovery. Its core purpose is to empower individuals to unearth inspiration for various aspects of their lives, encompassing everything from culinary creations and personal style to home decor and do-it-yourself ventures. The platform facilitates this through diverse content formats, including video, product, and concept-based "Pins." Leveraging sophisticated visual machine learning, Pinterest provides personalized recommendations tailored to each user's unique preferences and interests. Established in 2008, the company was initially known as Cold Brew Labs Inc. before officially changing its name to Pinterest, Inc. in April 2012. Its corporate headquarters are located in San Francisco, California.

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-11-03T01:10:41.873243+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T01:10:41.870208+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.