Shares of Pinterest (NYSE:PINS) fell in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at $0.21, which beat analysts’ consensus estimate of $0.12 per share.
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Sales increased by 6.4% year-over-year, with revenue hitting $708.2 million. This beat analysts’ expectations by $12.53 million.
Looking forward, management now expects revenue to see high single-digit growth while non-GAAP operating expenses are expected to grow in the low single-digit range.
Is PINS Stock a Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on PINS stock based on eight Buys, five Holds, and zero Sells assigned in the past three months, as indicated by the graphic above. Furthermore, the average price target of $31.67 per share implies 9.28% upside potential.
