Pinterest (PINS) will announce quarterly results after the close 7/30 with the Street looking for $0.28 EPS and $850M in Revenues (+20%) and Q3 seen at $0.35/$912M while FY25 at $1.79/$4.29B implying 17.2% revenue growth and 22.75% EPS growth. PINS shares soared more than 20% last quarter on results though closed lower four of the prior five reports and a six-quarter average max move of 14.75%, a volatile mover. Pinterest is where 450 million people around the world come each month to discover and visualize ideas for their daily activities like cooking dinner or deciding what to wear; for major commitments like remodeling a house or training for a marathon; for ongoing passions like gardening or fashion; and for milestone events like planning a wedding or a dream vacation. PINS full funnel advertising solution maps to the consumer buying journey on Pinterest, from building awareness and comprehension at the top of the funnel, to supporting consideration and engagement with brands in the middle of the funnel, to driving purchases at the bottom of the funnel. PINS is deepening engagement and growing monetization seeing record users and shopping with Gen Z a key growth driver. PINS platform enhancements are working for advertisers and PINS expects to grow revenue in the mid- to high teens and improve EBITDA margin to the low 30% range over the coming 3 to 5 years.

PINS has a market cap of $25.65B and trades 20.8X Earnings, 23X EBITDA, 33.5X FCF and 6.1X EV/Sales. PINS is seeing faster progress at improving their user offering and ad tools. PINS new shop the look video pins are still early in helping expand shoppable content with users now able to click on a video pin and pull up a carousel ad format with shoppable pins. PINS spoke to new dynamic creative optimization solution that will allow advertisers to use GenAI to optimize creative for ads. Another new tool to come is ROAS bidding, which automatically optimizes campaigns in real time to prioritize users/products that will deliver the highest ROI.

Analysts have an average target of $46.50 and short interest is at 4.35% of the float. Grizzly Research was out recently with a negative report saying user engagement is falling due to ad spam. Loop Capital is at Buy with a $49 target seeing a monetization recovery. On the chart, PINS has pulled back the last four weeks off a 38.2% Fibonacci resistance level at $44.15. PINS shares now near AVWAP off October 2023 lows near $36 and 200MA at $36.50. PINS also has a nice weekly rising channel pattern with major support near $35.

PINS options are pricing in an 11.4% earnings move and 30-day IV Skew at 0 compares to the 0.9 52-week average. PINS put/call open interest ratio is at the 95^th percentile and average IV30 crush is -38%. PINS mixed flows recently does have 6000 Jan. 2026 $35 short puts in open interest, 5500 August $41 short puts and 3000 August $38 short puts. PINS has also seen some June 2025 $40 and $42 calls bought as notable open interest.

Trade to Consider: Sell the PINS September $36/$33 Put Spreads to Open at $1.05 Credit