(VIANEWS) – Pinterest Inc. shares fell by more than 14% after hours trading. The online social sharing site said that its average monthly users decreased in the U.S. during the quarter. This trend was accelerated in this month.
According to The Wall Street Journal’s report, the average monthly user in America was 91 million in quarter one. This is a decrease of 5% over a year ago. The global average monthly user count increased by 9% during the quarter.
Pinterest’s user growth soared during the pandemic as more people accessed the site to purchase masks or other items. According to the company, some users may have been impacted by the pandemic.
Shares of Pinterest (PINS) slid by a staggering 17.49% to $59.44 at 09:52 EST on Friday, after five consecutive sessions in a row of gains. NYSE Composite is jumping 0.75% to $16,697.14, after two successive sessions in a row of gains. This seems, up to now, a somewhat positive trend trading session today.
Pinterest’s last close was $76.84, 14.53% under its 52-week high of $89.90.
Today’s last reported volume for Pinterest is 18889997 which is 82.36% above its average volume of 10358653.
The company’s growth estimates for the ongoing quarter and the next is 285.7% and 38.5%, respectively.
Year-on-year quarterly revenue growth grew by 78.4%, now sitting on 1.91B for the twelve trailing months.
Pinterest’s Stock Yearly Top and Bottom Value
Pinterest’s stock is valued at $59.44 at 09:52 EST, way under its 52-week high of $89.90 and way above its 52-week low of $23.88.
Pinterest’s Moving Average
Pinterest’s value is way under its 50-day moving average of $73.26 and way below its 200-day moving average of $72.41.
News about Pinterest (PINS) today
Pinterest stock gets hammered despite stellar Q2 earnings beat: here’s what you need to know. According to today’s article on Benzinga, “Shares of Pinterest Inc. (NYSE: PINS) fell 6% in Thursday’s regular trading session and also tanked more than 19% in the extended session.”, “Price Action: Pinterest closed more than 6% lower in Thursday’s regular trading session at $72.04 and further fell more than 19% in the after-hours session to $58.30.”
Previous days news about Pinterest (PINS)
Pinterest shares fall as U.S. monthly average users decline. According to The Wall Street Journal on Thursday, 29 July, “Shares of Pinterest Inc. PINS -6.01% fell more than 14% in after-hours trading, as the online sharing platform said its monthly average users in the U.S. contracted during the quarter, a trend that accelerated this month.”
Pinterest falls out of sight, out of mind. According to The Wall Street Journal on Thursday, 29 July, “While not a perfect comparison, Snap’s results show it made more than $2 more per North American user than the $5.08 Pinterest made on its domestic “pinners” in the quarter.”, “However, in an increasingly competitive advertising environment, Pinterest will need to prove it can keep growing, especially as the company’s average revenue per user remains relatively low.”
More news about Pinterest (PINS).