Key Stats for Pinterest Stock
- Current Price: $19.91 (October 29, 2026 close, before the report)
- Q4 2026 Revenue Guide: $1.425 billion to $1.475 billion
- Q4 Revenue Consensus: ~$1.52 billion
- Q4 2026 Adjusted EBITDA Guide: $538 million to $588 million
- Street Target: ~$29 (mean as of the October 29 close)
What Happened?
Pinterest (PINS) ended the third quarter with a record 661 million monthly active users, up 10%. It then guided fourth-quarter revenue to $1.425 billion to $1.475 billion, below TIKR’s consensus of around $1.52 billion even at the top end. Shares closed down 4.83% at $19.91 on October 29, before the report, and fell roughly 8% to 10% after hours. CEO Bill Ready said Q4 is tracking broadly in line with Q3’s 12% growth.
Europe Added Users While Revenue Per User Fell 7%
Third-quarter revenue rose 12% to $1.174 billion, short of Pinterest’s own $1.19 billion to $1.21 billion range and 2.63% below TIKR’s consensus. Adjusted EPS of $0.46 missed the $0.49 estimate, and GAAP EPS came in at $0.04 against $0.09 expected.
Management traced the miss mainly to Europe. Users there grew 7% to 161 million, but revenue stayed flat at $193 million, so average revenue per user (ARPU) fell 7% to $1.21. In the U.S. and Canada, revenue grew 14% and ARPU rose 10% to $8.38, slower than a second quarter that management said carried one-time benefits.
Ready tied Europe’s stall to the European Union’s removal of its de minimis exemption, a customs break on low-value imports, which led cross-border sellers to cut ad spending. He called it roughly an 11-point drag on Europe and about 3 of the 6 points global growth lost from Q2’s 18%. Prime Day and World Cup timing took 2 points, and currency took 1.
Ready Called the Q4 Range a “Prudent Baseline”
“Q4 is tracking broadly in line with the growth that we saw in Q3,” Ready said, citing quarter-to-date results. Against Q4 2025 revenue of $1.319 billion, 12% growth works out to about $1.48 billion, near the top of the range, though Pinterest expects a modest currency headwind. Ready said the wider range reflects “a broader range of potential outcomes” and “a prudent baseline that we feel highly confident we can meet or exceed.”
He said cross-border pressure has stabilized. He also said growth in the core European enterprise business, which excludes those sellers, halved in Q3 and has reaccelerated above its Q2 level so far in Q4.
The risks are specific. Even the top end trails the consensus an October 26 TIKR preview set as the bar. The EU rule took effect July 1, yet Ready said the shortfall grew in the quarter’s later weeks, and he doesn’t expect cross-border spend back for the holidays. Ad pricing also fell 4% while impressions grew 17%.
TIKR tracks 39 analysts on Pinterest. How many say “Buy”?
See the full breakdown of Buy, Hold, and Sell ratings on Pinterest, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See Pinterest’s Analyst Ratings
The Profit Guide Fell Further Short, and Europe Is Not in the New Ad Deals
The Q4 adjusted EBITDA guide of $538 million to $588 million puts its midpoint about 8% below TIKR’s consensus of around $612 million, a wider gap than revenue. Management still expects a full-year adjusted EBITDA margin of approximately 30%. Q4 non-GAAP cost of revenue rises at a low-teens rate from Q3, partly on GPU capacity and after a one-time contractual benefit lowered Q3 costs.
On October 26, Pinterest made Programmatic Deals available, letting buyers purchase its display and video inventory through Amazon Ads DVA+, Google Display & Video 360 and Yahoo DSP, with Magnite as the main supply partner. The launch lists North America, South America and Asia Pacific, not Europe, and Ready said such demand takes time to ramp.
Valuation Snapshot
- Pinterest NTM EV/EBITDA: ~7x
- Reddit NTM EV/EBITDA: ~11x
- Snap NTM EV/EBITDA: ~8x
- Street Target (Mean): ~$29
- Analyst Ratings: 18 Buy, 2 Outperform, 19 Hold
Those figures rest on estimates and targets set before the report, so they are likely to move as analysts update.
Q4 Revenue Above $1.475 Billion Would Back Ready’s Read
Fourth-quarter revenue at or above $1.475 billion, about 12% growth, would confirm Ready’s tracking comment. A result near $1.425 billion would mean cross-border pressure deepened. The other tell is whether Europe’s revenue grows again. Pinterest has not set a date; its Q4 2025 results came on February 12, 2026.
So what is Pinterest stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
