Pinterest closed at $21.23 on October 26, down 4.88% from $22.32 on volume of 14.54 million shares -- 1.23x the 20-day average of 11.85 million and 1.08x the 60-day average of 13.42 million -- while the S&P 500 rose 0.70% to 7,676.77 and the Nasdaq gained 0.82%, an unambiguous relative-weakness signal two sessions before the October 29 Q3 report. The session's $1.245 range equaled 5.87% of the close and the stock closed below the 200-day at $21.8510 for the first time since October 14, ending an eight-session stretch above it. Price now sits $0.03 above the October 13 swing low of $21.201, which anchors the entire post-September recovery from $17.84, and essentially on top of the 50-day at $21.1633 and the 20-day at $21.1700, so the whole October advance is one more down day away from being fully retraced. Momentum deteriorated materially: the histogram has contracted for seven consecutive sessions to +0.08886 from the October 13 peak of +0.48106, an 81.5% collapse that puts a signal-line cross within one to two sessions, has fallen from 68.08 to 49.67, and has declined five consecutive sessions to -148.79 million from -100.78 million on October 20, a 48.0 million share distribution. The macro backdrop is Neutral rather than hostile: fell 5.45% to 18.39 and the 10-year Treasury yield was essentially flat at 4.986%, yet PINS fell 4.88% against a rising tape, isolating the selling as company-specific rather than macro-driven. The fundamental ledger remains the constructive side: a $12.02 billion market cap and $12.56 billion enterprise value trade at 8.87x forward earnings, a 0.288 , 2.64x sales, 4.15x book, 62.44x trailing earnings and 39.68x , backed by $1.196 billion of free cash flow for a 9.95% FCF yield and a 79.47% gross margin. The problem is that those forward earnings are not corroborated by reported profitability: operating margin is -3.46%, margin is 6.95%, is 6.46% and is 3.51%, and the 5.46% net margin cannot be reconciled with a negative operating margin from the supplied data. Estimate momentum is mildly negative at the longer end, with FY27 of $2.39227 down 0.40% over 30 days and 0.42% over 60 days despite being up 7.13% over 90 days, while FY26 of $2.02206 is essentially flat and no analyst has upgraded, downgraded or initiated coverage in 90 days. The consensus $29.077 mean target implies 36.9% upside and the $22.00 low target now sits 3.6% ABOVE spot with zero Sell ratings, but the entire target set dates to August 5-6 and predates the whole September-October move, so it is stale rather than freshly underwritten. The dominant catalyst is the October 29 Q3 report two days away, with consensus at roughly $1.20 billion of revenue (+14.4%) and about $0.485 of , against a stock with 42.43% 20-day realized volatility, a 4.12% and 12.14% of float short. The key risk to monitor is that a soft international ARPU or operating-margin guide gaps the stock through $21.20 and $20.53 toward the $19.36-$19.46 late-September base; conversely a beat showing genuine operating leverage into a 12.14% short interest could snap the stock back to $23.60 and then $25.
Decision
Live price
$20.73
Recommendation score
52%
52%
Confidence
60%
60%
Outlook by horizon
1M
HOLD
Near
6M
BUY
Mid
1Y
HOLD
Long
Primary catalyst
The October 29 Q3 earnings report dominates the near term: consensus is approximately $1.20 billion of revenue, up 14.4% year over year, and roughly $0.485 of , and the current-quarter estimate is 0.19% below its 30-day-ago level with no analyst action in 90 days. With price back on the $21.201 October 13 low, 12.14% of float short, a 2.91 short ratio and 42.43% realized volatility, a soft international ARPU or operating-margin guide could gap the stock straight through $20.77 and $20.53 toward the $19.36-$19.46 September base, while a beat showing genuine operating leverage could snap it back through the $21.8510 200-day toward $23.60 and then $25.
Reduce to roughly 15-25% of a normal risk budget. Earnings are two days away on October 29, 20-day realized volatility is 42.43%, (14) is 4.12% of price, 12.14% of float is short with a 2.91 short ratio, and the stock just fell 4.88% on 1.23x average volume while the S&P 500 rose 0.70%. Do not chase a reclaim of $21.85 (the 200-day ) unless volume exceeds 1.2x the 20-day average of 11.85 million; prefer a post-earnings reset into $19.90-$21.20, and assume any earnings gap can execute well below the planned stop.
Thesis Snapshot
Why It Works
Pinterest pairs 18.2% Q2 revenue growth and a 79.47% gross margin with $1.196 billion of free cash flow, a 9.95% FCF yield, $78.3 million of net cash and a 3.81x current ratio, while trading at 8.87x forward earnings, 2.64x sales and 4.15x book -- less than half the 19.86x forward the supplied Zacks coverage cites for its industry, with a 0.288 versus an industry 1.15 and a Value grade of B. The last two quarters beat consensus by 20.37% and 24.71%, current-quarter is only 0.19% below its 30-day-ago level with one upward and zero downward revisions in the past week, FY27 has absorbed three upward revisions in 30 days with zero downward at any horizon, and the low analyst target of $22.00 now sits 3.6% ABOVE spot with zero Sell ratings and a 2 Strong Buy / 18 Buy / 19 Hold mix supporting a $29.077 mean target that implies 36.9% upside. Valuation is cheaper today than it was at $22.32 on October 23, the stock is only 2.84% below its 200-day after one 4.88% session, and it rebounded $0.465 off the $20.765 intraday low to close at $21.23, which is not the footprint of one-way liquidation. On prior targets, the $20.50-$21.85 entry zone was reached this run -- the October 26 low of $20.765 fell inside it and the close sits inside it -- so the setup has moved to a better valuation entry even as the tape weakened, and the $24-$26 exit zone remains 13-22% above spot. With 12.14% of float short and a 2.91 short ratio, any beat that demonstrates operating leverage on October 29 could produce a violent squeeze toward $23.60 and then the exit zone.
What Breaks It
The strongest argument against owning PINS here is that the cheap forward multiple and the reported free cash flow are not corroborated by reported profitability, and the tape is now confirming rather than merely hinting at that skepticism. Operating margin is -3.46%, margin is 6.95% against a 39.68x , is 6.46% and is 3.51%, while the 5.46% net margin cannot be reconciled with a negative operating margin anywhere in the bundle. The 8.87x forward rests on FY27 of $2.39227 that is 0.16% below its 7-day-ago level, 0.40% below its 30-day-ago level and 0.42% below its 60-day-ago level -- the out-year is being trimmed while the near quarter merely holds, which is exactly the pattern that makes a stock look permanently cheap. The technical deterioration is no longer marginal: on October 26 the stock fell 4.88% to $21.23 on 14.54 million shares, 1.23x the 20-day and 1.08x the 60-day average, while the S&P 500 rose 0.70% and the Nasdaq gained 0.82%, closing below the 200-day at $21.8510 and back on top of the $21.201 October 13 low; the histogram has contracted seven straight sessions to +0.08886 from +0.48106, an 81.5% collapse with a signal-line cross imminent; has fallen from 68.08 to 49.67; and has dropped five consecutive sessions to -148.79 million from -100.78 million on October 20. Crucially, every October advance leg traded below the 60-day average volume while this decline traded above it, which flips the read from light profit-taking to institutional distribution into a binary event. Fundamentally, revenue growth decelerates from 18.2% to 14.4% in Q3 and 13.2% in FY27, only 2 of the 6 supplied quarters beat consensus while the other four missed by an average of about 6.5%, and Reddit (international revenue +84% to $166.8 million, international ARPU +31% to $2.26) and Snap (Europe revenue +33% to $353.8 million) are monetizing international audiences several times faster than Pinterest's 12% Europe revenue and 4% Europe ARPU growth. The short thesis is that ad-revenue growth decelerates while cost discipline prevents operating leverage from materializing on a -3.46% operating margin, forcing further out-year estimate cuts and multiple compression from a still-39.68x base; 12.14% of float is short with a 2.91 short ratio, though no historical short-interest series is supplied to prove bearish conviction is still building.
A daily close below $20.53 -- the October 8 close and the last meaningful higher low before the October breakout attempt -- would confirm the October 15 move above the 200-day was a failed breakout; a close below $19.20, beneath the $20.03 October 6 close and roughly 1.5x below the entry-zone midpoint, invalidates the recovery entirely and requires exiting the position.
October 29 earnings, two days away: consensus is about $1.20 billion of revenue (+14.4% versus Q2's 18.2%) and roughly $0.485 of , and with 42.43% 20-day realized volatility, a 4.12% , 12.14% of float short and a 2.91 short ratio, a guidance shortfall on international ARPU or operating leverage could produce a double-digit gap through any technical stop.
Profitability and estimate-conversion risk: a -3.46% operating margin and 6.95% margin sit beneath a 39.68x built on FY26 of $2.02206 and FY27 of $2.39227, with FY27 0.40% below its 30-day level and 0.42% below its 60-day level, while only 2 of the last 6 quarters beat consensus and the other four missed by an average of roughly 6.5%.
Competitive and macro pressure: Reddit's 84% international revenue growth with 31% international ARPU growth to $2.26 plus Snap's 33% European revenue growth threaten Pinterest's 12% Europe revenue and 4% Europe ARPU trajectory, while a 4.986% 10-year Treasury yield caps multiple expansion for a 62.44x trailing-earnings name and a 40.06% drawdown from the $35.42 52-week high limits the pool of incremental buyers.
Watch Next
Next earnings: Oct 29, 2026
The October 29 Q3 earnings report dominates the near term: consensus is approximately $1.20 billion of revenue, up 14.4% year over year, and roughly $0.485 of , and the current-quarter estimate is 0.19% below its 30-day-ago level with no analyst action in 90 days. With price back on the $21.201 October 13 low, 12.14% of float short, a 2.91 short ratio and 42.43% realized volatility, a soft international ARPU or operating-margin guide could gap the stock straight through $20.77 and $20.53 toward the $19.36-$19.46 September base, while a beat showing genuine operating leverage could snap it back through the $21.8510 200-day toward $23.60 and then $25.
Signal Dashboard
Decision inputs
6 signals
Fundamental
37.0%
Upside to analyst mean target
At $21.23 the stock carries a $12.02 billion market capitalization and $12.56 billion enterprise value at 62.44x trailing earnings, 8.87x forward earnings, 2.64x sales, 4.15x book and 39.68x . The forward multiple is the cheapest reading in the supplied peer context: Zacks put Pinterest's forward at 8.97x against a 19.86x Internet-Software industry average, a forward price-to-sales of 1.95x below the industry, a of 0.34 versus an industry 1.15 and a Value grade of B, and the 9.95% FCF yield on $1.196 billion of free cash flow against a $12.02 billion market cap is objectively high for a business growing revenue 18.2%. The reconciliation problem is that a 62.44x trailing implies roughly $0.34 of TTM while consensus FY26 is $2.02206, and a 5.46% net margin coexists with a -3.46% operating margin and a 6.95% margin with no bridge supplied anywhere in the bundle, so trailing and GAAP optics should be discounted in favor of the forecast series. The honest verdict is statistically cheap on forecast non-GAAP earnings and free cash flow, expensive on 39.68x against a 6.95% margin, and the gap between those two readings is exactly the operating-leverage bet the October 29 print has to validate.
Technical
Bearish
Trend quality
At $21.23 price sits 2.84% BELOW the 200-day at $21.8510, 0.32% above the 50-day at $21.1633 and 0.28% above the 20-day at $21.1700, having closed under the 200-day on October 26 for the first time since October 14 and ending an eight-session hold above it. The 50-day remains 3.15% below the 200-day , still death-cross alignment (the gap narrowed only marginally from 3.19% on October 23), and a golden cross requires roughly 3.1% further convergence, so it is weeks to months away rather than imminent. The critical breach is structural rather than cosmetic: the October 13 swing low of $21.201 that anchored the entire recovery from the $17.84 September 23 low was undercut intraday to $20.765 and the close finished just $0.029 above it, while the October 20-22 higher-low sequence at $22.32/$22.55/$22.69 had already broken on October 23. The October 15 breakout above the 200-day has failed, the stock is back inside the $20.53-$21.85 band it broke out of on October 15, and the structure reads as a rejected rebound within a repaired but unfinished downtrend rather than a confirmed new uptrend.
Earnings
2d
Improving
Q2 2026 of $0.43 beat the $0.35723 estimate by 20.37% and revenue of $1.18 billion beat the $1.15 billion consensus by 2.39%, the second consecutive beat above 20% following Q1 2026's $0.27 versus $0.2165 (+24.71%) and a sharp reversal from four straight misses of -0.69% (Q4 2025), -8.82% (Q3 2025), -6.17% (Q2 2025) and -10.28% (Q1 2025); the immediate post-report share-price reaction is not in the bundle and only six quarters were supplied, so neither the full eight-quarter record nor clean guidance credibility can be established.
News
Mixed-Bearish
Headline tone
The October 29 Q3 earnings report dominates the near term: consensus is approximately $1.20 billion of revenue, up 14.4% year over year, and roughly $0.485 of , and the current-quarter estimate is 0.19% below its 30-day-ago level with no analyst action in 90 days. With price back on the $21.201 October 13 low, 12.14% of float short, a 2.91 short ratio and 42.43% realized volatility, a soft international ARPU or operating-margin guide could gap the stock straight through $20.77 and $20.53 toward the $19.36-$19.46 September base, while a beat showing genuine operating leverage could snap it back through the $21.8510 200-day toward $23.60 and then $25.
Macro
Neutral
4.99% 10Y / 18.4 VIX
at 18.39 (down 5.45%) and a 10-year Treasury yield of 4.986% describe a Neutral regime that is not the source of Pinterest's problem -- the stock fell 4.88% while the S&P 500 rose 0.70% -- so the pressure is idiosyncratic event risk into the October 29 print, though a 4.99% risk-free rate still caps the multiple a 62.44x trailing-earnings, negative-operating-margin name can earn.
Stability
High-Beta Growth
Satellite Upside
Pinterest is an asset-light discovery and advertising platform with a 79.47% gross margin, 18.2% revenue growth and $1.196 billion of free cash flow equal to a 9.95% FCF yield, yet a -3.46% operating margin, 6.95% margin, 6.46% and 3.51% mean the earnings power implied by an 8.87x forward is not yet demonstrated in reported profitability. Net cash of only $78.3 million, or 0.65% of the $12.02 billion market capitalization, provides essentially no balance-sheet cushion, so any monetization or execution misfire must be absorbed by the cash flow engine rather than the balance sheet. of 0.897 materially understates the risk because 42.43% 20-day realized volatility, a 4.12% , 12.14% short interest as a percentage of float and an October 29 earnings date that is two sessions away mean single-name execution and event risk, not index sensitivity, drive the stock, which already sits 40.06% below its $35.42 52-week high. It belongs in a satellite growth sleeve at reduced size rather than as a core holding, and thesis durability is medium because returns now depend on international ARPU conversion and operating leverage rather than on audience growth alone.
Analyst Spread
Mean Target
$29.08
High / Low
$22 / $42
Median Target
$29.50
Consensus range
$22 - $42
— analysts
Mean
$22$29$42
Consensus
The $29.077 mean and $29.50 median targets imply 36.9% and 39.0% upside from $21.23, and the $42.36 high target implies 99.5%, a $20.36 high-low spread equal to 95.9% of spot that signals genuine disagreement about whether the forecast earnings are achievable. The most informative change this run is that the $22.00 low target now sits 3.6% ABOVE spot rather than below it, meaning every covering analyst currently has a target above the price, and there are zero Sell or Strong Sell ratings against 2 Strong Buy / 18 Buy / 19 Hold -- a mix that improved by one net upgrade over the past month (2/17/19 at the -1m mark). The analyst count field is null. Because the newest target change dates to August 5-6, the entire target set predates both the move from $18.73 on September 24 to $23.60 intraday on October 21 and the subsequent slide back to $21.23, so the 36.9% upside is stale rather than freshly underwritten.
Positioning Pulse
Insider Signal
Neutral
Net Bias
Balanced
Insider Own.
1.3%
Institutional Own.
108.3%
Interpretation
Because transaction direction, value and timing cannot be determined from the supplied records, insider activity provides no dependable evidence about management's confidence either way and should not influence position sizing; routine CEO and officer share filings without values are consistent with vesting or scheduled plan activity rather than a directional signal.
Notable activity
The extract contains two records and neither can be classified directionally: Chief Executive Officer William J. Ready for 354,192 shares and officer Wanjiku Juanita Walcott for 188,165 shares, both marked direct ownership with blank transaction-type fields and no USD value supplied. Date fields are ordinal markers (149 and 148) rather than parseable calendar dates, so purchases cannot be distinguished from sales and 10b5-1 or tax-withholding activity cannot be identified.
Market Context
Industry
Internet Content & Information
Bearish
Sentiment
-36
Tracked names
4
Grouping
industry
Internet Content & Information industry is currently Bearish with an average recommendation score near 45. capital and conviction are fading across the group, and leadership is concentrated in GOOGL, META, NBIS.
Rotation Drivers
Average recommendation deltas are rolling over across Internet Content & Information industry, which points to capital rotating away from the group.
0 names are rated bullish versus 0 bearish names, keeping the group tone bearish.
Leadership is concentrated in GOOGL, META, NBIS, so those names are the cleanest read on group-level capital rotation.
Pinterest's AI-driven recommendation engine and improved advertising relevance place it inside the rotation toward measurable performance advertising, and Q2 revenue growth of 18.2% alongside current-quarter of $0.48536 revised 9.57% higher over 90 days is consistent with that narrative. The market has not paid for the story: 8.87x forward earnings and 2.64x sales against a 19.86x industry forward and a 0.288 versus an industry 1.15. The supplied news describes the mechanism -- personalized recommendations, new ad products and a disciplined international sales organization -- but contains no advertiser-spend, return-on-ad-spend or fund-flow quantification, so the theme is sector-constructive rather than a verified company-specific driver. It is fading at the margin because the tape is now rejecting the AI-monetization narrative into the print despite the valuation support.
The October 29 Q3 report is the next hard test of whether better ad relevance converts into revenue growth and operating leverage rather than just narrative.
Current-quarter of $0.48536 is 9.57% above its 90-day-ago level and next-quarter of $0.84072 is 6.87% higher over the same window, alongside 18.2% Q2 revenue growth and 38% Rest-of-World revenue growth.
September coverage cited a 1.95x forward price-to-sales and an 8.97x forward versus an industry 19.86x, but the bundle contains no advertiser-spend or fund-flow confirmation to validate an active rotation into the theme.
International Social-Platform Monetization
Score: -40
Mixed-Bearish
Pinterest has a real international runway -- Rest-of-World revenue up 38% to $87 million and Rest-of-World ARPU up 21% -- but Europe ARPU grew only 4% and Europe revenue 12%, against Reddit's international revenue up 84% to $166.8 million with international ARPU up 31% to $2.26 and Snap's Europe revenue up 33% to $353.8 million. The gap has widened rather than narrowed, making the theme a relative competitive headwind for PINS even though the absolute $0.23 Rest-of-World ARPU versus $8.30 in US/Canada runway is enormous. Evidence is operating-momentum based rather than fund-flow based, and it is strengthening as a negative narrative because the peer advantage has persisted across multiple quarters while PINS has fallen 44% over the past year against a 4.1% industry decline.
The October 29 print will show whether Pinterest can accelerate European monetization while Reddit and Snap compound international revenue several times faster.
Reddit's Q2 international revenue grew 84% to $166.8 million with international ARPU up 31% to $2.26, versus Pinterest's Europe revenue growth of 12% and Europe ARPU growth of just 4%.
Pinterest's $0.23 Rest-of-World ARPU versus $8.30 in US/Canada shows runway, but the September Zacks coverage explicitly frames PINS as the laggard against Reddit and Snap in the same international ad market.
Key Stats
23 metrics total
Market Cap
$12.02B
P/E (TTM)
62.4
Forward P/E
8.9
Revenue Growth
18.2%
ROE
6.5%
Beta
0.90
Full Metric Set
17 additional stats
Valuation Stack
Multiples and cash-flow framing.
Price / Sales
2.6
Price / Book
4.1
EV / EBITDA
39.7
Quality & Balance Sheet
Margins, leverage, and liquidity.
Gross Margin
79.5%
Operating Margin
-3.5%
Debt / Equity
41.3
Current Ratio
3.81x
Quick Ratio
3.62x
Positioning & Range
Short interest and 52-week location.
Short % Float
12.1%
Short Ratio
2.91x
52W High
$35.42
52W Low
$13.84
From 52W High
-40.1%
From 52W Low
53.4%
Company Classification
Sector and industry context.
Sector
Communication Services
Industry
Internet Content & Information
Additional Signals
Free Cash Flow
$1196440960.00
Detailed Analysis
Valuation
At $21.23 the stock carries a $12.02 billion market capitalization and $12.56 billion enterprise value at 62.44x trailing earnings, 8.87x forward earnings, 2.64x sales, 4.15x book and 39.68x . The forward multiple is the cheapest reading in the supplied peer context: Zacks put Pinterest's forward at 8.97x against a 19.86x Internet-Software industry average, a forward price-to-sales of 1.95x below the industry, a of 0.34 versus an industry 1.15 and a Value grade of B, and the 9.95% FCF yield on $1.196 billion of free cash flow against a $12.02 billion market cap is objectively high for a business growing revenue 18.2%. The reconciliation problem is that a 62.44x trailing implies roughly $0.34 of TTM while consensus FY26 is $2.02206, and a 5.46% net margin coexists with a -3.46% operating margin and a 6.95% margin with no bridge supplied anywhere in the bundle, so trailing and GAAP optics should be discounted in favor of the forecast series. The honest verdict is statistically cheap on forecast non-GAAP earnings and free cash flow, expensive on 39.68x against a 6.95% margin, and the gap between those two readings is exactly the operating-leverage bet the October 29 print has to validate.
Balance Sheet
Debt-to-equity is 41.35% with $1.2749 billion of cash against $1.1966 billion of debt, leaving $78.3 million of net cash equal to just 0.65% of the $12.02 billion market cap, cash-to-debt coverage of 1.07x and operating-cash-flow-to-debt coverage of 1.11x -- there is no meaningful net-cash cushion. Cash generation is the genuine strength: $1.334 billion of operating cash flow converts to $1.196 billion of free cash flow, roughly 90% conversion and a 9.95% FCF yield. Liquidity is excellent at a 3.81x current ratio and 3.62x quick ratio, so there is no near-term funding risk. Returns remain the weak link with of 6.46% and of 3.51%, well below what a 2.64x price-to-sales platform should earn, and because the bundle contains no cash-flow statement bridge the coexistence of $1.196 billion of free cash flow with a -3.46% operating margin cannot be fully verified.
Growth
Q2 2026 revenue rose 18.2% year over year to $1.18 billion, with Europe up 12% to $213 million, Rest of World up 38% to $87 million and US/Canada the balance; Europe MAUs reached 157 million (+8%) and Rest-of-World MAUs 377 million (+15%). Monetization is extraordinarily uneven: US/Canada ARPU $8.30 (+14%), Europe $1.35 (+4%) and Rest of World $0.23 (+21%), so the international runway is enormous but Europe is nearly stagnant on a per-user basis. Consensus decelerates from 18.2% in Q2 to 14.4% in Q3 ($1.20 billion), 15.9% in FY26 ($4.89 billion) and 13.2% in FY27 ($5.54 billion). Earnings grow faster than revenue from a low base -- FY26 of $2.02206 up about 28.8% and FY27 of $2.39227 up about 18.3% -- but with a negative operating margin that trajectory is entirely a forecast of operating leverage the reported numbers do not yet show.
Business Quality
The 79.47% gross margin reflects genuinely attractive two-sided discovery platform economics, but that advantage does not reach the operating line: operating margin is -3.46%, margin only 6.95%, 3.51% and 6.46%, all short of what a premium platform multiple should demand. Liquidity is healthy at 3.81x current and 3.62x quick. Insider ownership of 1.30% is low, and the reported 108.34% institutional ownership is not a plausible literal figure and should be treated as an aggregation artifact rather than evidence of concentrated institutional conviction. of 0.897 understates the risk that matters: 42.43% 20-day realized volatility, a 4.12% and 12.14% short interest as a percentage of float with a 2.91 short ratio show that idiosyncratic and event risk, not index sensitivity, drive the stock. Business quality supports a differentiated discovery-commerce franchise, not yet a premium multiple.
Capital Allocation
With $1.2749 billion of cash, $1.1966 billion of debt, no dividend and a 0.0% payout ratio, all shareholder return depends on reinvestment or buybacks funded from $1.196 billion of annual free cash flow. The bundle supplies no historical share count, repurchase schedule or stock-based-compensation figure, so it is impossible to determine whether buybacks are offsetting SBC dilution or whether capital is being deployed above cost of capital; the 492.2 million shares outstanding against a 484.6 million float are single-point values with no trend. The company visibly self-funds its AI recommendation and advertising-product investment, which limits financing risk, but capital-allocation quality cannot be scored from these fields and should be verified from the 10-Q/10-K before sizing up.
Estimate Revisions
Near-term momentum is flat-to-slightly-positive while the out-year erodes. Current-quarter of $0.48536 is unchanged over seven days, 0.19% below its 30-day-ago level but 9.57% above its 90-day-ago level; next-quarter of $0.84072 is 0.07% lower over seven days, 0.23% lower over 30 days and 6.87% higher over 90 days. FY26 of $2.02206 is 0.12% higher over seven days, 0.03% higher over 30 days and 6.32% higher over 90 days, whereas FY27 of $2.39227 is 0.16% lower over seven days, 0.40% lower over 30 days and 0.42% lower over 60 days despite being 7.13% above its 90-day-ago level. Revision breadth is still positive but thin: one upward current-quarter estimate in the last week with zero downward, and three upward FY27 revisions over 30 days with zero downward revisions at any horizon. No analyst upgrade, downgrade or initiation has occurred in 90 days, and the last target actions were raises on August 5-6 (UBS to $33, Wells Fargo to $31, Citigroup and DA Davidson to $27, RBC to $25), so sell-side posture is stale rather than deteriorating. The supplied news contains contradictory revision commentary -- one Zacks piece cites a -6.33% 30-day cut to the FY26 consensus while another cites +7.4% for the current quarter -- so the DB trend series should be treated as authoritative.