Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

PINTEREST, INC.

(PINS)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

PINS Deadline Alert: Kessler Topaz Meltzer & Check, LLP Reminds Investors of June 28, 2021 Deadline in Securities Fraud Class Action Lawsuit

06/24/2021 | 03:57pm EDT

The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed against Pinterest, Inc. (NYSE: PINS) (“Pinterest”) on behalf of those who purchased or acquired Pinterest securities between February 4, 2021 and April 27, 2021, inclusive (the “Class Period”).

Investor Deadline Reminder: Investors who purchased or acquired Pinterest securities during the Class Period may, no later than June 28, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at info@ktmc.com; or click https://www.ktmc.com/pinterest-inc-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=pinterest

Pinterest operates a platform that provides inspiration for its users’ lives. Monthly active users (“MAUs”) are the number of Pinterest users who interact with Pinterest at least once during the 30-day period ending on the date of measurement.

The Class Period commences on February 4, 2021, when Pinterest announced its fourth quarter and full year 2020 financial results in a press release. Throughout the Class Period, the defendants touted its user engagement and growth.

However, the truth was revealed on April 27, 2021 when, after the market closed, Pinterest announced its first quarter 2021 financial results and reported that global monthly active users grew only 30% year-over-year to 478 million, a decline from the prior quarter’s 37% year-over-year growth. Pinterest further announced that, “[i]n Q2, we expect global MAUs to grow in the mid-teens and US MAUs to be around flat on a year-over-year percentage basis.”

Following this news, Pinterest’s share price fell $11.25, or 14.5%, to close at $66.33 per share on April 28, 2021.

The complaint alleges that throughout the Class Period, the defendants failed to disclose to investors that: (1) user growth was already slowing; (2) as a result, Pinterest expected user engagement to slow in the second quarter of 2021; and (3) as a result of the foregoing, the defendants’ positive statements about Pinterest’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Pinterest investors may, no later than June 28, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.


© Business Wire 2021
All news about PINTEREST, INC.
09/16PRESS RELEASE : Gigaset AG publishes report on the -2-
DJ
09/13PINTEREST : Goldman Sachs Initiates Coverage on Pinterest With Neutral Rating, $..
MT
09/13Goldman Sachs Initiates 17 Large-Cap Tech Companies With Selectively Positive..
MT
09/08PINTEREST : Sergio Hudson and Pinterest partner to create an inspirational style..
PU
09/07NORTH AMERICAN MORNING BRIEFING : Stocks Likely to -2-
DJ
09/03INSIDER SELL : Pinterest
MT
09/03Tse Li Yang to Leave Pinterest, Inc. as Chief Accounting Officer, Effective O..
CI
09/03PINTEREST, INC. : Change in Directors or Principal Officers (form 8-K)
AQ
08/31NORTH AMERICAN MORNING BRIEFING : Futures Point to -3-
DJ
08/30PINTEREST : Argus Research Downgrades Pinterest to Hold From Buy
MT
More news
Analyst Recommendations on PINTEREST, INC.
More recommendations
Financials (USD)
Sales 2021 2 619 M - -
Net income 2021 309 M - -
Net cash 2021 2 066 M - -
P/E ratio 2021 118x
Yield 2021 -
Capitalization 35 306 M 35 306 M -
EV / Sales 2021 12,7x
EV / Sales 2022 9,39x
Nbr of Employees 2 942
Free-Float 85,6%
Chart PINTEREST, INC.
Duration : Period :
Pinterest, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PINTEREST, INC.
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Last Close Price 54,77 $
Average target price 76,44 $
Spread / Average Target 39,6%
EPS Revisions
Managers and Directors
Benjamin Silbermann Chairman, President & Chief Executive Officer
Todd R. Morgenfeld Chief Financial Officer & Head-Business Operations
Jeremy King Senior Vice President & Head-Engineering
Jeffrey D. Jordan Independent Director
Jeremy Seth Levine Independent Director
Sector and Competitors
1st jan.Capi. (M$)
PINTEREST, INC.-16.89%35 306
TENCENT HOLDINGS LIMITED-18.12%551 990
PROSUS N.V.-22.00%261 762
NETFLIX, INC.8.99%259 582
AIRBNB, INC.13.48%104 159
DOORDASH, INC.56.15%74 853