Key Highlights

● Pinterest fell again on Friday, October 30, 2026, near $19.12.

● Adjusted EPS of $0.46 missed the roughly $0.48 estimate.

● Revenue of $1.174 billion missed the $1.205 billion consensus.

● Wells Fargo lowered its price target.

Pinterest (NYSE:PINS) fell again on Friday, October 30, 2026, a day after the stock dropped steeply in its initial reaction to third-quarter results. Shares traded around $19.12 during the session, according to market data, leaving the visual-discovery platform among the decliners in the Russell 1000.

The quarter missed on both lines. Adjusted Earnings Per Share came to $0.46, short of the roughly $0.48 analysts expected, and Revenue of $1.174 billion fell below the $1.205 billion consensus. Reports differed slightly on the earnings estimate, with one source citing $0.49.

The holiday guide

The outlook added to the disappointment. Pinterest guided fourth-quarter revenue to $1.425 billion to $1.475 billion, below the $1.517 billion analysts had forecast. The holiday quarter is typically the most important of the year for Advertising platforms, so a soft guide for that period carries extra weight.

Market reports said that European advertising regulation hurt cross-border ads. Wells Fargo (NYSE:WFC) pointed to a related issue, citing China cross-border headwinds in the European Union.

Wells Fargo trims its target

Wells Fargo cut its price target on Pinterest to $23 from $31, while keeping an Overweight rating, according to market data. The firm cited the cross-border advertising pressure and kept its rating unchanged.

Pinterest, based in San Francisco, makes money mainly by selling ads on its platform, where users save and search for images and ideas. Changes to cross-border advertising rules can affect how much advertisers spend on the platform.

Social media under pressure

Pinterest's slide came during a difficult week for social-media stocks. Reddit (NYSE:RDDT) plunged on Friday after warning that its daily users could fall in the fourth quarter, and market reports said declines in Snap (NYSE:SNAP) and Meta Platforms (NASDAQ:META). Communication services was among the weaker sectors, and it posted its worst month since April 2022 in October, according to market data.

The broader market had its worst day since June. The S&P 500 fell 140.32 points to 7,580.07, the Dow Jones Industrial Average lost 572.25 points to 51,770.31 and the Nasdaq Composite dropped 747.73 points to 25,437.00. Intel (NASDAQ:INTC)'s warning about cash burn and Amazon (NASDAQ:AMZN)'s negative trailing free Cash Flow drove heavy selling in technology stocks, while energy, consumer staples and utilities rose.

"A lot of them kind of got ahead of themselves. It's all earnings based and right now, they're not producing," said a trading specialist according to market data. Pinterest's miss on both revenue and earnings left it on the wrong side of that equation this quarter.

What to watch

The key question is whether Pinterest can land fourth-quarter revenue inside its guidance range as the holiday advertising season unfolds. Investors will watch for updates on cross-border advertising in Europe and on how the company adapts to the regulatory changes that Market data cited.

Additional analyst reactions may follow Wells Fargo's move. More broadly, the market faces Apple (NASDAQ:AAPL)'s results on Monday, November 2, the midterm elections on Tuesday, November 3, and the October jobs report on Friday, November 6. The Federal Reserve held rates this week but markets are leaning toward a December hike, a backdrop that could keep pressure on growth stocks.

Advertisers' budgets for the holiday quarter, and how they divide spending among social platforms, will be the next test for the company.