Pinterest Stock – Is Pinterest Stock a Buy?
By The Fintech Zoomabout 3 hours ago
Pinterest‘s (NYSE: PINS) stock soared more than 250% in 2020 as it gained over a hundred million new users throughout the pandemic. Its virtual pinboards — which allow users to share their hobbies, interests, and shopping ideas — attracted a lot of eyeballs as more people stayed at home. Retailers also uploaded more of their products to Pinterest as shoppable pins.
That growth showcased Pinterest’s potential as a visual search engine and a social shopping platform, and differentiated it from other social networks like Facebook (NASDAQ: FB) and Twitter (NYSE: TWTR). Pinterest’s focus on hobbies and ideas also insulated it from the controversies regarding fake news and hate speech that plagued Facebook and Twitter.
Image source: Pinterest.
Yet Pinterest’s stock has stayed nearly flat this year. It got off to a strong start and hit an all-time high of nearly $90 in February, but tumbled to the mid-$50s in May before rebounding to the high-$60s. That decline was largely attributed to the rotation from growth to value stocks, as well as a preference for reopening plays over pandemic stocks. That trend could continue throughout the rest of the year, but should long-term investors buy Pinterest anyway?
Pinterest is still growing like a weed…
Pinterest’s monthly active users (MAUs) increased 37% to 459 million at the end of 2020. That growth continued in the first quarter of 2021, as its MAUs rose another 30% year-over-year to 478 million. Its average revenue per user (ARPU) and total revenue also continued climbing at high double-digit rates.
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