Pinterest’s Positive Upgrade: Is it Time for Another Investment Opportunity?

Pinterest Stock Shows Stronger Relative Strength But Still Lags Benchmark

Pinterest stock was upgraded from a relative strength (RS) rating of 67 to 75 on Tuesday, indicating that it is currently outperforming many other stocks in its industry. IBD’s unique rating system tracks market leadership on a scale of 1 (worst) to 99 (best) by comparing a stock’s price performance over the past 52 weeks to other stocks in the database. This upgrade suggests that Pinterest is showing strong momentum and could continue to rise if it can surpass the RS rating threshold of 80.

Currently, Pinterest stock is considered extended and has moved out of the buy range after hitting a buy point of 28.90 in October. However, investors should keep an eye out for new patterns or follow-on buying opportunities, such as a three-weeks tight formation or a pullback to the 50-day or 10-week moving average. Although earnings growth has slowed from 155% to 83% in the last quarter, revenue has increased from 11% to 12%. The company is expected to announce its latest performance figures around April 25.

In terms of its peers within the Internet-Content industry group, Pinterest ranks ninth among top-rated stocks including Meta Platforms (META), Kanzhun ADR (BZ), and SEMrush Holdings (SEMR). As investors make their next moves, it’s important to stay informed about market developments and trends in order to make well-informed investment decisions.

Leave a Reply