Dubai, United Arab Emirates-Monday 22 February 2021 [ AETOS Wire ]
Pinterest has beat expectations on the last three earnings reports. On February 4th Pinterest released the Q4 financial results. The results showed revenue growth accelerating, with 76% year-on-year growth in the fourth quarter to $706 million. The number of monthly active users jumped to 459 million vs. 449.4 million expected.
The investors and traders are certainly impressed with the progress Pinterest stock has made over the last year. Since going public at $19 per share, PINS has risen more than 200%. Technically the overall momentum remained bullish for the $PINS throughout this year and the stock is up 32% so far in 2021. In the long term, watch for monthly closing above $90 or below $70 area, that will give a larger confirmation of direction in the long term.
Facebook is much larger, and Pinterest may never reach that scale, but the comparison shows the potential. Most importantly the active user’s growth and lack of controversy are helping the Pinterest stock to continue the upside momentum. As per the last quarter results, Facebook’s monthly active users are up 14% versus 37% for Pinterest. Recently, the Facebook stock performance also faced some controversy problems, including Apple's privacy change, the Democrats' Senate takeover and Trump's suspension.
Though the Pinterest stock has demonstrated good financial results and user’s growth, it also faces competition from other social media companies like Snap, Facebook and Twitter. Competition is one of the many factors that can affect a company’s stock performance.
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Contacts
Gulf Brokers
Syam KP, Chief Analyst
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