Pinterest Shares Soar on Strong Outlook. Is It Too Late to Buy the Stock?
Shares of Pinterest (NYSE: PINS) soared after the social media company reported strong results and issued an upbeat forecast. This flips the script for a stock that had come under pressure its prior two quarters due to weak guidance. As of this writing, Pinterest stock is up nearly 36% year to date but only about 7% over the past year.Let's look at Pinterest's most recent results to see whether it's too late to buy the stock.For the fourth quarter, Pinterest saw its revenue climb 18% year over year to $1.15 billion, just ahead of the $1.14 billion consensus as compiled by LSEG and above the high end of its $1.125 million to $1.145 million revenue guidance. U.S. and Canada revenue increased 16% to $900 million, while European revenue jumped 21% to $196 million. Revenue from its rest of world (ROW) segment soared 44% to $58 million.Continue reading
Shares of Pinterest (NYSE: PINS) soared after the social media company reported strong results and issued an upbeat forecast. This flips the script for a stock that had come under pressure its prior two quarters due to weak guidance. As of this writing, Pinterest stock is up nearly 36% year to date but only about 7% over the past year.
Let's look at Pinterest's most recent results to see whether it's too late to buy the stock.
For the fourth quarter, Pinterest saw its revenue climb 18% year over year to $1.15 billion, just ahead of the $1.14 billion consensus as compiled by LSEG and above the high end of its $1.125 million to $1.145 million revenue guidance. U.S. and Canada revenue increased 16% to $900 million, while European revenue jumped 21% to $196 million. Revenue from its rest of world (ROW) segment soared 44% to $58 million.
