Pinterest: Positive Signs Lining Up
- Pinterest is starting to see positive signs with the stock stabilizing above $20.
- Social media peer Snap provided a positive sign the ad market has stabilized potentially at a higher level.
- The company has the CEO in place to explore social commerce and boost ARPU placing the forward P/S multiple at 4.5x as historically cheap.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
While Pinterest (NYSE:PINS) was one of the first companies to feel the pinch from normalized covid demand, the social media company is now starting to see positive signs of a turnaround. The market got far too negative on the sector with the stock stabilizing around the pre-covid levels of $20. My investment thesis is ultra Bullish on the stock still trading in the bargain bin.
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Update - Sept. 9
Pinterest looking good here with the stock breaking a lot of strong resistance around $25.