Is Pinterest a Buy?
Pinterest (NYSE: PINS) shares have been on quite the roller-coaster ride in recent years. Since the company went public in April 2019, the stock has risen as much as 265% at its all-time high. But from February 2021, the shares have fallen a sobering 73%. That downward spiral isn't too surprising, given that many unprofitable growth tech stocks have fallen way out of favor with investors as a new economic reality sets in.
Does this make Pinterest a beaten-down stock to buy now? Let's take a closer look at this social media company.
During the first quarter of 2023, ended March 31, Pinterest reported revenue of $603 million, representing 5% year-over-year growth. The number of monthly active users (MAUs) totaled 463 million at the end of the quarter, up 7% from Q1 2022. Both of these key metrics were better than what Wall Street analysts were looking for, even though Pinterest posted a diluted earnings per share loss of $0.31 in the quarter.
Source Fool.com
