Pinterest Stock Is Relatively Cheap According to This Metric
Pinterest (NYSE: PINS) was one of the unintended beneficiaries of the pandemic's onset. Folks instantly were spending more time at home, giving rise to an increase in demand for at-home entertainment options. The company experienced a further tailwind as people were more often undertaking DIY projects and cooking, and visiting Pinterest for inspiration.
That said, the economic reopening is reversing those trends, and Pinterest is suffering as a result. The company has lost monthly active users for three consecutive quarters, and its stock is down considerably from its all-time high. The sell-off has Pinterest trading at a bargain price, according to the following metric.
Image source: Getty Images.
Source Fool.com
