Pinterest's (NYSE: PINS) stock surged 21% on May 1 after the social media company posted its first quarter earnings report. Its revenue rose 23% year over year to $740 million, exceeding analysts' estimates by $40 million, while its adjusted earnings surged 150% to $0.20 per share and cleared the consensus forecast by seven cents.

Pinterest's headline numbers were impressive, but does its stock still have room to run after rallying 90% over the past 12 months? Let's see why the bulls rushed back to Pinterest -- and where it might be headed over the next 12 months.

Image source: Pinterest.

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Source Fool.com