Why Pinterest Stock Gained More Than 18% in November
Shares of Pinterest (NYSE: PINS) were up 18.8% last month, according to data provided by S&P Global Market Intelligence. The image-centric platform closed October by reporting quarterly earnings, with analysts and investors continuing to take notice throughout November.
For Pinterest's third quarter, it reported year-over-year user growth of 37% and revenue growth of 58%. When revenue growth outpaces user growth, it means the company's platform monetization is improving -- and that's a big deal. Average revenue per user (ARPU) is just $1.03 globally right now, leaving plenty of room for future growth. The progress Pinterest has already made this year suggests it will able be to seize its ongoing opportunity.
Image source: Getty Images.
Source Fool.com
