Pinterest Stock Shows Stronger Relative Strength But Still Lags Benchmark
Business

Pinterest Stock Takes a Step Closer to Earnings Growth with Upgrade to RS Rating of 75

Pinterest (PINS) stock received an upgrade from a relative strength (RS) rating of 67 to 75 on Tuesday. This unique rating by IBD measures market leadership on a scale of 1 (worst) to 99 (best) by comparing a stock’s price performance over the past 52 weeks with other stocks in the database. According to research, the best-performing stocks typically have an RS rating above 80 in the early stages of their upward momentum. However, it remains uncertain if Pinterest stock can maintain its upward trajectory and surpass this threshold.

Currently, Pinterest is considered extended and has moved out of the buy range after hitting a buy point of 28.90 in a first-stage double bottom pattern in October. Investors should keep an eye out for signs of new patterns or follow-on buying opportunities, such as a three-weeks tight formation or a pullback to the 50-day or 10-week moving average. Despite slowing earnings growth from 155% to 83% in the last quarter, revenue increased from 11% to 12%. The company is expected to release its latest performance figures around April 25.

Within the Internet-Content industry group, Pinterest ranks ninth among its peers. Some of the top-rated stocks in this group include Meta Platforms (META), Kanzhun ADR (BZ), and SEMrush Holdings (SEMR). As investors make their next moves, it’s crucial to stay informed about market developments and trends to make well-informed investment decisions.

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