Recently, Pinterest Inc.’s (PINS) shares have fallen by approximately 9%. Despite a strong quarterly report and projections for continued double-digit growth for the first quarter, there was no reason for the drop. The business continues to be strong for Pinterest.
Though Pinterest shares declined significantly in March, they are still more than 300% up in the past twelve months. Due to its peculiarities, social networks gained popularity during times of isolation on a large scale. These social networking accounts, which take the form of a wall with cards-attached to various hobbies, are now seen as a type of refuge from disturbing news in the past.
Pinterest’s revenue grew by nearly 80% on a year-over-year basis to $705 million in the fourth quarter. During the same time, their number of subscribers grew by 37%, and their revenue per user rose by 29%. Several trends from last year are expected to continue in the first quarter as Pinterest expects revenue to increase by about 70%.
The company believes that subscribers will continue to use social network services even after the pandemic is over. Additionally, management plans to integrate e-commerce into the product to improve monetization. As a result, viewers of Pinterest ads are more likely to make purchases than do viewers of other Facebook accounts.
Consequently, Pinterest maintains its overall positive factors. No matter what the future holds, the strong multi-million audience will not abandon Pinterest.
Pinterest Inc. (PINS) hit $71.88 at the end of the regular session, an increase of 4.22%. During that period, 10.07 million shares were traded, and the average trading volume is 12.47M shares per day. It’s important to consider the 52-week high and low price points when considering a stock’s current and future price. Pinterest Inc. shares are currently -20.04% below their 52-week high mark and 611.68% above their 52-week low mark.