Is Pinterest Stock a Buy in 2024? Here's What the Experts Say

Friday, 3 May 2024, 21:44
Learn why Pinterest stock is expected to rise by 30% according to RBC Capital analyst Brad Erickson. With strong growth projections, innovative strategies, and potential for profitability, the stock is being recommended for investment by experts. Discover the key factors driving Pinterest's success and why analysts believe it presents a valuable opportunity for investors.
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Is Pinterest Stock a Buy in 2024? Here's What the Experts Say

Pinterest Stock Analysis for 2024

Just days after its earnings report was released, Pinterest stock looks like a growth-at-a-reasonable-price stock. Pinterest (NYSE: PINS) investors are having a great week. After Pinterest reported its best growth in three years Tuesday -- sales up 23% in Q1 2024 -- and predicted its momentum will continue into Q2, with sales rising another 18% to 20%, shares of the social media company surged 21% in a single day.

Expert Prediction

On Wednesday, StreetInsider.com spotted RBC Capital analyst Brad Erickson predicting Pinterest stock, which rose to $40 after earnings, will travel 30% higher, ending at $52 within a year.

AI and Shoppability Investments

Pinterest CEO Bill Ready credited "investments in AI and shoppability" for "driving even greater returns for advertisers," and Erickson agreed that advertisers are giving Pinterest more business as they see better returns on their ad spending.

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