Pinterest Stock Shows Stronger Relative Strength But Still Lags Benchmark

Pinterest Earns Upgrade on IBD’s Relative Strength Rating: Can It Rise Further?

Pinterest (PINS) stock was upgraded from a relative strength (RS) rating of 67 to 75 on Tuesday. This unique rating by IBD tracks market leadership on a scale of 1 (worst) to 99 (best) by comparing a stock’s price performance over the past 52 weeks to other stocks in the database. Research has shown that the best-performing stocks usually have an RS rating over 80 in the early stages of their upward momentum. It remains to be seen if Pinterest stock can continue to rise and surpass that 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 watch for signs of a new pattern or follow-on buying opportunities, such as a three-weeks tight formation or a pullback to the 50-day or 10-week moving average. Although earnings growth has slowed from 155% to 83% in the last quarter, revenue has increased from 11% to 12%. The company is expected to announce its latest performance figures around April 25.

Pinterest ranks ninth among its peers within the Internet-Content industry group, which includes top-rated stocks such as Meta Platforms (META), Kanzhun ADR (BZ), and SEMrush Holdings (SEMR). As investors consider their next moves, it’s important to stay informed about market developments and trends to make well-informed investment decisions.

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