ArrowMark Partners is betting on Pinterest: Trading idea 4/04/24
ArrowMark Partners' optimism about Pinterest Inc. (PINS) is grounded in the company's solid performance throughout 2023, highlighting the significant growth in monthly active users and revenue. With an 11% year-over-year increase, bringing the monthly active users to a record 498 million in Q4 and annual revenue rising to 3.1 billion USD from 2.8 billion USD in 2022, Pinterest demonstrates a robust growth trajectory. This performance is further bolstered by an increase in average revenue per user (ARPU), a critical metric for platforms reliant on advertising revenue.
Pinterest's strategic expansion of its advertising products, more than doubling the options available to marketers, alongside partnerships aimed at enriching its advertising offerings, positions the company well for continued revenue growth. These strategic moves underscore Pinterest's appeal to both users and advertisers, leveraging its unique platform to capture a larger digital advertising market share.
Technical analysis of Pinterest Inc. stock (PINS)
D1 timeframe analysis: the daily chart reveals a 33.88 USD support level and a resistance level at 35.54 USD, within which Pinterest's stock has been trading. A notable "descending wedge" pattern is identified, traditionally considered a bullish reversal signal. This pattern suggests that, following a downward trend, the stock is poised for an uptrend, making it a focal point for investors anticipating a change in market sentiment.
H1 timeframe analysis: in the hourly chart, a potential opportunity arises for long positions once the resistance at 35.54 USD is breached, setting a short-term target at 41.23 USD. Based on current trends and technical indicators, holding a long position with an aim towards 49.32 USD could be advantageous for medium-term investment strategies.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Pinterest's strategic expansion of its advertising products, more than doubling the options available to marketers, alongside partnerships aimed at enriching its advertising offerings, positions the company well for continued revenue growth. These strategic moves underscore Pinterest's appeal to both users and advertisers, leveraging its unique platform to capture a larger digital advertising market share.
Technical analysis of Pinterest Inc. stock (PINS)
D1 timeframe analysis: the daily chart reveals a 33.88 USD support level and a resistance level at 35.54 USD, within which Pinterest's stock has been trading. A notable "descending wedge" pattern is identified, traditionally considered a bullish reversal signal. This pattern suggests that, following a downward trend, the stock is poised for an uptrend, making it a focal point for investors anticipating a change in market sentiment.
H1 timeframe analysis: in the hourly chart, a potential opportunity arises for long positions once the resistance at 35.54 USD is breached, setting a short-term target at 41.23 USD. Based on current trends and technical indicators, holding a long position with an aim towards 49.32 USD could be advantageous for medium-term investment strategies.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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