- Pinterest stock has been battered, but deservedly so. The market needed to reset its growth expectations, given its unsustainable surge in 2020-21.
- Our valuation analysis suggests Pinterest could meet reasonable growth assumptions at the current levels. But, PINS stock is still not undervalued.
- Our price action analysis doesn't indicate a double bottom bear trap price action. Therefore, PINS stock still lacks potent support to overturn its bearish momentum.
- Notwithstanding, we believe it's appropriate to revise our rating from Hold to Cautious Buy.
For further details see:
Is Pinterest Stock A Buy, Sell, Or Hold Now? Becoming Bullish Again