Pinterest 's (NYSE: PINS) stock price nearly quadrupled this year as the pinboard-based social network dazzled investors with its robust growth in revenue and users. But after that massive rally, investors might be wondering if the stock is still worth buying at nearly 20 times next year's sales. Let's delve deeper into Pinterest's strengths and weaknesses to find out.
Pinterest carved out a niche in the crowded social media market by allowing users to pin any images, videos, and products they find online to a virtual pinboard. The image-based platform is geared toward sharing interests and ideas instead of personal posts and news, which helped Pinterest avoid the hate speech and fake news controversies that have ensnared Facebook (NASDAQ: FB) and Twitter (NYSE: TWTR) in recent years.
Image source: Pinterest.
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Pinterest Stock Is Up 290% in 2020. Is It Still a Buy?