2023-04-15 08:05:00 ET
Pinterest (NYSE: PINS) has found new life since hiring former PayPal executive Bill Ready as its new CEO last year. After seeing monthly active users decline 6% in 2021, Pinterest turned that around by growing its monthly user base by 4% in 2022.
With a new CEO and a return to growth, Wall Street is becoming more upbeat about the company's prospects. The stock is up 22% over the last six months but still down 68% from its all-time high following the market sell-off last year.
Let's look at Pinterest's competitive position compared to other social media platforms, and whether the stock is worth buying right now.
For further details see:
Stock Market Sell-Off: Is Pinterest Stock a Buy?