Pinterest (PINS) Stock Surges to Industry Leadership with RS Rating Upgraded to 75

Pinterest Stock Shows Stronger Relative Strength But Still Lags Benchmark

Pinterest (PINS) stock has been upgraded from a relative strength (RS) rating of 67 to 75 on Tuesday, indicating its position as a market leader among Internet-Content industry group stocks. The RS rating by IBD measures a stock’s price performance over the past 52 weeks against other stocks in the database and ranges from 1 (worst) to 99 (best). Research shows that the best-performing stocks usually have an RS rating over 80 in the early stages of their upward momentum, and it remains uncertain if Pinterest can maintain this trajectory.

Currently, Pinterest is considered extended and has moved out of the buy range after hitting a buy point of 28.90 in an initial double bottom pattern in October. Investors should keep an eye out for new patterns or follow-on buying opportunities, such as a three-week tight formation or a pullback to the 50-day or ten-week moving average. Despite slowing earnings growth from 155% to 83% in the last quarter, revenue has increased from 11% to 12%. The company is expected to release its latest performance figures around April 25.

Pinterest ranks ninth among its peers within the Internet-Content industry group, with Meta Platforms (META), Kanzhun ADR (BZ), and SEMrush Holdings (SEMR) being some of the top-rated stocks in this group. As investors make their investment decisions, staying informed about market developments and trends is crucial for making well-informed choices.

Leave a Reply