Long Position on PINS @ $61.25 on 11/5/2020 (Momentum)

Pinterest, Inc. (PINS) provides visual discovery engine in the United States and internationally.

The company's engine allows people to find inspiration for their lives, including recipes, home and style ideas, travel destinations, and others.

It shows them visual recommendations based on people personal taste and interests. The company was formerly known as Cold Brew Labs Inc. and changed its name to Pinterest, Inc. in April 2012.

Pinterest, Inc. was founded in 2008 and is headquartered in San Francisco, California.

Pinterest reported 3rd Quarter September 2020 earnings of $0.13 per share on revenue of $442.6 million. The consensus earnings estimate was $0.02 per share on revenue of $356.1 million. Revenue grew 58.2% on a year-over-year basis.

The company said it expects fourth quarter revenue of approximately $640.0 million. The current consensus revenue estimate is $528.34 million for the quarter ending December 31, 2020.

As user counts, especially internationally, increase exponentially with the holidays approaching, Pinterest was able to boost ad sales which should lead to a higher increase in share prices.

Entry Point: $61.25

Trading Range: $10.10 to $68.93

Stop Loss: $58.20

Target Price: $67.35

Updates

11/25/2020 3:00:45 PM

PINS closed at $67.60.

Position closed on 11/25/2020 at price of $67.60 with a 10.37% gain in 20 days.

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