Pinterest Upgraded to 75 RS Rating: What Investors Need to Know

Pinterest Stock Shows Stronger Relative Strength But Still Lags Benchmark

Pinterest (PINS) has been upgraded from a relative strength (RS) rating of 67 to 75 on Tuesday, according to IBD’s unique rating system. The RS rating tracks market leadership on a scale of 1 (worst) to 99 (best), by comparing a stock’s price performance over the past 52 weeks to other stocks in the database. It is important for investors to keep an eye on the best-performing stocks, as research has shown that they usually have an RS rating over 80 in the early stages of their upward momentum.

Pinterest is currently considered extended and has moved out of the buy range after hitting a buy point of 28.90 in a first-stage double bottom pattern in October. However, investors should watch for signs of new patterns or follow-on buying opportunities, such as a three-weeks tight formation or a pullback to the 50-day or 10-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 announce its latest performance figures around April 25.

Pinterest ranks ninth among its peers within the Internet-Content industry group. Some of the top-rated stocks in this group include Meta Platforms (META), Kanzhun ADR (BZ), and SEMrush Holdings (SEMR). As investors make their next moves, it’s important to stay informed about market developments and trends in order to make well-informed investment decisions.

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