Should You Hold Pinterest (PINS) for the Long-Term?

Insider Monkey12-18 23:35

RiverPark Advisors, an investment advisory firm and sponsor of the RiverPark family of mutual funds, released its “RiverPark Large Growth Fund” third quarter 2024 investor letter. A copy of the letter...

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During the third quarter, the markets performed strongly with the Russell 1000 Growth Index  and the S&P 500 index returning 3.19% and 5.89% respectively and RPX returning 3.73%. A weaker-than-expected jobs report that raised fears of a coming recession caused the RLG to drop 8.8% from the end of June to the fifth of August, giving the quarter a rocky start. As China passed a significant stimulus package and the Fed began its rate-cutting cycle with a 0.50% decrease to a goal of 4.75%-5.00%, those losses quickly reversed. In addition, please check the fund’s top five holdings to know its best picks in 2024.RiverPark Large Growth Fund stated the following regarding Pinterest, Inc.  in its Q3 2024 investor letter:","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B19Z9P08.USD":"LEGG MASON CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (USD) INC","IE00BZ9MQY76.HKD":"FTGF CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (HKD) ACC","BK4588":"碎股","BK4077":"互动媒体与服务","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU2317271919.USD":"BGF FUTURE CONSUMER \"A2\" (USD) ACC","BK4548":"巴美列捷福持仓","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","BK4551":"寇图资本持仓","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","BK4508":"社交媒体","PINS":"Pinterest, Inc.","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念"},"translate_title":"您应该长期持有Pinterest（PINS）吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PINS":1},"content_text":"RiverPark Advisors, an investment advisory firm and sponsor of the RiverPark family of mutual funds, released its “RiverPark Large Growth Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. During the third quarter, the markets performed strongly with the Russell 1000 Growth Index (RLG) and the S&P 500 index returning 3.19% and 5.89% respectively and RPX returning 3.73%. A weaker-than-expected jobs report that raised fears of a coming recession caused the RLG to drop 8.8% from the end of June to the fifth of August, giving the quarter a rocky start. As China passed a significant stimulus package and the Fed began its rate-cutting cycle with a 0.50% decrease to a goal of 4.75%-5.00%, those losses quickly reversed. In addition, please check the fund’s top five holdings to know its best picks in 2024.\nRiverPark Large Growth Fund highlighted stocks like Pinterest, Inc. (NYSE:PINS) in the third quarter 2024 investor letter. Pinterest, Inc. (NYSE:PINS) is a visual search and discovery platform that enables users to find ideas, such as recipes, home and style inspiration. The one-month return of Pinterest, Inc. (NYSE:PINS) was 6.06%, and its shares lost 16.49% of their value over the last 52 weeks. On December 17, 2024, Pinterest, Inc. (NYSE:PINS) stock closed at $31.00 per share with a market capitalization of $20.951 billion.\nRiverPark Large Growth Fund stated the following regarding Pinterest, Inc. (NYSE:PINS) in its Q3 2024 investor letter:\n\n\"Pinterest, Inc. (NYSE:PINS): Similar to GOOG, PINS was a top detractor in the third quarter despite reporting solid second quarter results and giving guidance that, it seemed to us, fell within the growth framework issued at the September 2023 Investor Day. Specifically, second quarter Monthly Active Users (MAUs) were 522 million, up 12% year-over-year and 2 million better than estimates, Revenue was $854 million, $5 million better than estimates, and EBITDA was $180 million, $4 million better than estimates. Revenue guidance for the third quarter of $885-900 million (+17% growth) was slightly below expectations and seemed to be what drove the stock down despite being squarely within the company’s 3-5-year guidance of mid-to high teens percentage revenue growth.\nWe believe Pinterest to be an extremely well-positioned internet advertising platform. Users are increasingly coming to Pinterest to get inspiration for their home, their style, or upcoming travel, which often means they are actively looking for products and services to buy. The company currently has 522 million MAU’s, 2/3 of whom are female (who continue to control the lion’s share of household purchasing budgets), which positions the company well to continue to take share of future ad dollar allocations. Continued growth of MAU’s and ARPU (grew 8% in the quarter), and the ramp of third-party relationships with Amazon and Google, should return the company to revenue growth rates approaching 20% for the coming years. In addition, strong cost controls should drive EBITDA margins back to the 2021 peak (40% v the current 21%), leading to strong growth in earnings and cash flow in the years to come.\"\n\n A young, stylish woman using her smartphone to find inspiration for her latest DIY project. \nPinterest, Inc. (NYSE:PINS) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 66 hedge fund portfolios held Pinterest, Inc. (NYSE:PINS) at the end of the third quarter which was 61 in the previous quarter. In the third quarter, Pinterest, Inc. (NYSE:PINS) delivered $898 million in revenues, up 18% year-over-year. While we acknowledge the potential of Pinterest, Inc. (NYSE:PINS) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.\nIn another article, we discussed Pinterest, Inc. (NYSE:PINS) and shared TimesSquare Capital U.S. Mid Cap Growth Strategy's views on the company. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.\nREAD NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.\nDisclosure: None. This article is originally published at Insider Monkey.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492133840"}