Is Pinterest Stock a Buy After Beating Earnings Expectations?
While many stocks have been trounced in the recent tech stock sell-off, few have fallen as hard as Pinterest (NYSE: PINS). Since peaking last February at nearly $90 per share, the stock has fallen off a cliff and sits around $26 a share, or about a 71% drop. Not all of the drop can be attributed to market over-reaction, as Pinterest has had some rough headlines this year related to a rumored PayPal Holdings takeover and a drop in monthly active users (MAUs).
After reporting fourth-quarter earnings on Feb. 3, the stock price took a step in the right direction by rising 11%. Analysts had set low expectations going in, so a beat wasn't difficult. However, it will take more than a few earnings beats to get investors back into the black on this investment. Were the results good enough to warrant hanging on to this fallen stock?
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Source Fool.com
