Pinterest (PINS) Surges 5.96% on Bargain-Hunting as Firm Falls to Record Low

• StockStory Top Pick PINS +5.96%

We recently published 10 Stocks Outrunning the Market; 3 on a High. Pinterest Inc. (NYSE:PINS) was one of the best performers on Friday.

Pinterest saw its share prices jump by 5.96 percent on Friday to finish at $17.77 apiece, as investors resorted to bargain-hunting after falling to a nearly six-year low earlier in the week.

Friday’s rally marked Pinterest Inc.’s (NYSE:PINS) fifth consecutive day in the green, as investors loaded up on shares to take advantage of its low price, having dropped to a record low of $13.84 four trading days ago following a weak earnings performance last year.

During the period, the company dropped its net income by 78 percent to $416.8 million from $1.86 billion in 2024, despite revenues surging by 17 percent to $4.2 billion from $3.6 billion year-on-year.

Photo by Souvik Banerjee on Unsplash

In the fourth quarter alone, net income also fell by 85 percent to $277 million from $1.8 billion in the same quarter a year earlier, while revenues jumped by 13 percent to $1.3 billion from $1.15 billion year-on-year.

Despite the results, Pinterest Inc. (NYSE:PINS) CEO Bill Ready assured investors that the company is laser-focused on execution and transforming sales and go-to-market efforts to align monetization with the valuable commercial intent it expects.

For the first quarter of the year, Pinterest Inc. (NYSE:PINS) is targeting revenue growth of 11 to 14 percent to a range of $951 million to $971 million.

Adjusted EBITDA is also expected at $$166 million and $186 million.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.