PINS is a visual discovery engine, people discover and personalize visual content on its web and app offerings. Revenues are expected to grow 15% per year for the next few years, and earnings are expected to exceed $1.00 for 2024. Estimates have been coming down however but might have stabilized for now. It is probably fairly valued at current prices, and I'd be taking the wait and see approach. The biggest concern for the moment is advertisers cutting spending with the recession looming. Typically advertisers cut spending at second tier advertising platforms like Pinterest first, before cutting on first tier platforms like Google and Facebook. Additionally I feel like Pinterest does not have a huge growth opportunity ahead and the management doesn't seem very engaged to grow in other areas. Sometimes I feel Pinterest is a lot like Yelp that it goes nowhere. Maybe a trading range of between $17 and $30 for the next few years.

Technically has resistance around $26 and support around $20, not much to do around here, a quick breakout to $26 from the current range isn't ruled out. That however does not offer a good risk reward ratio.