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Stock To Watch: Growing Interest In Pinterest

Shares of Pinterest, Inc. (PINS) climbed 9.63% on Tuesday, before closing at $21.51 after the new data by eMarketer showed that Pinterest has become the third-largest social media platform in the U.S., beating Snapchat. The market research firm also sees the trend continuing through 2022.

The stock has been trading in a range of $17.39 to $36.83 in the past one year. Trading volume saw a big surge yesterday at 33969898 compared with an average volume of 10,533,242.

In October last year, when the company reported its third-quarter results, revenue had grown 47% year-over-year to $279.7 million. Pinterest had earnings on an adjusted basis, of $5.96 million or $0.01 per share in the quarter compared with loss of $14.91 million or $0.12 per share in the corresponding quarter a year ago.

Global Monthly Active Users (MAUs) had risen 28% year over year to 322 million. By the end of the third quarter, Pinterest served ads to users in 28 countries, compared to seven at the end of 2018.

For the full-year, revenue is expected in the range of $1.1 billion to $1.115 billion; This compares with the Street estimate of $1.11 billion.

Fourth-quarter and full-year earnings report is expected to be published on Jan 30.

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