12 High Growth Large Cap Stocks to Buy Now

8) Pinterest, Inc. (NYSE:PINS)

5-Year Revenue Growth: ~27.8%

Average Upside Potential: ~31.6%

Market cap as of 12 November: $20.7 billion

Pinterest, Inc. (NYSE:PINS) carries out its operations as a visual search and discovery platform in the US and internationally.

Wall Street experts believe that Pinterest, Inc. (NYSE:PINS)’s unique selling proposition revolves around its ability to connect users with ideas and products they might not have known they wanted. As a result, it makes it an attractive platform for advertisers who focus on reaching out to consumers early in the buying process.

The analysts are optimistic about Pinterest, Inc. (NYSE:PINS)’s strategic partnerships with tech giants such as Amazon and Google. The collaborations should fuel revenue growth throughout various regions and categories. The Amazon partnership has increased coverage in underserved categories, which has supported Pinterest, Inc. (NYSE:PINS)’s advertising reach. Furthermore, its integration with Google demonstrated promising signs, with its inclusion in ‘targeted placements’ in Google Ads Manager. This hints at the potential for further data sharing and revenue opportunities.

Pinterest, Inc. (NYSE:PINS)’s advertising strategy continues to evolve, with a strong focus on improving the ad tech stack and increasing ad relevancy. Also, its Al-driven initiatives, like Performance+, continue to demonstrate potential for cost savings and efficiency improvements for advertisers. All such advancements, together with the platform’s high-intent user base, place Pinterest, Inc. (NYSE:PINS) favorably amidst the competitive digital advertising market.

Analysts at Wedbush upped their price target on the shares of Pinterest, Inc. (NYSE:PINS) from $37.00 to $38.00, giving a “Neutral” rating on 8^th November. ClearBridge Investments, an investment management company, released its Q3 2024 investor letter. Here is what the fund said:

“Selection in the communication services sector also weighed on performance, primarily driven by a decline in Pinterest, Inc. (NYSE:PINS), which operates a social media platform where users can express their interests and discover ideas through images they “pin” to their pages. Having been a strong contributor in the first half of the year, the company gave back some of its gains as investors captured gains and an uptick in economic uncertainty pushed out spending by leading advertisers. We capitalized on this weakness to add to the position, as we believe that several of its internal initiatives to increase the monetization of its users and become a better value-added advertiser to its customers are coming to fruition.”