14 Best Affordable Stocks to Buy According to Hedge Funds

10. Pinterest, Inc. (NYSE:PINS)

Number of Hedge Fund Holders: 73

Share Price as of March 22: $32.42

P/E Ratio as of March 22: 12.14

Pinterest, Inc. (NYSE:PINS) operates a global visual search and discovery platform where users can explore and save ideas for home decor, fashion, recipes, and more. On February 7, Goldman Sachs analyst Eric Sheridan raised Pinterest’s price target from $42 to $47 while maintaining a Conviction Buy rating, citing strong Q4 earnings, increased user engagement, and ad revenue growth. The firm expects a positive Q1 outlook to ease investor concerns. PINS is one of the best affordable stocks to monitor.

Pinterest, Inc. (NYSE:PINS) achieved a huge milestone in Q4 2024, earning over $1 billion in revenue for the first time. Full-year revenue was $3.65 billion, up 19% from last year, while monthly active users grew 11% to 553 million. The company reported a Q4 net income of $1.85 billion, due in part to a tax benefit. PINS ended the year with $1.03 billion in adjusted EBITDA, with the impressive financials credited to higher user engagement and a stronger ad platform. Looking ahead, Pinterest expects Q1 2025 revenue between $837 to $852 million.

According to Insider Monkey’s fourth-quarter database, 73 hedge funds were long Pinterest, Inc. (NYSE:PINS), compared to 66 funds in the third quarter. Paul Singer’s Elliott Management was the largest stakeholder of the company, with 28 million shares valued at $812 million.