We recently published a list of 10 Firms Post Double-Digit Gains on Friday. In this article, we are going to take a look at where Pinterest, Inc. (NYSE:PINS) stands against other firms that posted double-digit gains on Friday.
The stock market fell into the red territory on Friday, with all major indices recording losses over renewed fears of growing trade tensions coupled with expectations of a higher inflation rate in the US.
The Dow Jones lost 0.99 percent, the S&P 500 declined 0.95 percent, while the tech-heavy Nasdaq dived by 1.36 percent.
Despite the overall pessimistic sentiment, 10 companies managed to defy losses, posting double-digit gains in their valuations amid a flurry of impressive earnings performance.
To come up with Friday’s top winners, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
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Pinterest, Inc. (NYSE:PINS)
Pinterest, Inc. (NYSE:PINS) saw its share prices surge by 19.08 percent on Friday to end at $40 apiece as investor optimism was fueled by its stellar earnings performance, having achieved its first billion-dollar revenue in the fourth quarter of last year.
In a statement, Pinterest (NYSE:PINS) said net income in the fourth quarter of 2024 skyrocketed by 818 percent to $1.85 billion from the $201 million reported in the same period last year, while also swinging to a net income of $1.86 billion from a $35.6 million net loss registered in 2023.
Revenues for the quarter increased by 18 percent to $1.15 billion while revenues for the full year jumped by 19 percent to $3.65 billion.
PINS CEO Bill Ready said that the strong performance suggested that the company’s strategy was paying off.
“Looking ahead, I’m confident that our focus on being a positive platform is a competitive advantage in driving long-term success for the business and value for our advertisers and users,” he said.
In the first quarter of 2025, Pinterest (NYSE:PINS) said it projects revenues to grow by 13 to 15 percent at $837 million to $852 million.
Overall, PINS ranks 5th on our list of firms that posted double-digit gains on Friday. While we acknowledge the potential of PINS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PINS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.
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