From Nasdaq:

Pinterest stock, traded under the ticker (NYSE: PINS), has dropped from a high of $90 in early 2021 to around 60% below that figure currently, ranking it as a beaten-down growth stock. It saw a revenue increase of only 9% in 2023, which could be concerning for a growth stock image-browsing platform.
Pinterest is forming strategic partnerships with Amazon and Google to help drive new growth in 2024. These partnerships tap into the financial and tech prowess of two of the “Magnificent Seven,” an apt term for the top-performing tech stocks of the past decade. This could be a significant step towards reigniting growth potentials for the company.
Pinterest, known for its large number of monthly active users browsing images for inspiration, recently entered partnerships with Amazon and Google. The platform’s unique user-search data provides insights into consumer behavior and creators of visual content, making it a gold mine for advertisers looking for a less intrusive way to market products to a predisposed audience.
The partnerships with Amazon and Google will help Pinterest further monetize its platform. Amazon merchants will automatically display ads on Pinterest when appropriate, utilizing Amazon’s vast consumer data and merchant community. Google’s partnership comes in to help Pinterest quickly turn on monetization in its international markets, which was previously untapped.
Pinterest has struggled to monetize its large user base but has seen recent revenue growth acceleration since the partnership with Amazon began and is guiding for even stronger revenue growth in the first quarter of 2024. The company has been able to monetize international markets at only an average annual rate of $0.50 per user, which has room for significant improvement.
Pinterest is optimistic about achieving revenue growth of 15% to 17% in the first quarter of 2024, the highest result in two years. The partnership with Amazon started in 2023 and was a slow rollout, but already showed increased revenue growth. With the Google partnership still in its early phases, even stronger growth might come after the first quarter.
Pinterest stock might be a buy opportunity, as it has shown significant user base growth in recent years and is now poised to capitalize on its monetization potential through strategic partnerships with Amazon and Google. The partnerships could further drive significant growth potential for the company.



Read more: This Beaten-Down Growth Stock Could Soar in 2024, Thanks to Partnerships With 2 Members of the “Magnificent Seven”