Pinterest had its Relative Strength (RS) Rating upgraded from 69 to 93 Wednesday. The social media tech stock surged Tuesday on stronger-than-expected Q3 earnings and robust Q4 revenue forecast.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength. This exclusive rating from Investor's Business Daily tracks price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the market's biggest winners often have an RS Rating of over 80 at the beginning of a new climb.
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Is Pinterest Stock A Buy?
The IBD 50 stock recently reclaimed its 50-day and 200-day moving average and broke out of a double-bottom base with 28.90 entry point. It's still within a buy range, but investors should proceed with caution as the market is still in correction.
Taking a look at revenue and profit performance, the content provider has posted rising EPS growth over the last four quarters. Top line growth has also increased over the same time frame.
Pinterest stock holds the No. 1 rank among its peers in the Internet-Content industry group. Pinterest and Alphabet Cl C are also among the group's highest-rated stocks.
