PINS has been beaten down by about 75% compared to this time last year. Now trades at a more realistic (cheap?) 19x forward earnings. Had at least two larger companies (PYPL and MSFT) try to buy them within the last year or so. Zero debt and 2.5B in cash. 13B market cap makes them a possible acquisition for many companies. Positive earnings for the past 3-4 quarters. They have had a deceleration in growth and users over the last few quarters after running up some spectacular pandemic era numbers. Revenues are up. PEG is about a 1 which is low if you consider this a growth company. Seems like it is trading as though people expect the monthly active user decline to continue. They have plans to convert the "pinners" into buyers, increase ARPU (average revenue per user) and compete more with other online retailers. If that plan works, and they keep or increase monthly users, it will make PINS a bargain at this level.
They lost 7 of their top executives this year. The CEO (and founder) is 40 years old and has been CEO since the company started in 2010. Can't figure out why the exodus. Could be rats leaving a sinking ship or could be the CEO shaking things up, hard to tell. They haven't done a stellar job on monetizing their users, so it could be they needed some new blood in those positions, who knows?
So its a mixed bag. Earnings come out Wednseday after market close. Should be interesting. I have some 2024 calls. I'm betting they either get bought or they start executing better on the monetization of their user base. Not a short term play, IMO.