Pinterest surges after earnings. Why Jim Cramer sees the stock as a long-term winner

Under CEO Bill Ready, who took over in June 2022, the company is"finally" translating all its user interest into ad sales, Cramer said on"Squawk on the Street." Pinterest's new focus on enhancing the shopping experience is better for users and advertisers, he added. Pinterest is like a digital pinboard, where people go for inspiration on interior design, their wardrobe and more.

"This is now going to be – along with Meta – a destination for you to advertise at," Cramer said."It had always been a destination for you to look at and then go somewhere else because you got the idea. Now, you stay.", which also owns Facebook and WhatsApp. While Meta is much larger than Pinterest, advertising is the primary revenue source for both companies.

Shares of Pinterest surged more than 19% on Tuesday to nearly $30 apiece, after releasing better-than-expected third-quarter results Monday evening.In addition to Pinterest's 11% revenue growth in the quarter, Cramer said he also was impressed by the company's improved profitability and expanding user base. Global monthly active users rose 8% compared with the year-ago period, to 482 million., which was announced in late April.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Jim Cramer's top 10 things to watch in the stock market TuesdayU.S. stocks edge up in premarket trading Tuesday, as shares of Club name Caterpillar (CAT) tumble on lackluster guidance.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

Jim Cramer's top 10 things to watch in the stock market MondayWe now care more about the Treasury's funding cycle than about earnings?
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

Here are 16 stocks Jim Cramer is watching, including Microsoft, Chevron, SouthwestHere are some of the tickers on Jim’s radar for Monday, Oct. 30, taken directly from his reporter’s notebook:
Fonte: NBCNewYork - 🏆 270. / 63 Consulte Mais informação »

Here are 16 stocks Jim Cramer is watching, including Microsoft, Chevron, SouthwestHere are some of the tickers on Jim's radar for Monday, Oct. 30, taken directly from his reporter's notebook:
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

Here are 2 stocks Jim Cramer is 'most concerned about' and 1 name that he likesThe Investing Club holds its 'Morning Meeting' every weekday at 10:20 a.m. ET.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

After stocks rebound on Monday, Cramer explains how the market can keep rallyingCNBC's Jim Cramer on Monday listed off factors that could help the market rally.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »