Social Media Growth Name Sees Bullish Flows Continue to Point Higher
Pinterest (PINS) is staying strong on Wednesday as it cleared a range with 1000 Nov 8th $34 calls bought $2.52 as Oct calls adjust to capture earnings 10/30. PINS continues to be a fantastic put selling candidate as it sees bullish flows the past few weeks including larger opening put sales in the January $31 puts and March $31 puts as well as longer term bulls opening 2000 September 2025 $37 short puts ITM for 7.45 showing strong confidence in the name going higher into next year. PINS is a $23.3B communications tech name that is seeing strong double digit sales growth continuing and this year at +20% growth nearly while projected to grow revenues +16% through FY26. The comapny has been a top performer since its new CEO back in 2022 took over and although actually slightly negative YTD in 2024 its up over 20% year over year and alot of signs pointing to the stock regaining the 40 level into next year. Goldman recently added PINS to its Conviction Buy list with a $46 target and believes the company is set up well to continue to compound sales growth at a mid-to-high teens percentage pace and drive steady adjusted EBITDA margin expansion for the next five years.