10 Stocks That Will Make You Rich In 3 Years

2. Pinterest, Inc. (NYSE:PINS)

Number of Hedge Fund Holders: 73

Analysts Upside Potential: 47.00%

Pinterest, Inc. (NYSE:PINS) is an internet company that is known for its visual search and discovery platform. It allows users to find, save, and share ideas primarily through images and videos. One of the key features of the platform is its advanced visual search technology, powered by artificial intelligence and deep learning.

The company posted a successful fiscal fourth quarter of 2024, its revenue reached $1 billion after growing 18% year-over-year. This was driven by a record number of clicks that led to the advertisement revenue growing more than 90%. Management noted that it aims to increase its efforts to improve its lower funnel tools.

Moreover, on May 5, Analyst Brian White from Monness maintained a Buy rating on Pinterest, Inc. (NYSE:PINS) with a price target of $50. The analyst noted that the company has enhanced its platform, particularly in supporting advertisers and expanding its shopping features, even amid challenging economic conditions and rising competition. The company is projected to meet revenue and earnings per share forecasts for the first quarter of 2025, with anticipated year-over-year revenue growth of 15% and a 10% increase in monthly active users. It is one of the stocks that will make you rich in 3 years.

Renaissance Large Cap Growth Strategy stated the following regarding Pinterest, Inc. (NYSE:PINS) in its Q4 2024 investor letter:

“We made several changes to the portfolio in the fourth quarter. Most recently, we added a new position in the Communication Services sector in December with Pinterest, Inc. (NYSE:PINS), a leading visual search and discovery platform with a unique curation function that enables users to find and display new ideas and creations that focus on interests such as fashion and home décor among other consumer goods. Since 2022, a new management team has transformed Pinterest into a shopping platform, providing more value and capabilities to advertisers includ ing direct connection with users, resulting in higher profits. In addition, the company was an early adopter of AI to increase personalization, advertising relevance options, and automated processes to increase ease-of-use for smaller advertisers. In the near term, we expect Pinterest to see monetization improvements with upside to Average Revenue Per User (ARPU) and traction in new categories and international markets.”