30 Stocks That Should Double in 3 Years

14. Pinterest Inc. (NYSE:PINS)

Number of Hedge Fund Holders: 73

Pinterest Inc. (NYSE:PINS) is a visual search and discovery platform that allows people to find ideas, such as recipes, home & style inspiration, and others. It lets its users search, save, and shop these ideas. It also offers various advertising products to help advertisers meet users, and an ad auction that allows advertisers to serve ads to users at relevant moments.

Pinterest recently introduced Performance Plus, which is an AI-powered product to provide greater performance and efficiency to advertisers while automating campaign setup. In 2024, the company’s efforts to build a suite of lower funnel tools that capture users’ commercial intent began to yield strong results. This contributed to an overall revenue growth of 19% to $3.65 billion, which more than doubled the growth rate from 2023.

In Q4 2024 alone, Pinterest achieved its first $1 billion revenue quarter, which grew revenue by 18% and drove a record number of clicks during the critical holiday season, with clicks to advertisers growing over 90% year-over-year. In 2025, Pinterest Inc. (NYSE:PINS) intends to double down on its efforts to improve these lower funnel tools.

Renaissance Large Cap Growth Strategy recently initiated a position in the company and 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.”