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Is Pinterest (PINS) Stock a Buy For 2021?

Alex Smith
·3 min read

Carillon Eagle Mid Cap Growth Fund recently released its Q3 2020 Investor Letter, a copy of which you can download here. You should check out Carillon Eagle Mid Cap Growth Fund's top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q3 2020 Investor Letter, Carillon Eagle Mid Cap Growth Fund highlighted a few stocks and Pinterest Inc. (NYSE:PINS) is one of them. Pinterest Inc. (NYSE:PINS) is a social networking service. In the last one year, Pinterest Inc. (NYSE:PINS) stock gained 250.5% and on December 31st it had a closing price of $65.90. Here is what Carillon Eagle Mid Cap Growth Fund said:

"Pinterest operates a pinboard-style photo-sharing website that lets users create theme-based image collections for events, hobbies, and other personal interests. The firm proved to be a strong performer in the quarter after announcing stronger than expected revenue and user growth, especially outside the U.S. The company is beginning to see a recovery in advertiser spending from retail and consumer packaged goods companies. Additionally, it is benefitting from high engagement levels, new tools for conversion optimization, new shop-able ads, and international growth."

Earlier this month, we published an article revealing that Choice Equities Capital Management is bullish on Pinterest Inc. (NYSE:PINS) stock. The investment firm is betting on improving outlook for digital advertising.

In Q3 2020, the number of bullish hedge fund positions on Pinterest Inc. (NYSE:PINS) stock increased by about 51% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in Pinterest's growth potential. Our calculations showed that Pinterest Inc. (NYSE:PINS) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.