As investors navigate the stock market in 2024, Pinterest and PayPal emerge as potential stocks for long-term growth. Pinterest’s AI-driven initiatives and strategic partnerships point to growth opportunities, while PayPal’s robust performance in the online payment processing sector makes it a viable investment despite recent dips.
As the first month of 2024 unfolds, investors are being urged to be discerning in their stock selection, aligning their choices with their long-term financial aspirations.
It’s a reminder that not all stocks will maintain a steady performance, and the key to successful investing lies in the ability to identify potential growth stocks that align with one’s investment strategy.
One of the stocks that have caught the attention of investors is Pinterest (PINS). This social media giant, which centers around image search and sharing, has seen its stock rise by an impressive 40% over the past year, significantly outpacing the S&P 500.
With nearly half a billion monthly active users, Pinterest is harnessing the power of artificial intelligence to make every pin shoppable, transforming the way people interact with social media platforms.
Furthermore, Pinterest has secured partnerships with corporate juggernauts like Adobe and Salesforce to bolster its advertising capabilities. This strategic move has not only opened new avenues for revenue generation, but it has also led to a $7 million GAAP profit in the most recent quarter. This indicates potential growth opportunities for Pinterest that could extend over the next 5-10 years.
Another stock that investors might want to consider is PayPal (PYPL). Despite a 30% dip from a year ago, PayPal persists as a formidable force in online payment processing, holding approximately 40% of the global market share. In the most recent quarter, the company witnessed a 15% year-over-year increase in total payment volume and an 8% rise in net revenue.
Even amidst a challenging macroeconomic landscape and intensifying competition, PayPal continues to showcase robust growth figures. Given its current valuation, PayPal could be a captivating option for investors looking for a discounted growth stock for long-term holding.
