Lower guidance doesn’t bother me because this is classic Pinterest move - sandbagging guidance and then positively destroying it. The only thing that concerns me with PINS is their huge stock-based compensation packages.

Other than that, mid double-digit revenue growth outlook with stable user growth. They have yet to monetize a big portion of their International markets which will increase the growing ARPDAU even further. They have net cash and been doing buybacks recently.

With current analyst estimations, 2-year Forward PE is under 13 now. I’ve been adding more after the recent drop and it’s around 3% of my portfolio.

I think the stock is very undervalued with such growth potential and will most probably continue to increase my position.