Pinterest's Modest Rally Masks Long-Term Plummets as Commerce Pivot and CTV Expansion Push Forward, Trading Volume Ranks 468th

Market Snapshot

On January 23, 2026, , . , ranking 468th in daily trading activity. Despite the short-term rally, Pinterest’s long-term performance remains weak, . . , highlighting ongoing investor skepticism.

Key Drivers

Pinterest’s strategic pivot toward performance-driven advertising and commerce has intensified as it appoints Claude (Lee) Brown as Chief Business Officer (CBO) and expands its shoppable TV partnership with Roku. Brown, previously of DoorDash and Spotify, will oversee global sales, advertising, and customer-facing operations, consolidating leadership under a single executive for the first time. This move follows the departure of CRO Bill Watkins after 12 years, signaling a shift from broad user growth to monetization efficiency. Brown’s appointment aligns with Pinterest’s broader goal of converting its “intent-driven” user base into direct, measurable commerce activity, particularly through connected TV (CTV) platforms.

The Roku partnership, featuring the original series , represents a key step in this strategy. By integrating shoppable content into connected TV, Pinterest aims to bridge the gap between inspiration and purchase, leveraging its user base’s planning-oriented behavior. The series, distributed on Roku, includes brand integrations from Wayfair, Michaels, and eos, targeting high-intent audiences. This expansion into CTV is further supported by Pinterest’s acquisition of tvScientific, enabling advertisers to measure TV inventory via performance metrics rather than impressions. Analysts view the partnership as a test of Pinterest’s ability to scale commerce beyond mobile, a critical factor in improving its monetization per user.

Valuation discrepancies and earnings risks remain central concerns for investors. While Simply Wall St estimates Pinterest’s shares are undervalued, the stock has underperformed in recent months, . Earnings forecasts add to the uncertainty, . The challenge lies in balancing short-term execution risks—such as the success of Brown’s leadership and the Roku partnership—with long-term monetization potential. Emarketer’s forecasts suggest U.S. , driven by higher value per user rather than audience growth.

Pinterest’s transition to a commerce-centric model also involves refining its ad product suite. The rollout of , a platform for automated, outcome-focused advertising, reflects a shift away from brand storytelling toward measurable outcomes. This aligns with broader industry trends where advertisers prioritize efficiency over reach. However, the company’s reliance on small and medium-sized businesses (SMBs) for ad revenue introduces volatility, as these advertisers are more sensitive to macroeconomic shifts. The recent leadership changes and content strategy shifts—such as hiring former Amazon executive Claudine Cheever as CMO—underscore Pinterest’s effort to sharpen its narrative around commercialization and brand positioning.

Looking ahead, the success of Pinterest’s strategy will hinge on its ability to demonstrate scalable, profitable growth. While the Roku partnership and CTV expansion offer a path to monetize underutilized screens, the company must prove it can sustain user engagement and ad demand amid slowing user growth. , expected in early February 2026, will be a critical test of these initiatives. For now, Pinterest’s stock remains a high-risk, high-reward proposition, with its valuation discounted against both historical performance and future expectations.