Pinterest Inc (NYSE:PINS) shares are trading higher Thursday following positive analyst coverage from Goldman Sachs.
Goldman Sachs analyst Eric Sheridan upgraded Pinterest from Neutral to Buy and raised the price target from $24 to $31, citing improved user growth and engagement trends, as well as the company’s ability to grow monetization and take share in the advertising space. Sheridan believes the risk/reward opportunity is more positive with shares down more than 30% year-to-date.
Related Link: Pinterest To Rally Over 25%? Here Are 5 Other Price Target Changes For Thursday
On Monday, Piper Sandler analyst Thomas Champion maintained Pinterest with a Neutral rating and raised the price target from $22 to $23.
Pinterest is an online product and idea discovery platform that helps users gather ideas.
PINS Price Action: Pinterest has a 52-week high of $66 and a 52-week low of $16.14.
The stock was up 6.21% at $26.16 Thursday morning, according to Benzinga Pro.
Photo: Hassas Arts from Pixabay.
