Pinterest Inc 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.
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