BUZZ-Pinterest rises after Goldman Sachs adds stock to Americas conviction list
Shares of Pinterest (PINS) rose 1.4% after Goldman Sachs added the stock to its Americas conviction list, while removing Amazon and Guidewire. Analyst Eric Sheridan highlighted potential for steady revenue growth and improving user engagement, particularly among younger demographics. The average rating from 40 analysts is "buy," with a median price target noted. Despite this, PINS stock is down approximately 13% year-to-date.
Shares of image-sharing platform Pinterest (PINS.N) rise 1.4% to $32.82
Goldman Sachs adds PINS to the Americas conviction list and removes Amazon.com (AMZN.O) and Guidewire (GWRE.N)
Goldman Sachs analyst Eric Sheridan sees a number of levers for PINS to drive steady average revenue per user growth of its existing user base
Brokerage also points toward steadily improving user growth and engagement trends at PINS, including in key demographics such as younger users and on its mobile app
Brokerage says inclusion on this list is not a stock rating and addition to or removal from this list does not necessarily represent a change in the analyst’s investment rating for such stock
Average rating of 40 analysts covering the stock is “buy”, their median PT is $43 - LSEG data
Up to last close, stock down ~13% this year