Pinterest rises after Goldman Sachs adds stock to Americas conviction list

Guidewire Software

01/10/2024 15:56

** 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

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))