Pinterest rises after Guggenheim upgrades to 'buy'

Shares of image-sharing platform Pinterest PINS.N rise 4.4% to $33.83 in premarket trading

Guggenheim upgrades PINS to "buy" from "neutral", raises target price to $40 from $39

"We believe that the recent share price pullback creates an attractive opportunity to invest in the still early-stage global user, monetization and profit growth opportunity at Pinterest," brokerage says

Guggenheim expects monetization of the user base to grow at above-market rates from 2025-27, fueled by further volume growth and AI-enabled advertising performance improvements

31 of 41 brokerages rate the stock "buy" or higher, 9 "hold" and 1 "sell"; median PT is $46.3 - data compiled by LSEG

Stock had fallen 21.7% in 2024