Why Pinterest Stock Jumped Today

Shares of the image-sharing platform Pinterest (NYSE: PINS) popped today after an analyst upgraded the company's stock to a buy rating. Goldman Sachs analyst Eric Sheridan upgraded Pinterest to a buy rating from the previous neutral rating and gave it a price target of $31, up from $24. Sheridan said that while the online advertising market is "mired in uncertain times," he's still bullish on Pinterest, and he wrote in an investor note that the company is "positively levered to a number of long-term secular growth themes (engagement & ad spend shifting online, social commerce, creator economy, etc.)."