Goldman Sachs analyst Heath Terry upgraded Pinterest Inc (NYSE: PINS) from Neutral to Buy with a price target of $61.00 (from $37.00).

The analyst commented, "We upgrade Pinterest to Buy from Neutral on strong user growth continuing through 3Q, based on current app download data, and expectations for continued monetization improvement. Our field checks, along with Snap’s 3Q results, suggest that advertiser demand strengthened over the course of the quarter, particularly for smaller platforms like Pinterest, Twitter, and Snap."

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Shares of Pinterest Inc closed at $48.30 yesterday.