- Pinterest ( NYSE: PINS ) was on the rise Monday, climbing more than 6% as the social information and sharing site continued to rally ahead of its upcoming third-quarter results.
- Since falling to a two-year low of $16.14 a share in May, Pinterest ( PINS ) has risen 40%, and the company's shares advanced in a broad market rally. Among other social and Internet companies, Facebook parent Meta Platforms ( META ) rose 6%, Snap ( SNAP ) climbed nearly 8% and Google parent Alphabet ( GOOG ) was up by 4.5%.
- Pinterest ( PINS ) is scheduled to report its third-quarter results on Oct. 27.
- Earlier this month, Goldman Sachs analyst Eric Sheridan raised his rating on Pinterest's ( PINS ) stock to buy from neutral, and lifted his price target to $31 a share from $24. Sheridan said Pinterest's ( PINS ) outlook has become more positive as recent moves suggest it is in a better position to attract a bigger share of the market for online ad budgets .
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Pinterest shares climb 6% as stock rallies ahead of earnings report