Pinterest Stock Gains Traction With Instacart Deal, Multiple Analyst Upgrades

Pinterest, Inc. (NYSE:PINS) has attracted a wave of bullish calls from Wall Street over the past month, as several analysts raised their price forecasts and reiterated optimistic outlooks.

The latest update came from Morgan Stanley, where analyst Brian Nowak upgraded the stock from Equal-Weight to Overweight and increased the price forecast from $37 to $45.

Other analysts have also adjusted their price forecasts upward. Wedbush analyst Scott Devitt maintained an Outperform rating, raising the price forecast from $40 to $42. KeyBanc’s Justin Patterson kept an Overweight rating and increased the price forecast from $40 to $45.

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UBS analyst Lloyd Walmsley maintained a Buy rating, boosting the price forecast from $44 to $50. Similarly, TD Cowen analyst John Blackledge maintained a Buy rating and raised the price forecast from $40 to $43.

Wells Fargo analyst Ken Gawrelski maintained an Overweight rating, adjusting the price forecast from $41 to $42, and Citigroup’s Ronald Josey maintained a Buy rating, moving the price forecast from $41 to $44.

Earlier in June, JPMorgan analyst Doug Anmuth upgraded Pinterest’s stock from Neutral to Overweight, raising the price forecast from $35 to $40. Anmuth cited robust user growth, improved monetization strategies, and the platform’s resilience against search engine disruption as key drivers for this upgrade. He also highlighted potential upside in margins, supported by accelerating revenue and disciplined cost management.

Further contributing to the positive sentiment, Pinterest announced a new partnership with Instacart in June. This collaboration aims to enhance shoppability and ad targeting on Pinterest.

Through this deal, selected advertisers gain access to Instacart’s valuable first-party retail data, allowing them to precisely target high-intent users on Pinterest.

A subsequent phase of the partnership will introduce closed-loop measurement, enabling advertisers to directly link ad exposure on Pinterest with actual product sales on Instacart, providing clear insights into campaign effectiveness.

This collaboration also integrates Pinterest ads directly with Instacart, empowering users to complete purchases of items like recipe ingredients or personal care products within a few clicks, bridging the gap between inspiration and immediate action.

On the technical front, Pinterest has traded between a 52-week low of $23.68 and a high of $42.02. After sliding nearly 39% from its peak to early April lows, the stock rebounded more than 60% and is now up 32% year to date.

It trades about 12.6% above its 50-day moving average and 19% above its 200-day moving average, reflecting strong short and long-term momentum.

Price Action: PINS shares are trading higher by 2.30% to 37.97 at Monday’s last check.

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