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Pinterest stock rockets toward best day on record as analysts cheer ‘valuable and growing’ user base

October 29, 2020

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Pinterest Inc. shares are zooming toward their best day on record Thursday after the company easily topped expectations for user growth, revenue, and earnings.

Shares of Pinterest PINS, 33.50% are up 38% in Thursday morning trading to roughly $68. The stock is cruising toward a new all-time closing high as well, as it has never finished a trading day above $53.

The results were enough to earn Pinterest at least two upgrades, from MKM Partners analyst Rohit Kulkarni, who bumped his rating on the stock up to buy from neutral, and from J.P. Morgan’s Doug Anmuth, who moved to overweight from neutral.

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