Pinterest PINS shares are trading higher on Friday after Wells Fargo maintained its Overweight rating on the stock and raised its price target from $40 to $52 per share.
Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to. Founded in 2010, the platform consists of a largely female audience, at roughly two thirds of its more than 365 million monthly active users. The company generates revenue by selling digital ads and is now rolling out more in-platform e-commerce features.
Pinterest shares traded up 4.40% to $45.56 on Friday. The stock has a 52-week high of $45.84 and a 52-week low of $10.10.
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