Pinterest (PINS) is higher today after Wolfe Research upgraded the stock to Outperform from Peer Perform and reiterated a $40 price target. The upgrade framed Pinterest’s risk/reward as improving as macro-related ad-demand concerns appear less severe than feared, while product execution has strengthened and the shares screen inexpensive versus comparable digital advertising platforms. (uk.investing.com)

After a sharp reset in the stock earlier this year, investors have been looking for evidence that Pinterest’s ad business can re-accelerate without requiring a broad macro rebound. Wolfe’s note effectively signals that the firm believes the pressure on ad budgets is becoming more manageable and that Pinterest’s product roadmap is starting to translate into better monetization potential, making the current valuation more compelling. (uk.investing.com)

Key near-term drivers are follow-through on performance advertising product momentum and updates tied to Pinterest’s expansion in performance advertising, including connected-TV initiatives via tvScientific (which Pinterest has said would integrate into its performance suite and close in the first half of 2026). Investors will also be sensitive to any commentary on advertiser demand, especially in retail, given the recent focus on macro and trade-related impacts to ad spending. (finance.yahoo.com)