Pandora Media’s Market Perform Rating Reaffirmed at National Alliance Securities (P)
National Alliance Securities reaffirmed their market perform rating on shares of Pandora Media (NYSE: P) in a report issued on Friday. They currently have a $11.43 target price on the stock, up from their previous target price of $6.71.
“We view the Company’s fundamental near term share price risk / reward profile balancing neutral, with strong mobile advertising sales growth offset by content acquisition expense, local sales force development, executive departures (CEO and CFO), recent valuation increase and emerging / current competitive threats including: Apple, Google, Facebook, Twitter, TuneIn, Slacker and Spotify. Near term net positive valuation sentiment is likely centered over mobile sales growth as identified from mobile RPM; punctuated by spend dislocations over radio share / advertising spend and digital / advertising spend, creating a compelling performance path over an increasingly scaled / integrated mobile ad platform, including: engagement, demographic, user data, measurement, buyer toolset integration, local, etc.,” the firm’s analyst commented.
Pandora Media (NYSE: P) traded up 0.36% on Friday, hitting $13.87. Pandora Media has a 52-week low of $7.08 and a 52-week high of $14.70. The stock’s 50-day moving average is currently $12.34. The company’s market cap is $2.370 billion.
A number of other firms have also recently commented on P. Analysts at Pacific Crest initiated coverage on shares of Pandora Media in a research note to investors on Tuesday, March 12th. They set an outperform rating and a $17.00 price target on the stock. Separately, analysts at Dougherty & Co upgraded shares of Pandora Media from a sell rating to a neutral rating in a research note to investors on Monday, March 11th. Finally, analysts at Credit Suisse raised their price target on shares of Pandora Media from $10.00 to $13.00 in a research note to investors on Monday, March 11th. They now have a neutral rating on the stock.
Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. Pandora Media presently has an average rating of Buy and an average price target of $15.36.
Pandora Media, Inc. (NYSE: P), is an Internet radio in the United States. As of January 31, 2012, it had over 125 million registered users.
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