Equities research analysts at Needham & Company initiated coverage on shares of Pandora Media (NYSE: P) in a research note issued to investors on Monday. They set a “buy” rating and a $13.00 price target on the stock.
Separately, analysts at Collins Stewart initiated coverage on shares of Pandora Media in a research note to investors on Thursday, December 29th. They set a “neutral” rating and a $13.00 price target on the stock. Analysts at Albert Fried & Company reiterated a “market perform” rating on shares of Pandora Media in a research note to investors on Thursday, December 15th. Also, analysts at Goldman Sachs (NYSE: GS) initiated coverage on shares of Pandora Media in a research note to investors on Wednesday, December 14th. They set a “neutral” rating on the stock.
Pandora Media, Inc. (Pandora) is an Internet radio in the United States. As of January 31, 2011, it had over 80 million registered users. The Music Genome Project and its playlist generating algorithms enable it to deliver personalized radio to its listeners. When a listener enters a single song, artist or genre to start a station, a process it calls seeding, the Music Genome Project together with its playlist generating algorithms, allows it to instantly generate a station. It generates revenue from advertising. It also offers a subscription service to listeners. The Pandora service allows listeners to seed personalized stations with artists, composers, songs and genres or choose stations organized by genre. Listeners can create up to 100 personalized stations and use its QuickMix combination feature to listen to two or more of their stations at one time.
Shares of Pandora Media opened at 10.01 on Monday. Pandora Media has a 52 week low of $9.15 and a 52 week high of $26.00. The stock’s 50-day moving average is $10.45 and its 200-day moving average is $13.33. The company has a market cap of $1.615 billion.