Maxim Group Maintains Bullish Stance On Pandora (P) Following Analyst Day
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Price: $118.16 +0.69%
Rating Summary:
10 Buy, 24 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 24 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Maxim Group reiterated their lone-Buy rating and $23 price target on Pandora (NYSE: P) following yesterday's first analyst day.
Analyst John Tinker noted that management "offered up a logical presentation of why its business is like radio – with a long history of consumer acceptance – but with the Internet-like capabilities of personalization and advertisement measurement." The company was confident that Spotify and iTunes are in a different business.
In addition, the company was confident that copyright issues would be handled logically in 2015 when judges meet to establish a market rate. "We believe this is the largest concern in investors’ eyes, as the fee is payable on a usage basis and therefore less scalable," Tinker said.
The company currently has 100 million registered users and 36 million active users.
For more ratings news on Pandora click here and for the rating history of Pandora click here.
Shares of Pandora closed at $18.05 yesterday.
Analyst John Tinker noted that management "offered up a logical presentation of why its business is like radio – with a long history of consumer acceptance – but with the Internet-like capabilities of personalization and advertisement measurement." The company was confident that Spotify and iTunes are in a different business.
In addition, the company was confident that copyright issues would be handled logically in 2015 when judges meet to establish a market rate. "We believe this is the largest concern in investors’ eyes, as the fee is payable on a usage basis and therefore less scalable," Tinker said.
The company currently has 100 million registered users and 36 million active users.
For more ratings news on Pandora click here and for the rating history of Pandora click here.
Shares of Pandora closed at $18.05 yesterday.
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