Pandora Media (P) : Traders are bullish on Pandora Media (P) as it has outperformed the S&P 500 by a wide margin of 8.3% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.17%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.14% in the last 1 week, and is up 8.71% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Pandora Media, Inc. is up 23.96% in the last 3-month period. Year-to-Date the stock performance stands at -0.45%. The stock has recorded a 20-day Moving Average of 0.69% and the 50-Day Moving Average is 5.6%.
Pandora Media (NYSE:P): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.96 and $12.96 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.44. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.35, notching a gain of 3.25% for the day. The total traded volume was 3,574,366 . The stock had closed at $12.93 on the previous day.
Also, In the latest statement by the brokerage house, Pacific Crest downgrades its outlook on Pandora Media (NYSE:P). The current rating of the shares is Underweight, according to the research report released by the firm. Previously, the company had a rating of Sector Weight. The rating by the firm was issued on July 22, 2016.
Pandora Media, Inc. is a United States-based provider of Internet radio in the United States. The Company offers a personalized experience for each of its listeners wherever and whenever they want to listen to radio on a range of smartphones, tablets, computers and car audio systems, as well as a range of other Internet-connected devices. It allows local and national advertisers to deliver targeted messages to its listeners using a combination of audio, display and video advertisements. Its free service is advertising-based and allows listeners access to its music and comedy catalogs, and personalized playlist generating system for free across all of its delivery platforms. Pandora One is a paid subscription service without any advertising. Pandora One also offers listeners daily skips, audio on supported devices and timeout-free listening. The Companys technologies include Music Genome Project and Comedy Genome Project.