Boston, MA 06/05/2014 (wallstreetpr) – Pandora Media Inc (NYSE:P) announced that the number of its listener hours during May 2014 increased by 28%. Now the listener hours were 1.73 billion, an increase from 1.35 billion during May 2013. Pandora Media also announced that the overall share of U.S. radio listening was 9.13% in May 2014, a jump from 7.29% in the same month from the previous year. There was also an increase in the number of active listeners by 9%. The number of active listeners went from 70.8 million in May end 2013 to 77.0 million in May end 2014.
The Practice of Audience Metrics
Pandora Media Inc (NYSE:P) has a standard practice of releasing its audience metrics on a quarterly basis. With the release of aforementioned data, the company unveiled the audience metrics for the month of May 2014. The company offers audience metrics on a quarterly basis in earnings calls and periodic filings. The audience metrics reveals the true picture of the company in respect to the previous period.
Stock Rating of Pandora Media
Pandora Media Inc (NYSE:P) got “Buy” rating from SunTrust on June 4, 2014. The Susquehanna’s research analysts cut down the price target on the stock of the company from $41.00 to $30.00, and its rating is now “Positive.” The Nomura analysts reiterated the rating of the company to “neutral” and they have the price target of $29.00 from $32.00. At last, the research analysts at Raymond James upgraded Pandora Media’s stock, and it now has the rating of “Market Perform.” The price target of Raymond James is now $31.00. At the same time, three analysts rated the shares of Pandora Media with “Sell.” Seven of the analysts gave a “Hold” rating to the stock of the company, while seventeen other research analysts gave it a “Buy” rating. The consensus rating of Pandora Media Inc (NYSE:P) is “Buy” and the consensus target price on the stock of the company is $33.42.