Pandora Media Inc (NYSE:P), the leading Internet radio service, announced that its display inventory is now available for programmatic buying across smartphones and tablets. Pandora’s new programmatic solution supplements its desktop offering to deliver viewable inventory, qualified data and a robust, engaged audience at scale across devices.
“The power of Pandora’s data fuels our digital advertising leadership and helps brands reach the right listener, with the right message at the right time,” said John Trimble, chief revenue officer at Pandora. “The launch of our desktop programmatic solution was an important step, and this latest offering on smartphones and tablets further positions our company for growth by meeting the needs of our current buying partners and unlocking new market opportunities.”
Pandora’s mobile programmatic solution gives media buyers the opportunity to:
- Reach nearly 80 million active listeners, 80 percent of whom are tuning in via mobile devices.
- Efficiently bid on premium display inventory through private marketplace and preferred deals.
- Leverage Pandora’s registration data, proprietary targeting segments, advertising IDs and / or the advertiser’s own dataset to effectively reach their target audience.
Pandora’s mobile programmatic solution was released in beta in March of 2015 and has been leveraged by brands such as Ford and agencies including Essence.
“Essence has devoted great effort to selecting top partners to forge the future of agency-publisher integrations,” said Oscar Garza, head of programmatic at Essence. “Pandora has proven to be a valued partner in that journey. The latest milestone is a mobile programmatic integration that we are very excited about. Pandora’s mobile solution encompasses all of the capabilities we seek to align with: innovation, viewability and engagement.” (Original Source)
Shares of Pandora Media closed yesterday at $16.86 . P has a 1-year high of $30.48 and a 1-year low of $14.50. The stock’s 50-day moving average is $18.15 and its 200-day moving average is $17.04.
On the ratings front, Pandora Media has been the subject of a number of recent research reports. In a report issued on June 10, Axiom analyst Victor Anthony maintained a Hold rating on P, with a price target of $18, which represents a potential upside of 6.8% from where the stock is currently trading. Separately, on June 9, Morgan Stanley’s Benjamin Swinburne maintained a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Victor Anthony and Benjamin Swinburne have a total average return of 15.8% and 11.1% respectively. Anthony has a success rate of 65.3% and is ranked #106 out of 3629 analysts, while Swinburne has a success rate of 68.1% and is ranked #646.
The street is mostly Bullish on P stock. Out of 16 analysts who cover the stock, 11 suggest a Buy rating , 4 suggest a Hold and one recommend to Sell the stock. The 12-month average price target assigned to the stock is $20.44, which implies an upside of 21.2% from current levels.
Pandora Media Inc provides internet radio services on smartphones, tablets, traditional computers and car audio systems, as well as other internet-connected devices.