Pandora Media Inc (NYSE:P), the leading Internet radio service, today announced that Mickie Rosen has been elected to the company’s board of directors, effective immediately.
“I’m thrilled to welcome Mickie to the board,” said Brian McAndrews, chairman, chief executive officer and president of Pandora. “We’re significantly expanding Pandora’s vision and working to create a strong, vibrant industry in which artists’ careers thrive and listeners continue to discover new music. Mickie’s experience cultivating consumer experiences and establishing key industry partnerships is invaluable and will be instrumental in helping us bring this vision to life.”
Rosen has over two decades of strategy, operating and investing experience working with both Fortune 100 companies and early stage startups that sit at the intersection of media and technology. In her most recent operating role, Rosen served as the senior vice president of Yahoo’s Global Media and Commerce division where she oversaw product, design, engineering, content and editorial, business development, partnerships and marketing solutions. This included Yahoo’s leading media properties – Yahoo! Homepage, News, Finance, Sports, Games, Entertainment, Lifestyles, Shopping, Autos, Travel, Homes and Video – across 20 categories and platforms worldwide.
Prior to her tenure at Yahoo!, Rosen was a partner with a digital media venture capital firm,Fuse Capital, where she co-founded and incubated Tecca. Rosen was also the head of entertainment for Fox Interactive Media where she led strategic initiatives in digital, including serving as a lead on envisioning, structuring and negotiating the creation of Hulu, and led content acquisition and distribution across the division. In addition, she was responsible for Rotten Tomatoes and Fox-branded properties such as AmericanIdol.com and for driving key entertainment initiatives for MySpace. Prior to this, Rosen led product development, marketing and public relations for Fandango and was an executive for The Walt Disney Company’s Corporate Alliances group where she managed Disney’s top global partners such as Coca-Cola, American Express and AT&T.
“I have an incredible passion for music. It’s universal, and it moves us emotionally. When I look back at key moments in my life, I can name and literally hear the songs and bands that defined those moments,” said Rosen. “There’s a huge opportunity for Pandora to play an even bigger role in expanding music for artists, moving audiences and delivering a great listener experience. I’m excited to join the team and to get started.” (Original Source)
Shares of Pandora Media Inc closed yesterday at $20.99. P has a 1-year high of $25.24 and a 1-year low of $13.30. The stock’s 50-day moving average is $18.85 and its 200-day moving average is $17.40.
On the ratings front, Pandora has been the subject of a number of recent research reports. In a report released yesterday, Stifel Nicolaus analyst John Egbert reiterated a Buy rating on P, with a price target of $30, which represents a potential upside of 42.9% from where the stock is currently trading. Separately, on September 28, Canaccord Genuity’s Michael Graham reiterated a Buy 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, John Egbert and Michael Graham have a total average return of -0.3% and 8.3% respectively. Egbert has a success rate of 44.4% and is ranked #2422 out of 3754 analysts, while Graham has a success rate of 51.5% and is ranked #289.
Overall, 4 research analysts have assigned a Hold rating and 14 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $22.80 which is 8.6% above where the stock closed yesterday.
Pandora Media Inc provides internet radio services on smartphones, tablets, traditional computers and car audio systems, as well as other internet-connected devices.