RBC Capital Remains Positive on Pandora Media Inc Following Analyst Day


Pandora Media Inc (NYSE:P) received another set of praises from analysts at RBC Capital in a research note released today. The research team, led by analyst Mark Mahaney (TipRanks’ #13), reiterated an Outperform rating and a $25 price target, following the company’s Analyst Day in San Francisco. Pandora shares are currently trading at $15.34, down $0.07 or 0.45 percent.

Mahaney noted, “While specific larger questions were not answered – timing of international expansion or meaningful updates on the CRB process – we walked away incrementally positive, with management touching on the shear scale of the service, benefits to stakeholders, its very large TAM, and several secular tailwinds helping to drive continued growth, and we further find our “Ratatat” Pandora station highly conducive to writing notes, an added benefit in our view.”

Furthermore, “We believe investing in growth is the right action for P to take at this point in its lifecycle, and have reasonable confidence that the team can execute on its plan. We further note that Pandora is well positioned to benefit from three secular tailwinds aiding growth across the ‘Net: personalization, Mobile, & digital monetization.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mark Mahaney has a total average return of 23.2% and a 67.7% success rate. Mahaney has a -11.6% average return when recommending P, and is ranked #13 out of 3505 analysts.

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