Pandora Media Inc (NYSE:P) announced that Nick Bartle will join the company as Chief Marketing Officer, effective October 3, 2016. Bartle will bring Pandora’s next chapter to life through compelling marketing and communications as the company gives listeners the most personal music experience in the world.
“From the moment I met Nick, his ability to make a substantial and immediate impact on Pandora was clear,” said Tim Westergren, founder and CEO of Pandora. “Nick brings a deep understanding of consumer marketing and strategic communications from years of experience with the world’s most revered brands. He is the perfect leader to accelerate Pandora’s brand momentum during this transformative time.”
Bartle comes to Pandora fromLinkedIn, where he served as Vice President of Member Marketing and Communicationsfor the last year. In this role, he drove communications and positioning to the professional networking site’s 450 million plus members, launched LinkedIn’s first-ever television ad and the company’s “Chase Great” campaign during this year’s Olympic Games.
“I’m thrilled to join Pandora at this inflection point,” said Nick Bartle, Pandora’s new CMO. “The company is poised to completely redefine the music experience once again. I can’t wait to roll up my sleeves and connect our listeners to artists in ever more unique and personal ways.”
Prior to joining LinkedIn, Bartle was the Senior Director of Marketing Communications for Apple for more than four years, where he played key roles in the marketing and advertising of multiple successful product launches, including the iPhones from 4s to 6 Plus, iPad Air and the Apple Watch. Earlier in his career, Bartle held senior roles at BBDO and Goodby Silverstein & Partners developing digital, print and television campaigns for New Balance, E*TRADE, Starbucks and HP. (Original Source)
Shares of Pandora Media closed last Friday at $14.09, up $0.08 or 0.57%. P has a 1-year high of $22.20 and a 1-year low of $7.10. The stock’s 50-day moving average is $13.78 and its 200-day moving average is $11.65.
On the ratings front, P stock has been the subject of a number of recent research reports. In a report issued on September 21, Needham analyst Laura Martin reiterated a Buy rating on P, with a price target of $16, which implies an upside of 14% from current levels. Separately, on September 20, Wells Fargo’s Peter Stabler reiterated 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, Laura Martin and Peter Stabler have a total average return of 19.9% and 18.9% respectively. Martin has a success rate of 70% and is ranked #36 out of 4183 analysts, while Stabler has a success rate of 73% and is ranked #284.
The street is mostly Bullish on P stock. Out of 22 analysts who cover the stock, 12 suggest a Buy rating , 9 suggest a Hold and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $15.38, which represents a potential upside of 9.2% from where the stock is currently trading.
Pandora Media, Inc. provides an internet radio service in the United States, Australia and New Zealand. It offers a personalized experience for listeners to listen radio on smartphones, tablets, computers, car audio systems, and Internet-connected devices. Its also offers service through the Free Service and Pandora One models. The Free Service is advertising-supported and allows listeners access to music and comedy catalogs and personalized playlist generating system for free across all of the Pandora delivery platforms. The Pandora One covers paid subscription service without any advertising.