Pacific Crest raised its price target on Pandora to $32 from $24, citing increased confidence in the company’s competitive position and monetization improvements following a meeting with management; the firm keeps an Outperform rating on Pandora stock.
Pandora price target raised to $32 from $25 at BMO Capital
BMO Capital increased its price target on Pandora after the company reported that its listener hours increased by 18% in September. The firm is still upbeat on the company's outlook and keeps an Outperform rating on the shares.
Pandora price target raised to $31 from $23 at Barrington
Barrington increased its price target on Pandora after the company released its September listening metrics. The firm thinks the company's listener trends are tracking in-line with its plan, while Pandora should benefit from increased spending on mobile advertising. Barrington keeps an Outperform rating on the stock.
Pandora price target to $30 from $25 at Canaccord
Canaccord raised Buy rated Pandora's price target following September ad load survey results that indicate upside to Q3. The firm said Q3 is tracking well despite a slightly lower August ad load and local mix. The firm's Q3 mobile ad RPM estimate is $35
Analyst Laura Martin, of Needham & Co., raised her price target on the Internet radio company to $33 a share from $25 and maintained her buy rating on the stock. In a research note, Martin also lifted her revenue estimates for Pandora's 2014 and 2015 fiscal years and based must of her forecasts on the company's results through the end of October.
Anyone can raise price targets, it's usually a good sign to sell when they raise price targets. Regarding short positions, If you are a daytarder then a short position here may not be wise. As the price rises I will increase my position. I don't trade on the day to day, I look much further out. In this case its much shorter like 6-7 months. As soon as the hedge funds are done and the rotation out of this sector begins, it will not be at 30 it will be at 18.
I wish you well in your long position, but the classic saying always prevails.
"Be greedy when others are cautious and cautious when others are greedy." - quoted Warren Buffet
Pandora will continue to rise up till when Cramer opens his big beak screaming how much Pandora is still a great buy. That will be where the stock falls off a cliff.