Analysts at SunTrust Banks Inc. reiterated a Buy rating on shares of Pandora Media Inc. (NYSE: P) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. With a rating of Buy on the stock, the company has a 52-week high of $22.20. The one-year price target of $15.20 is above the opening price of $13.55, resulting a number of other analysts to issue statements on the stock in recent days. Typically, after analysts issue a “reiterated rating” report on a stock, they will later issue sporadic revisions, usually followed by a price target change.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of Pandora Media Inc. (NYSE: P) opened at $13.55 yesterday trading between $13.45 and $13.71, and last traded at $13.65, which represents a jump of $0.16 compared to the previous closing price.
Pandora Media Inc. (NYSE: P) now has a market cap of 3.15B.
3,119,444 shares traded hands yesterday, 41 percent below the average, out of a total float 192,210,000. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to pinpoint large volume aggregation or dissemination by institutional investors.
As with all possible breakouts, investors look for volume to be at least 40%-50% greater than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By following the activity of these professional investors—and the moving averages they influence— traders can make the best trades.
With that in mind, Pandora Media Inc. (NYSE: P) now has a 50-day MA of $13.74 and 200-day MA of $11.58. It has traded in a 52-week range between $7.10 – 22.20 and today’s last price is 0.39% lower than the 52 week high of $22.20.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings by at least 25% over 3 consecutive years.
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