Pandora Media, Inc. (NYSE: P) shares rose in value on Monday February 13 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile U.S. stock-market indexes opened higher on Monday, setting intraday all-time highs shortly after market open. The S&P 500 SPX, +0.35% opened up 6 points, or 0.2%, at 2,322.
The Nasdaq Composite COMP, +0.44% began the session up 18 points, or 0.3% higher at 5,752. The Dow Jones Industrial Average DJIA, +0.51% added 64 points or 0.3%, to 20,340 at the open.
Analysts at Vetr Inc. upgraded shares of Pandora Media, Inc. (NYSE: P) from Hold to Buy today. Vetr Inc. currently has a rating of Buy on the stock. The one-year price target of $14.56 is higher than the opening price of $12.86, resulting a fair amount of other analysts to issue statements on the company recently. Looking back over the last 52 weeks, Pandora Media, Inc. stock has a high of $14.98. Usually, after analysts give an upgrade report on a stock, they will later issue periodic updates, such as a price target change.
Shares of Pandora Media, Inc. (NYSE: P) opened at $12.86 yesterday and traded in a range between, $12.85 and $13.20, and last traded at $13.18, which is an increase of $0.33 from the previous closing price.
Pandora Media, Inc. (NYSE: P) now has a market cap of 3.09B.
Pandora Media, Inc. (NYSE: P) Average Daily Trading Volume
1,005,053 shares traded hands yesterday, 20 percent lower than normal, out of a total float 207,011,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you are considering.
Pandora Media, Inc. (NYSE: P) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind, Pandora Media, Inc. (NYSE: P) now has a 50-day MA of $12.91 and 200-day MA of $12.96. It has traded in a 52-week range between $7.10 – 14.9800 and today’s last price is 12.02%% lower than the 52 week high of $14.98.
Earnings growth is a crucial factor to look at when investing in stocks and investors seek companies that have grown their earnings by at least 25% over a 3 year period.
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