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Pandora Media, Inc. (P) provides Internet music streaming services in North America.
The company allows its listeners to create personalized stations to access free music and comedy catalogs, as well as personalized playlist generating system; and offers Pandora One, a paid subscription service to listeners.
It also sells audio, display, and video advertising to advertisers for delivery on computer, mobile, and other connected device platforms. In addition, the company offers ticketing and marketing software and services for venues and event promoters to promote their events, as well as allow fans to find and purchase tickets for events.
Shares are heading higher in an upward trading channel (shown in blue). The New York Times reports that Pandora could announce its plans this week to expand its $5-per-month platform, with possible features including skipping more songs or storing several hours of playlists, the newspaper said. The company plans to launch a full-fledged on-demand platform by Christmas. Such a platform, priced at $10 a month, would compete with Spotify and Apple Inc's Apple Music. Ahead of the event, the stock was upgraded this morning. We will wait for the morning volatility to wear off before opening a position. Note the entry point.
Entry Point: $13.50
52-Weeks Trading Range: $7.10 - $22.60
Stop Loss: $12.50
Target Price: $14.85
P closed at $14.86.
