P

Pandora Media Inc.

TMT


Presented:04/24/2013
Price:$13.67
Cap:$2.36B
Current Price:$52.18
Cap:$14.16B

Presented

Date04/24/2013
Price$13.67
Market Cap$2.36B
Ent Value$2.27B
P/E RatioN/A
Book Value$2.79
Div YieldN/A
Shares O/S0.00M
Ave Daily Vol5,290,000
Short Int21.42%

Current

Price$52.18
Market Cap$14.16B
Pandora Media, Inc. provides Internet radio services in the United States. The company allows listeners to create up to 100 personalized stations to access unlimited hours of free music and comedy, as well as offers Pandora One, a paid subscription service to listeners. It is also involved in the sale of displays, audio advertising, and video advertising products to advertisers for delivery on computer, mobile, and other connected device platforms. As of January 31, 2013, the company had approximately 175 million registered users; and 65.6 million active users. Pandora Media, Inc. was founded in 2000 and is headquartered in Oakland, California.

Highlights

The presenter is long shares of P and is bullish on the outlook for the company’s local advertising and overall monetization efforts. The local radio advertising market in the US is a $10 billion market, and P is now on Strata and Mediaocean, the two largest media buying platforms through which 80% of local ad inventory is purchased. He sees a major step-up in CPMs fueling revenue growth beyond what bears on P think is possible, and discussed the following factors influencing his positive outlook and near-term $16-$18 price objective:

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Idea Discussion

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