3 Buzzing Social Media Stocks: Canon Gives Facebook a Button, Zynga’s a Hold at Benchmark, and Pandora Beats Estimates
Facebook (NASDAQ:FB): Camera titan Canon has introduced the first Facebook-ready camera, which features a dedicated Facebook button in the camera body that allows users to upload the photos or videos that they’ve just taken. Since there is not a data network option, the camera will have to be connected to Wi-Fi, though this is becoming increasing easier to do just about anywhere.
Zynga (NASDAQ:ZNGA): “The extreme value destruction from an accelerated player fade within their web business could persist indefinitely;” Benchmark analyst Mike Hickey said in his initiation of coverage on Zynga. “A continued suggestive that the Company must provide a believable web stabilization trend and/or material mobile acceleration; before valuation can reset a positive forward trend.” However, the firm views the near-term stock price risk/reward profile as balanced, and it puts a Hold rating and $2.98 price target on the shares.
Pandora Media (NYSE:P): Pandora has reported earnings per share of 4 cents, beating estimates by 2 cents. Revenue also beat, weighing in at $162 million and beating by $5.6 million. The company projects that third-quarter revenue will be at $174 million-$179 million and EPS of 3 cents-6 cents against the consensus of $170.5 million and 8 cents. Investors are apparently displeased by the news, as shares are down over 10 percent in after-hours trading.