3 Buzzing Social Media Stocks: Facebook Gets a Bump, Pandora Sells Off, LinkedIn’s New Hire
Facebook (NASDAQ:FB): Facebook has been upgraded to Outperform from Market Perform by Cowen in the wake of a stock run that has seen shares swell some 73 percent since the social network’s second-quarter report. The analyst believes strong ROI in the News Feed is sustainable with increasing advertising demand meeting rising inventory and prices, and sees Instagram and Video as additional monetization opportunities that are not fully reflected in shares.
Pandora Media (NYSE:P): Pandora shares are selling off as investors take profits and as positive reviews start to pour in on iTunes Radio. “This morning, the Web and mobile radio announced underwriters have fully exercised the 2.73 million-share overallotment option provided with the company’s 18.2 million-share stock offering (priced Thursday),” Seeking Alpha reported, adding, “that means the offering now stands to yield gross proceeds of $393 million, and increase Pandora’s diluted share count by 9 percent.”
LinkedIn (NYSE:LNKD): LinkedIn named former Google ad executive Penry Price as its new ad sales chief in the marketing solutions business, sales which made up 24 percent of LinkedIn’s revenue in the second quarter. Price was at Google for seven years before leaving to take charge of the ad-targeting firm Media6Degrees, recently renamed Dstillery.
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