3 Buzzing Social Media Stocks: Facebook Gets Some Analyst Love, Pandora Follows Suit, and Yelp’s New Buddy Draws Controversy
Facebook (NASDAQ:FB): Prior to the markets open, Topeka raised Facebook’s price target to $47 from $40 due to a valuation short to year-end 2014 from year-end 2013. The analyst says that ad agency checks continue to show that Facebook is a must buy for digital advertisers looking for both brand and direct response ad buyers and that clicks in the newsfeed and price per a click are increasing. The shares are Buy rated.
Pandora Media (NYSE:P): After a year of dominant stock performance, Goldman Sachs finally boosted the stock from a Neutral rating to a Buy rating. The company has also been experiencing a great deal of Put activity during options trading with open interest apparently 79 percent higher than it has been in the last year.
Yelp (NYSE:YELP): Yelp has been partnering with the organization The American Legislative Exchange Council (ALEC), which sees member corporations propose and debate potential laws with U.S. policymakers, among other responsibilities. It has stirred up a bit of controversy due to some of ALEC’s conservative causes such as ‘stand your ground’ laws. Yelp has attracted criticism for aligning itself with ALEC’s agenda.
However, Yelp has been involved with ALEC in order to oppose strategic lawsuits against public participation laws, also known as SLAPPS. These lawsuits are a problem for review websites who sometimes see themselves sued due to the posting of a comment rating a product or service.