3 Buzzing Social Media Stocks: Facebook’s Baker Moves On, Pandora’s Big Month, Groupon Can Bank on Mobile
Facebook (NASDAQ:FB): Upstart firm Uber has poached Facebook’s former international growth chief, Ed Baker, to be its head of growth, one of the latest in a string of post-IPO executive departures for the firm. However, this past summer has proven that the company is able to support itself despite its disastrous post-IPO stock performance, which may slow the executive bleeding, Seeking Alpha notes.
Pandora Media (NYSE:P): Pandora shares are racing after the streaming radio service announced that its August listening hours totaled 1.35 billion, up 5 percent over July and up 16 percent year-over-year. Pandora’s share of U.S. radio listening rose to 7.46 percent, still below February’s 8.48 percent, before the 40 hour listening cap was implemented. Active listeners grew 1 percent over July and 28 percent year-over-year to 72.1 million.
Groupon (NASDAQ:GRPN): Morgan Stanley has upgraded Groupon to Overweight from Equal Weight based on increased confidence in the North American turnaround given strength in mobile usage and the introduction of the deal bank. The price target on the shares has been raised to $14 from $11.