3 Buzzing Social Media Stocks: Pandora is Slowing Listener Hours, Facebook Makes Home Improvements, and Zynga Brings Its Gambling Full Circle
Pandora (NYSE:P): Needham says that the 14 percent pullback in shares since Monday is due to slowing listener hour growth and anticipated streaming competition from Apple (NASDAQ:AAPL), but the firm believes Pandora is purposely slowing listener hour growth to maximize profitability and recommends using the sell-off as a buying opportunity. Needham keeps a Buy rating on the name with a $20 price target.
Facebook (NASDAQ:FB): Facebook is making its Home program more approachable to users who initially shunned the program and its steep departure from the Android norm. With a new favorites dock and the added ability to drag apps into folders that launched on Wednesday, Facebook is making Home a bit more user-friendly and fixing some of the biggest gripes that have given the program a 2 of 5 star rating.
Zynga (NASDAQ:ZNGA): Zynga appears to be coming full circle with its business model according to reports that the company may be bringing its real-money gambling program to Facebook, where it all began. ZyngaPlusPoker and ZyngaPlusCasino apps will reportedly become available to Facebook’s U.K. users and will supposedly be accessible on desktop computers initially and later move to mobile.