3 Buzzing Social Media Stocks: Facebook’s Media Reports, LinkedIn’s Ad Discussions, Pandora Stares Down Apple
Facebook (NASDAQ:FB): Facebook announced that it will begin sending weekly reports about social media posts concerning television shows to each of the four major networks. Though the reports won’t be made publicly available, they will help Facebook build partnerships with the networks, and they will also help the networks acquire feedback about their programming. The move comes in response to Twitter’s Amplify program, which has already made deals with several networks to coordinate advertising initiatives.
LinkedIn (NYSE:LNKD): Macquarie raised its LinkedIn estimates to $285 from $260 based on checks and advertiser discussions that were incrementally more positive on customer adoption of the new Sponsored Updates newsfeed-based ad product. The shares are Outperform rated.
Pandora (NYSE:P): Cannacord has issued a research note about Pandora in which the firm disregards fears that Apple’s (NASDAQ:AAPL) iTunes Radio will be a major competitor with Pandora. Cannacord points to Pandora’s established relationships with customers in the market as a strong point for the company, saying that iTunes Radio is simply too new to pose a credible threat in the immediate future, though, on a more medium-term time scale, it could very well be a formidable competitor. Cannacord raised its price target on Pandora to $30, which would represent a 20 percent increase in the stock’s price over the next year.
Don’t Miss: Facebook and Twitter Battle for Broadcaster Dollars.