Facebook Inc. (NASDAQ:FB): Oppenheimer has increased its above-consensus second-quarter estimates for Facebook following better-than-expected U.S. desktop data from comScore, though it left its above-consensus 2013 and 2014 estimates unchanged, believing that investor concerns regarding the cost of storing newly introduced Instagram videos are overblown. The firm keeps a $32 price target and reiterates an Outperform rating on the stock.
Yelp Inc. (NYSE:YELP): Following some substantial gains last week, Yelp shares have started to recede a bit after a downgrade to Neutral from Buy, courtesy of UBS. ”We continue to believe that Yelp is one of the best-positioned businesses within our coverage universe in terms of key secular themes (social, local, & mobile),” says analyst Eric J. Sheridan. ”We point to the pivot toward local e-commerce, new advertising products, a recent Nielsen study, and Q2 2013 comScore data as continued evidence supportive of our bullish fundamental view.” However, “Absent being acquired (which we can’t rule out), Yelp’s shares appear to be fairly valued at current levels.”
Pandora Media (NYSE:P): While working its way out of a public relations debacle, it seems Pandora is already bracing itself for the next round with music organizations and artists, which have expressed serious discontent and downright anger toward the streaming service for its never-ending pursuit of lower royalty rates. A series of leaked emails indicates that the company is prepping response to an artist protest that has yet to take place.