Pandora Media, Inc. (NYSE: P) shares rose on Friday, January 13 on heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.03% slipped 5.27 points to close 19,885.73, moving in a roughly 100-point range all session. For the week, the blue-chip index is off 0.4%.
U.S. financial markets will be closed Monday for Martin Luther King Jr. Day.
The S&P 500 index SPX, +0.18% added 4.20 points, or 0.2%, to end at 2,274.64 for a weekly loss of 0.1%, and the Nasdaq Composite Index COMP, +0.48% climbed 26.63 points, or 0.5%, to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.
Pandora Media, Inc. (NYSE: P) had its price target raised by equities researchers at Aegis from $16.00 to $17.00. Aegis currently has a rating of Buy on the stock. A number of other analysts have spoken on the company recently, and Pandora Media, Inc. has earned a consensus one-year price target of $14.30, higher than the opening price of $13.04, a difference of 11.21 percent. Pandora Media, Inc. stock has a 52-week high of $14.98.
Shares of Pandora Media, Inc. (NYSE: P) opened at $13.04 yesterday and traded in a range between, $12.61 and $13.07, and last traded at $12.76, which is an increase of $0.76 over the previous closing price.
Pandora Media, Inc. (NYSE: P) now has a market cap of 2.98B.
Pandora Media, Inc. (NYSE: P) Average Daily Trading Volume
17,352,530 shares crossed the trading desk yesterday, 54 percent higher than the average, out of a total float 206,270,000. higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Pandora Media, Inc. (NYSE: P) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind, Pandora Media, Inc. (NYSE: P) now has a 50-day MA of $12.82 and 200-day MA of $12.91. It has traded in a 52-week range between $7.10 – 14.98 and today’s last price is 14.82%% lower than the 52 week high of $14.98.
Earnings growth is an important factor to consider when buying stocks and investors identify companies that have raised their earnings by at least 25% over the past 3 years.
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