MKM Partners is Concerned About User Growth Deceleration for Pandora Media

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In a report published Monday, MKM Partners analyst Rob Sanderson reiterated a Buy rating and $35.00 price target on

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Pandora Media

(NYSE: P).In the report, MKM Partners noted, “P shares corrected by as much as 15% in the days following the Q2 report (NASDAQ down 2.7%), but has since reversed two-thirds of this decline with a rebounding NASDAQ (up 4.3% over the comparison period). The concern has been deceleration in user growth, with average monthly active listener growth of 8.2% in Q2, from 10.4% in Q1 and 16.3% in Q4.”Pandora Media closed on Friday at $27.40.