Market Overview

Shares Of Pandora Jump Over 5% Amid Bloomberg CFO Summit, Goldman Sachs Rumors

Related P
Pandora Listener Growth Significantly Slowed In October And November -Canaccord Genuity
Watch These 8 Huge Call Purchases In Wednesday Trade
Canaccord stays bullish but frets over Pandora listener stats (Seeking Alpha)

At the Bloomberg CFO Summit, Pandora Media's (NYSE: P) Chief Financial Officer Mike Herring said the company has “huge opportunity” and can extend the lead in the connected- music space.

Herring remarked that “almost every one” of its competitors has failed. The CFO reported that Pandora is pushing data to teams, which helps build sales and monetizes data through highly-targeted advertising. Herring added that the company's data storage has been commoditized.

In Tuesday's trading, shares traded as low as $23.79 before jumping over 5.6 percent to $25.13; shares climbed higher to $26.24 amid rumors that Pandora has hired Goldman to handle potential offers.

Pandora declined to comment to Benzinga on the rumor of the hiring of Goldman Sachs as an advisor.

At last check, shares are sitting at $24.68, about even for the day.

Posted-In: connected-music space Goldman Sachs Mike Herring targeted advertisingNews Rumors Management


Related Articles (P)

View Comments and Join the Discussion!