Analyst Update: Facebook, Pandora Media, salesforce

Analysts revised their ratings and price targets on Facebook Inc (NASDAQ:FB), Pandora Media Inc (NYSE:P), and salesforce.com, inc. (NYSE:CRM)

by Karee Venema

Published on Feb 10, 2016 at 2:15 PM
Updated on Jun 29, 2020 at 4:29 PM

Analysts are weighing in on social network stock Facebook Inc (NASDAQ:FB), streaming radio provider Pandora Media Inc (NYSE:P), and cloud concern salesforce.com, inc. (NYSE:CRM). Here's a quick roundup on today's brokerage notes on FB, P, and CRM.

  • Jyske Bank initiated coverage on FB with a "strong buy" rating and a $120 price target, sending the shares up 3.5% to $102.99. Outside of recent headwinds among the broader tech sector, FB has done well on the charts. Year-over-year, the stock has jumped 35%, and hit a record high of $117.59 on Feb. 2. Unlike the options pits, most analysts are already on Facebook Inc's bullish bandwagon. Specifically, 27 brokerages maintain a "buy" or better rating, versus one "hold" and not a single "sell." Plus, the average 12-month price target of $133.45 stands at a 30% premium to current trading levels.

  • P has swung 4.8% higher to $8.35 -- after earlier notching an all-time low of $7.37 -- as a rally in tech stocks overshadows a round of negative analyst notes from Stifel, Canaccord Genuity, and Cowen and Company. The latter, specifically, downgraded P to "market perform" from "outperform" and lowered its price target to $9 from $21, citing "expectations of lower ad loads." Pandora Media Inc -- which will join a number of notable names in the earnings confessional tomorrow night -- has seen its fair share of bearish betting in recent weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day put/call volume ratio of 0.55 sits higher than 81% of all comparable readings taken in the past year.

  • Shares of CRM -- whose CEO recently expressed confidence in Fitbit Inc (NYSE:FIT) -- are up 4.6% at $60.01. Helping boost the stock is an upgrade to "buy" at CLSA, which also lowered its price target to $78 from $87. Barclays also chimed in on the security, cutting its price target to $67 from $90. Today's positive price action runs counter to CRM's longer-term trajectory, with the shares shedding 27.6% from their Nov. 19 record high of $82.90 -- and fresh off Monday's new annual low of $52.60. In the options pits, meanwhile, short-term speculators are more call-heavy than usual toward salesforce.com, inc. The stock's Schaeffer's put/call open interest ratio (SOIR) of 0.41 sits below 90% of all similar readings taken in the last year.
For other stocks in analysts' crosshairs read Analyst Upgrades: iRobot Corporation, Royal Gold, Inc, and Akamai Technologies, Inc. and Analyst Downgrades: Walt Disney Co, CTI BioPharma Corp, and ARM Holdings plc.

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