Digital music industry has been transformed in past few years. According to a Statista report of this Digital music industry, music streaming is increasing at an unprecedented rate. According to the report revenue from subscription based streaming has increased by 367% from year 2008 to 2013 and revenue from ad-based streaming has increased by 293% in the same period. Though revenue from music download increased only by 54%, this segment still has the largest share in total digital music market. In the U.S. audio streaming space is dominated by players like Pandora Media Inc (NYSE:P), iHeart Radio, iTunes Radio an Apple Inc. (NASDAQ:AAPL) product, Google Play All Access by Google Inc (NASDAQ:GOOG). Pandora amongst the competitors dominates the industry with a market share of over 30%. Pandora Media Inc (NYSE:P), shares after opening at $29.87 moved to $30.24 on last trade day and at the end of the day closed at $28.40. Company price to sales ratio in past twelve months was calculated as 9.53 and price to cash ratio as 12.52. Pandora Media Inc (NYSE:P), showed a negative weekly performance of 3.89.
Netflix Inx. (NASDAQ:NFLX) fell $8.19 or 2.26% on Thursday and is over 20% off from where it was a month ago. The stock is now extremely oversold because it has reached theoretical low prices and is trading was below the trading envelope. NFLX is on bottom of the corresponding chart below. Netflix, Inc. (NASDAQ:NFLX), shares fell 4.90% in last trading session and ended the day on $337.31. Sorrento Therapeutics Inc (NASDAQ:SRNE), return on equity ratio is recorded as 10.10% and its return on assets is 2.30%. Sorrento Therapeutics Inc (NASDAQ:SRNE), yearly performance is 104.85%.
Research analysts at Bank of America raised their price target on shares of The Walt Disney Company (NYSE:DIS) to $94.00 in a report released on Friday, ARN reports. The firm currently has a “buy” rating on the stock. Bank of America’s price target suggests a potential upside of 15.07% from the company’s current price. The Walt Disney Company (NYSE:DIS), shares moved down 1.54% in last trading session and was closed at $80.43, while trading in range of $ 80.40 – 82.85. The Walt Disney Company (NYSE:DIS), year to date (YTD) performance is 5.27%.
CBS Corp. (NYSE: CBS) may be in the best position of all the broadcast networks, and it is one of the top picks at RBC. With an outstanding primetime lineup, solid sports franchises like the NFL, March Madness College Basketball, the Masters and other top programming, the venerable network has been an outstanding stock for shareholders. Investors are paid a small 0.8% dividend. The stock is up more than 60% in the past year. The RBC price target is $69. The Thomson/First Call estimate is $63. CBS closed Wednesday at $63.35, so a move to the RBC target is a 12% gain. CBS Corporation (NYSE:CBS), weekly performance is -0.76%. On last trading day company shares ended up $61.56. CBS Corporation (NYSE:CBS), distance from 50-day simple moving average (SMA50) is -2.84%. Analysts mean target Price for the company is $63.00.