Dougherty & Co Analysts Decrease Earnings Estimates for Pandora Media, Inc. (P)
Pandora Media, Inc. (NYSE:P) – Equities research analysts at Dougherty & Co dropped their Q3 2017 earnings estimates for shares of Pandora Media in a report issued on Thursday. Dougherty & Co analyst S. Frankel now forecasts that the Internet radio service will post earnings of ($0.25) per share for the quarter, down from their previous estimate of ($0.24). Dougherty & Co currently has a “Neutral” rating on the stock. Dougherty & Co also issued estimates for Pandora Media’s FY2017 earnings at ($1.22) EPS.
Pandora Media (NYSE:P) last posted its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.08. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The business had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. During the same period last year, the company earned ($0.12) EPS. Pandora Media’s revenue for the quarter was up 9.9% compared to the same quarter last year.
A number of other equities research analysts also recently issued reports on P. B. Riley restated a “buy” rating and set a $15.00 price objective on shares of Pandora Media in a research report on Tuesday, May 9th. BidaskClub upgraded Pandora Media from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Canaccord Genuity restated a “buy” rating and set a $14.00 price objective (down from $15.00) on shares of Pandora Media in a research report on Tuesday, August 1st. FBR & Co restated a “buy” rating and set a $11.00 price objective on shares of Pandora Media in a research report on Tuesday, August 15th. Finally, Barrington Research restated a “market perform” rating on shares of Pandora Media in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.07.
Pandora Media (P) opened at 8.59 on Monday. The company’s 50-day moving average price is $8.87 and its 200 day moving average price is $10.23. The company’s market capitalization is $2.08 billion. Pandora Media has a 52-week low of $6.76 and a 52-week high of $14.98.
Several hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. raised its stake in Pandora Media by 789.9% in the second quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock worth $27,758,000 after buying an additional 2,737,635 shares in the last quarter. First Trust Advisors LP raised its stake in Pandora Media by 51.9% in the second quarter. First Trust Advisors LP now owns 7,183,485 shares of the Internet radio service’s stock worth $64,077,000 after buying an additional 2,454,296 shares in the last quarter. Alliancebernstein L.P. raised its stake in Pandora Media by 44.0% in the first quarter. Alliancebernstein L.P. now owns 5,660,574 shares of the Internet radio service’s stock worth $66,851,000 after buying an additional 1,729,354 shares in the last quarter. York Capital Management Global Advisors LLC bought a new stake in Pandora Media during the first quarter worth $20,025,000. Finally, Nordea Investment Management AB bought a new stake in Pandora Media during the second quarter worth $14,821,000.
In other Pandora Media news, insider Christopher Douglas Martin sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $9.18, for a total value of $27,540.00. Following the sale, the insider now owns 257,921 shares of the company’s stock, valued at $2,367,714.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Gerbitz sold 9,959 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total value of $83,854.78. Following the completion of the sale, the executive vice president now directly owns 355,607 shares in the company, valued at approximately $2,994,210.94. The disclosure for this sale can be found here. In the last three months, insiders sold 40,366 shares of company stock worth $342,162. 2.59% of the stock is owned by corporate insiders.
About Pandora Media
Pandora Media, Inc (Pandora) is a music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music, whether through earbuds, car speakers or live on stage. The Company delivers targeted messages to its listeners using a combination of audio, display and video advertisements.
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