Pandora Media, Inc. (NYSE:P) – Research analysts at FBR & Co increased their Q3 2017 earnings estimates for shares of Pandora Media in a report released on Tuesday, Zacks Investment Research reports. FBR & Co analyst B. Crockett now anticipates that the Internet radio service will post earnings per share of ($0.20) for the quarter, up from their previous forecast of ($0.21). FBR & Co has a “Buy” rating and a $11.00 price objective on the stock. FBR & Co also issued estimates for Pandora Media’s FY2017 earnings at ($1.01) EPS, FY2018 earnings at $0.05 EPS, FY2019 earnings at $0.36 EPS and FY2020 earnings at $0.61 EPS.
Pandora Media (NYSE:P) last posted its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 74.78%. The firm had revenue of $378.60 million during the quarter, compared to analyst estimates of $380.54 million. During the same quarter in the prior year, the business posted ($0.07) EPS. The business’s revenue was up 7.6% compared to the same quarter last year.
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Several other research firms have also weighed in on P. Stifel Nicolaus restated a “buy” rating and set a $12.00 price target (down previously from $14.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Wedbush restated a “buy” rating on shares of Pandora Media in a research report on Tuesday, August 1st. Canaccord Genuity restated a “buy” rating and set a $14.00 price target (down previously from $15.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Citigroup Inc. restated a “buy” rating and set a $11.00 price target (down previously from $12.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Pandora Media in a research report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $11.24.
Shares of Pandora Media (NYSE P) opened at $4.57 on Thursday. Pandora Media has a one year low of $4.44 and a one year high of $14.10. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 1.58.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in shares of Pandora Media by 1,179.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,505,951 shares of the Internet radio service’s stock valued at $34,696,000 after purchasing an additional 4,153,778 shares during the period. Marshall Wace North America L.P. grew its stake in shares of Pandora Media by 789.9% during the 2nd quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock valued at $27,758,000 after purchasing an additional 2,737,635 shares during the period. First Trust Advisors LP grew its stake in shares of Pandora Media by 51.9% during the 2nd quarter. First Trust Advisors LP now owns 7,183,485 shares of the Internet radio service’s stock valued at $64,077,000 after purchasing an additional 2,454,296 shares during the period. Nordea Investment Management AB bought a new stake in shares of Pandora Media during the 2nd quarter valued at about $14,821,000. Finally, Clearbridge Investments LLC grew its stake in shares of Pandora Media by 37,810.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,442,865 shares of the Internet radio service’s stock valued at $17,040,000 after purchasing an additional 1,439,059 shares during the period.
In other news, insider Christopher W. Phillips sold 10,322 shares of Pandora Media stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $86,911.24. Following the completion of the transaction, the insider now owns 423,872 shares of the company’s stock, valued at approximately $3,569,002.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David Gerbitz sold 30,000 shares of Pandora Media stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $8.34, for a total value of $250,200.00. Following the completion of the sale, the executive vice president now owns 335,607 shares of the company’s stock, valued at $2,798,962.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,366 shares of company stock valued at $564,822. 2.59% of the stock is owned by 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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