Equities research analysts forecast that Pandora Media Inc (NYSE:P) will post sales of $399.71 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Pandora Media’s earnings. The highest sales estimate is $408.00 million and the lowest is $393.90 million. Pandora Media posted sales of $378.64 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Pandora Media will report full-year sales of $1.54 billion for the current financial year, with estimates ranging from $1.52 billion to $1.56 billion. For the next year, analysts forecast that the company will post sales of $1.74 billion, with estimates ranging from $1.64 billion to $1.82 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Pandora Media.
Pandora Media (NYSE:P) last issued its quarterly earnings results on Tuesday, July 31st. The Internet radio service reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.12. Pandora Media had a negative return on equity of 243.61% and a negative net margin of 24.14%. The firm had revenue of $384.79 million during the quarter, compared to analyst estimates of $373.61 million.
Several equities research analysts have issued reports on P shares. Wedbush set a $10.00 price target on Pandora Media and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Canaccord Genuity set a $10.00 price target on Pandora Media and gave the stock a “buy” rating in a research note on Wednesday, August 1st. B. Riley lifted their price target on Pandora Media from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research raised Pandora Media from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a research note on Saturday, August 4th. Finally, ValuEngine raised Pandora Media from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Pandora Media has a consensus rating of “Hold” and a consensus price target of $8.32.
In related news, CRO John Trimble sold 100,577 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $8.02, for a total transaction of $806,627.54. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO David Gerbitz sold 36,577 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $8.16, for a total value of $298,468.32. Following the transaction, the chief operating officer now owns 574,617 shares in the company, valued at approximately $4,688,874.72. The disclosure for this sale can be found here. In the last three months, insiders sold 180,890 shares of company stock valued at $1,461,155. 0.43% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC purchased a new position in shares of Pandora Media during the 2nd quarter worth approximately $118,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Pandora Media during the 2nd quarter worth approximately $212,000. Fox Run Management L.L.C. purchased a new position in shares of Pandora Media during the 2nd quarter worth approximately $270,000. Xact Kapitalforvaltning AB grew its holdings in shares of Pandora Media by 41.0% during the 1st quarter. Xact Kapitalforvaltning AB now owns 40,252 shares of the Internet radio service’s stock worth $202,000 after acquiring an additional 11,700 shares during the period. Finally, Brighton Jones LLC grew its holdings in shares of Pandora Media by 15.8% during the 2nd quarter. Brighton Jones LLC now owns 46,740 shares of the Internet radio service’s stock worth $368,000 after acquiring an additional 6,383 shares during the period.
P stock traded up $0.09 during mid-day trading on Monday, hitting $9.04. 8,942,092 shares of the stock were exchanged, compared to its average volume of 9,813,991. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 2.76. Pandora Media has a 12 month low of $4.09 and a 12 month high of $10.07. The firm has a market cap of $2.53 billion, a P/E ratio of -7.29 and a beta of -0.64.
Pandora Media Company Profile
Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora?Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.
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