Pandora Media (NYSE:P) released its quarterly earnings data on Monday. The Internet radio service reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.05, Briefing.com reports. Pandora Media had a negative net margin of 24.14% and a negative return on equity of 243.61%. The business had revenue of $417.63 million during the quarter, compared to the consensus estimate of $400.69 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The business’s revenue was up 10.3% on a year-over-year basis.
Pandora Media stock traded up $0.14 during midday trading on Tuesday, reaching $8.79. The stock had a trading volume of 78,894 shares, compared to its average volume of 8,192,514. The company has a debt-to-equity ratio of 2.76, a current ratio of 2.73 and a quick ratio of 2.73. Pandora Media has a 52-week low of $4.09 and a 52-week high of $10.07. The firm has a market capitalization of $2.31 billion, a P/E ratio of -7.11 and a beta of -0.42.
In other Pandora Media news, CRO John Trimble sold 100,577 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $8.02, for a total value of $806,627.54. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Karen Sammis Walker sold 16,528 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $8.11, for a total transaction of $134,042.08. Following the completion of the transaction, the insider now owns 701,007 shares in the company, valued at $5,685,166.77. The disclosure for this sale can be found here. Insiders sold a total of 180,890 shares of company stock worth $1,461,155 over the last three months. 0.43% of the stock is currently owned by corporate insiders.
P has been the subject of several research reports. Nomura initiated coverage on shares of Pandora Media in a report on Tuesday, July 10th. They set a “neutral” rating and a $8.00 price objective for the company. ValuEngine cut shares of Pandora Media from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Zacks Investment Research cut shares of Pandora Media from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Wedbush set a $10.00 target price on shares of Pandora Media and gave the company a “buy” rating in a research report on Thursday, July 26th. Finally, Royal Bank of Canada upgraded shares of Pandora Media from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $8.23.
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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 PandoraAd-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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