Pandora Media, Inc. (NYSE:P) - Investment analysts at SunTrust Banks raised their Q3 2017 earnings per share (EPS) estimates for Pandora Media in a research note issued to investors on Monday. SunTrust Banks analyst M. Thornton now forecasts that the Internet radio service will post earnings of ($0.24) per share for the quarter, up from their previous forecast of ($0.27). SunTrust Banks currently has a “Buy” rating and a $10.50 price objective on the stock. SunTrust Banks also issued estimates for Pandora Media’s Q4 2017 earnings at ($0.12) EPS and FY2017 earnings at ($1.08) EPS.
Pandora Media (NYSE:P) last released its quarterly earnings data on Monday, May 8th. The Internet radio service reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. Pandora Media had a negative return on equity of 45.15% and a negative net margin of 25.66%. The company had revenue of $316 million for the quarter, compared to analyst estimates of $318.15 million. During the same period in the previous year, the company posted ($0.20) EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year.
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Several other equities analysts also recently weighed in on P. Canaccord Genuity reiterated a “buy” rating and set a $18.00 target price on shares of Pandora Media in a research report on Thursday, March 30th. BMO Capital Markets reiterated a “hold” rating and set a $13.00 target price on shares of Pandora Media in a research report on Monday, April 17th. Stifel Nicolaus reiterated a “buy” rating and set a $15.00 target price on shares of Pandora Media in a research report on Wednesday, April 19th. B. Riley reiterated a “buy” rating and set a $15.00 target price on shares of Pandora Media in a research report on Tuesday, May 9th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $15.00 target price (down from $16.00) on shares of Pandora Media in a research report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $12.94.
Shares of Pandora Media (NYSE P) opened at 9.65 on Wednesday. Pandora Media has a 1-year low of $6.76 and a 1-year high of $14.98. The company’s 50 day moving average price is $8.64 and its 200-day moving average price is $10.79. The company’s market capitalization is $2.32 billion.
In related news, insider Christopher Douglas Martin sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $9.91, for a total value of $29,730.00. Following the completion of the sale, the insider now owns 272,569 shares in the company, valued at $2,701,158.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stephen G. Bene sold 6,161 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total value of $57,790.18. Following the completion of the sale, the general counsel now owns 272,060 shares of the company’s stock, valued at approximately $2,551,922.80. The disclosure for this sale can be found here. Insiders sold 43,642 shares of company stock valued at $411,284 in the last quarter. 2.59% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Usca Ria LLC acquired a new position in shares of Pandora Media during the first quarter worth approximately $393,000. Great West Life Assurance Co. Can increased its position in shares of Pandora Media by 35.2% in the first quarter. Great West Life Assurance Co. Can now owns 27,248 shares of the Internet radio service’s stock worth $321,000 after buying an additional 7,100 shares during the period. Kornitzer Capital Management Inc. KS increased its position in shares of Pandora Media by 8.1% in the first quarter. Kornitzer Capital Management Inc. KS now owns 1,966,970 shares of the Internet radio service’s stock worth $23,230,000 after buying an additional 147,350 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Pandora Media by 32.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,757,185 shares of the Internet radio service’s stock worth $20,752,000 after buying an additional 432,760 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Pandora Media during the first quarter worth approximately $239,000.
Pandora Media Company Profile
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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