Pandora Media, Inc. (NYSE:P) – FBR & Co raised their Q3 2017 earnings per share estimates for Pandora Media in a research report issued on Tuesday. FBR & Co analyst B. Crockett now forecasts that the Internet radio service will post earnings of ($0.20) per share for the quarter, up from their previous estimate 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.

Several other analysts have also commented on the company. Zacks Investment Research lowered Pandora Media from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Pandora Media in a report on Thursday, July 6th. Piper Jaffray Companies set a $13.00 price objective on Pandora Media and gave the company a “buy” rating in a report on Friday, October 6th. Morgan Stanley restated an “overweight” rating and issued a $12.00 target price on shares of Pandora Media in a research note on Wednesday, July 5th. Finally, KeyCorp restated a “hold” rating on shares of Pandora Media in a research note on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Pandora Media presently has an average rating of “Hold” and an average target price of $11.81.

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Pandora Media (NYSE:P) last posted its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $376.83 million during the quarter, compared to analysts’ expectations of $367.51 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The company’s revenue was up 9.9% on a year-over-year basis.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Pandora Media by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 18,059,537 shares of the Internet radio service’s stock valued at $161,092,000 after buying an additional 829,682 shares during the period. First Trust Advisors LP raised its position 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 buying an additional 2,454,296 shares during the period. Ontario Teachers Pension Plan Board raised its position in shares of Pandora Media by 0.7% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 7,046,899 shares of the Internet radio service’s stock valued at $62,858,000 after buying an additional 46,899 shares during the period. Marshall Wace North America L.P. raised its position 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 buying an additional 2,737,635 shares during the period. Finally, State Street Corp raised its position in shares of Pandora Media by 2.0% during the 2nd quarter. State Street Corp now owns 3,009,871 shares of the Internet radio service’s stock valued at $26,850,000 after buying an additional 59,948 shares during the period.

In other news, EVP David Gerbitz sold 9,959 shares of Pandora Media stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $83,854.78. Following the sale, the executive vice president now owns 355,607 shares of the company’s stock, valued at approximately $2,994,210.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Stephen G. Bene sold 6,538 shares of Pandora Media stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $55,049.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,366 shares of company stock worth $564,822. Corporate insiders own 2.59% of the company’s stock.

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.

Earnings History and Estimates for Pandora Media (NYSE:P)

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