Pandora Media Inc (NYSE:P) – Analysts at SunTrust Banks lifted their FY2017 earnings per share (EPS) estimates for Pandora Media in a research note issued to investors on Tuesday. SunTrust Banks analyst M. Thornton now expects that the Internet radio service will earn ($1.12) per share for the year, up from their prior forecast of ($1.13). SunTrust Banks has a “Hold” rating and a $7.00 price objective on the stock. SunTrust Banks also issued estimates for Pandora Media’s Q4 2017 earnings at ($0.21) EPS, Q1 2018 earnings at ($0.41) EPS, Q2 2018 earnings at ($0.27) EPS, Q3 2018 earnings at ($0.22) EPS, Q4 2018 earnings at ($0.18) EPS and FY2018 earnings at ($1.06) EPS.
A number of other research firms have also recently weighed in on P. FBR & Co reaffirmed a “buy” rating and issued a $11.00 price target on shares of Pandora Media in a report on Monday, September 25th. Raymond James Financial reaffirmed a “hold” rating on shares of Pandora Media in a report on Thursday, December 14th. Zacks Investment Research raised Pandora Media from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Piper Jaffray Companies set a $9.00 price target on Pandora Media and gave the stock a “buy” rating in a report on Tuesday, December 12th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price target on shares of Pandora Media in a report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Pandora Media has an average rating of “Hold” and an average target price of $10.83.
Pandora Media (NYSE:P) last issued its quarterly earnings data on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The business had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $380.54 million. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS.
In other news, CEO Roger Lynch sold 78,707 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $4.77, for a total value of $375,432.39. Following the completion of the sale, the chief executive officer now directly owns 701,607 shares in the company, valued at $3,346,665.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Gerbitz sold 9,523 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $5.11, for a total value of $48,662.53. Following the completion of the sale, the executive vice president now owns 316,084 shares of the company’s stock, valued at $1,615,189.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,389 shares of company stock valued at $567,987. 2.59% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. purchased a new position in Pandora Media in the second quarter worth approximately $109,000. Fox Run Management L.L.C. purchased a new position in Pandora Media in the third quarter worth approximately $111,000. Symmetry Peak Management LLC purchased a new position in Pandora Media in the second quarter worth approximately $112,000. Aperio Group LLC purchased a new position in Pandora Media in the second quarter worth approximately $115,000. Finally, Bourgeon Capital Management LLC purchased a new position in Pandora Media in the third quarter worth approximately $115,000.
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.
Receive News & Ratings for Pandora Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media and related companies with MarketBeat.com's FREE daily email newsletter.