Wall Street brokerages forecast that Pandora Media Inc (NYSE:P) will announce sales of $399.71 million for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Pandora Media’s earnings. The highest sales estimate is $408.00 million and the lowest is $393.90 million. Pandora Media reported sales of $378.64 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.6%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.
On average, 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 anticipate that the firm will post sales of $1.74 billion, with estimates ranging from $1.64 billion to $1.82 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Pandora Media.
Pandora Media (NYSE:P) last posted its 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. The company had revenue of $384.79 million during the quarter, compared to analyst estimates of $373.61 million. Pandora Media had a negative return on equity of 243.61% and a negative net margin of 24.14%.
Several equities analysts have recently weighed in on the company. B. Riley lifted their price objective on Pandora Media from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Wedbush set a $10.00 price objective on Pandora Media and gave the company a “buy” rating in a report on Wednesday, August 1st. Canaccord Genuity set a $10.00 price objective on Pandora Media and gave the company a “buy” rating in a report on Wednesday, August 1st. Zacks Investment Research upgraded Pandora Media from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a report on Saturday, August 4th. Finally, Raymond James cut Pandora Media from a “strong-buy” rating to a “market perform” rating and set a $11.00 price objective on the stock. in a report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $8.32.
Shares of Pandora Media stock traded up $0.09 during trading on Monday, hitting $9.04. 8,942,092 shares of the company were exchanged, compared to its average volume of 9,813,991. Pandora Media has a 1-year low of $4.09 and a 1-year high of $10.07. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 2.76. The firm has a market capitalization of $2.53 billion, a P/E ratio of -7.29 and a beta of -0.64.
In other Pandora Media news, CRO John Trimble sold 100,577 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $8.02, for a total transaction of $806,627.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO David Gerbitz sold 36,577 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $8.16, for a total value of $298,468.32. Following the transaction, the chief operating officer now directly owns 574,617 shares in the company, valued at approximately $4,688,874.72. The disclosure for this sale can be found here. Insiders sold a total of 180,890 shares of company stock worth $1,461,155 in the last 90 days. Company insiders own 0.43% of the company’s stock.
Large investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its position in shares of Pandora Media by 69.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,328,849 shares of the Internet radio service’s stock worth $10,472,000 after purchasing an additional 546,076 shares during the last quarter. Castleark Management LLC acquired a new position in shares of Pandora Media during the 2nd quarter worth approximately $5,103,000. Canada Pension Plan Investment Board acquired a new position in shares of Pandora Media during the 2nd quarter worth approximately $2,452,000. Point72 Hong Kong Ltd increased its position in shares of Pandora Media by 1,540.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 200,000 shares of the Internet radio service’s stock worth $1,576,000 after purchasing an additional 187,809 shares during the last quarter. Finally, DSAM Partners London Ltd acquired a new position in shares of Pandora Media during the 2nd quarter worth approximately $3,112,000.
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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