Analysts expect that Pandora Media, Inc. (NYSE:P) will report sales of $381.43 million for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Pandora Media’s earnings. The lowest sales estimate is $376.19 million and the highest is $387.20 million. Pandora Media posted sales of $351.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.4%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Pandora Media will report full year sales of $381.43 million for the current financial year, with estimates ranging from $1.46 billion to $1.54 billion. For the next year, analysts forecast that the company will post sales of $1.67 billion per share, with estimates ranging from $1.50 billion to $1.89 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Pandora Media.
Pandora Media (NYSE:P) last released its earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.08. The firm had revenue of $376.83 million during the quarter, compared to the consensus estimate of $367.51 million. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) earnings per share.
Several research firms have recently commented on P. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $13.00 price target (down from $16.00) on shares of Pandora Media in a research note on Monday, June 12th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target on shares of Pandora Media in a research note on Monday, June 12th. Canaccord Genuity decreased their price target on shares of Pandora Media from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, June 12th. Piper Jaffray Companies set a $18.00 price target on shares of Pandora Media and gave the company a “buy” rating in a research note on Saturday, June 10th. Finally, Bank of America Corporation reissued a “buy” rating and set a $12.00 price target on shares of Pandora Media in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Pandora Media currently has an average rating of “Hold” and an average price target of $12.07.
In related news, EVP David Gerbitz sold 9,959 shares of Pandora Media stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $83,854.78. Following the completion of the sale, the executive vice president now owns 355,607 shares of the company’s stock, valued at approximately $2,994,210.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stephen G. Bene sold 6,538 shares of Pandora Media stock in a transaction dated Wednesday, August 16th. The stock was 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. Insiders have sold a total of 67,366 shares of company stock valued at $564,822 in the last ninety days. 2.59% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Falcon Point Capital LLC bought a new stake in Pandora Media in the 2nd quarter valued at about $102,000. Prudential Financial Inc. bought a new stake in Pandora Media in the 2nd quarter valued at about $109,000. Symmetry Peak Management LLC bought a new stake in Pandora Media in the 2nd quarter valued at about $112,000. Aperio Group LLC bought a new stake in Pandora Media in the 2nd quarter valued at about $115,000. Finally, Virtu Financial LLC bought a new stake in Pandora Media in the 2nd quarter valued at about $121,000.
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Shares of Pandora Media (P) opened at 8.12 on Monday. The firm’s market capitalization is $1.97 billion. Pandora Media has a 52-week low of $6.76 and a 52-week high of $14.94. The firm has a 50-day moving average price of $8.39 and a 200-day moving average price of $9.65.
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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