Wall Street brokerages forecast that Pandora Media Inc (NYSE:P) will post sales of $449.04 million for the current fiscal quarter, Zacks reports. Eleven analysts have made estimates for Pandora Media’s earnings. The lowest sales estimate is $432.77 million and the highest is $462.50 million. Pandora Media reported sales of $395.34 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.6%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Pandora Media will report full year sales of $1.56 billion for the current financial year, with estimates ranging from $1.52 billion to $1.58 billion. For the next financial year, analysts expect that the company will post sales of $1.77 billion, with estimates ranging from $1.68 billion to $1.87 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Pandora Media.
Pandora Media (NYSE:P) last released its earnings results on Monday, November 5th. The Internet radio service reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.05. The company had revenue of $417.63 million during the quarter, compared to analysts’ expectations of $400.69 million. Pandora Media had a negative return on equity of 330.21% and a negative net margin of 23.85%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS.
A number of brokerages have issued reports on P. Canaccord Genuity set a $11.00 price objective on Pandora Media and gave the company a “buy” rating in a research note on Sunday, September 23rd. William Blair cut Pandora Media from an “outperform” rating to a “market perform” rating in a research note on Monday, September 24th. Cascend Securities upgraded Pandora Media from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Aegis cut Pandora Media from a “buy” rating to a “hold” rating and set a $8.75 price objective for the company. in a research note on Monday, September 24th. Finally, Needham & Company LLC cut Pandora Media from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $8.31.
In related news, insider S Aimee Lapic sold 9,312 shares of Pandora Media stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $9.01, for a total value of $83,901.12. Following the completion of the sale, the insider now owns 392,876 shares of the company’s stock, valued at $3,539,812.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Karen Sammis Walker sold 3,026 shares of Pandora Media stock in a transaction on Friday, November 16th. The stock was sold at an average price of $8.90, for a total value of $26,931.40. Following the completion of the sale, the chief accounting officer now directly owns 143,580 shares of the company’s stock, valued at approximately $1,277,862. The disclosure for this sale can be found here. Insiders sold 290,023 shares of company stock valued at $2,564,106 in the last 90 days. Company insiders own 0.43% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of P. Vanguard Group Inc. grew its holdings in Pandora Media by 7.7% during the third quarter. Vanguard Group Inc. now owns 23,315,363 shares of the Internet radio service’s stock valued at $221,729,000 after purchasing an additional 1,674,105 shares during the period. Vanguard Group Inc grew its holdings in Pandora Media by 7.7% during the third quarter. Vanguard Group Inc now owns 23,315,363 shares of the Internet radio service’s stock valued at $221,729,000 after purchasing an additional 1,674,105 shares during the period. BlackRock Inc. grew its holdings in Pandora Media by 2.6% during the third quarter. BlackRock Inc. now owns 18,080,889 shares of the Internet radio service’s stock valued at $171,949,000 after purchasing an additional 461,308 shares during the period. Waddell & Reed Financial Inc. grew its holdings in Pandora Media by 1.6% during the second quarter. Waddell & Reed Financial Inc. now owns 12,937,073 shares of the Internet radio service’s stock valued at $101,944,000 after purchasing an additional 205,294 shares during the period. Finally, First Trust Advisors LP grew its holdings in Pandora Media by 1.2% during the third quarter. First Trust Advisors LP now owns 11,839,118 shares of the Internet radio service’s stock valued at $112,590,000 after purchasing an additional 145,119 shares during the period. 97.42% of the stock is owned by institutional investors.
Shares of P traded down $0.03 on Wednesday, reaching $8.59. The stock had a trading volume of 4,459,888 shares, compared to its average volume of 8,259,244. The stock has a market cap of $2.33 billion, a PE ratio of -6.93 and a beta of -0.28. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 4.85. Pandora Media has a 12-month low of $4.09 and a 12-month high of $10.07.
About Pandora Media
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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