Q3 2017 EPS Estimates for Pandora Media, Inc. Increased by Wedbush (P)

Pandora Media, Inc. (NYSE:P) – Analysts at Wedbush raised their Q3 2017 earnings estimates for shares of Pandora Media in a research report issued to clients and investors on Monday. Wedbush analyst M. Pachter now forecasts that the Internet radio service will post earnings of ($0.40) per share for the quarter, up from their previous estimate of ($0.41). Wedbush currently has a “Market Perform” rating and a $15.00 target price on the stock. Wedbush also issued estimates for Pandora Media’s FY2017 earnings at ($1.48) EPS, Q1 2018 earnings at ($0.42) EPS, Q2 2018 earnings at ($0.26) EPS, Q3 2018 earnings at ($0.20) EPS and FY2018 earnings at ($1.01) EPS.

Other research analysts have also issued reports about the stock. BMO Capital Markets raised their price target on shares of Pandora Media to $13.00 in a research note on Tuesday, February 21st. Zacks Investment Research raised shares of Pandora Media from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Friday, February 17th. Vetr raised shares of Pandora Media from a “hold” rating to a “buy” rating and set a $14.48 target price on the stock in a research note on Tuesday, February 21st. Canaccord Genuity reissued a “buy” rating and issued a $18.00 target price on shares of Pandora Media in a research note on Thursday, March 30th. Finally, Aegis reissued a “buy” rating on shares of Pandora Media in a research note on Wednesday, March 15th. Two analysts have rated the stock with a sell rating, twenty have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Pandora Media presently has a consensus rating of “Hold” and an average target price of $13.53.

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

TRADEMARK VIOLATION WARNING: This piece was reported by WKRB News and is the sole property of of WKRB News. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://www.wkrb13.com/markets/2229481/q3-2017-eps-estimates-for-pandora-media-inc-increased-by-wedbush-p.html.

Shares of Pandora Media (P) opened at 6.99 on Thursday. The company’s market capitalization is $1.68 billion. Pandora Media has a 52 week low of $6.98 and a 52 week high of $14.98. The firm’s 50-day moving average price is $9.27 and its 200 day moving average price is $11.63.

Pandora Media (NYSE:P) last issued its quarterly earnings data on Monday, May 8th. The Internet radio service reported ($0.37) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.13. Pandora Media had a negative return on equity of 45.15% and a negative net margin of 25.66%. The company had revenue of $316 million for the quarter, compared to analysts’ expectations of $318.15 million. During the same period in the previous year, the firm posted ($0.20) earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis.

In related news, President Michael S. Herring sold 11,730 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total value of $110,027.40. Following the completion of the sale, the president now directly owns 548,230 shares of the company’s stock, valued at $5,142,397.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher Douglas Martin sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,730.00. Following the completion of the sale, the insider now directly owns 272,569 shares of the company’s stock, valued at $2,701,158.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,642 shares of company stock valued at $446,234. 6.64% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Menta Capital LLC acquired a new position in Pandora Media during the fourth quarter worth approximately $425,000. Folger Hill Asset Management LP raised its position in Pandora Media by 127.9% in the fourth quarter. Folger Hill Asset Management LP now owns 572,889 shares of the Internet radio service’s stock worth $7,470,000 after buying an additional 321,552 shares in the last quarter. AlphaOne Investment Services LLC acquired a new position in Pandora Media during the fourth quarter worth approximately $958,000. Pacad Investment Ltd. acquired a new position in Pandora Media during the fourth quarter worth approximately $451,000. Finally, Asset Management One Co. Ltd. raised its position in Pandora Media by 224.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 30,758 shares of the Internet radio service’s stock worth $401,000 after buying an additional 21,283 shares in the last quarter.

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.

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2229481/q3-2017-eps-estimates-for-pandora-media-inc-increased-by-wedbush-p.html

Receive News & Ratings for Pandora Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.