Analysts Set Expectations for Pandora Media Inc.’s Q2 2017 Earnings (P)

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Pandora Media Inc. (NYSE:P) – Wedbush lowered their Q2 2017 earnings estimates for Pandora Media in a report issued on Tuesday. Wedbush analyst M. Pachter now forecasts that the brokerage will post earnings of ($0.23) per share for the quarter, down from their previous estimate of ($0.21). Wedbush currently has a “Buy” rating and a $15.00 target price on the stock. Wedbush also issued estimates for Pandora Media’s Q3 2017 earnings at ($0.13) EPS.
Pandora Media (NYSE:P) last released its quarterly earnings data on Thursday, July 21st. The Internet radio service reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $343 million for the quarter, compared to the consensus estimate of $351.48 million. Pandora Media had a negative return on equity of 25.53% and a negative net margin of 23.04%.
A number of other equities research analysts have also issued reports on the company. Macquarie reaffirmed an “outperform” rating and set a $17.00 target price (up from $16.00) on shares of Pandora Media in a research report on Monday, August 29th. MKM Partners lifted their price target on Pandora Media from $23.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, August 25th. FBR & Co reiterated an “outperform” rating and set a $16.00 price target on shares of Pandora Media in a report on Tuesday, August 23rd. Piper Jaffray Cos. set a $18.00 price target on Pandora Media and gave the company a “buy” rating in a report on Friday, August 19th. Finally, Mizuho reiterated a “neutral” rating and set a $11.00 price target on shares of Pandora Media in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Pandora Media has an average rating of “Buy” and an average target price of $16.08.

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Pandora Media (NYSE:P) traded up 1.089% during trading on Friday, hitting $13.455. The stock had a trading volume of 2,677,198 shares. The firm’s 50 day moving average is $13.73 and its 200 day moving average is $11.50. Pandora Media has a 1-year low of $7.10 and a 1-year high of $22.60. The firm’s market cap is $3.11 billion.
In other Pandora Media news, insider Christopher Douglas Martin sold 2,000 shares of Pandora Media stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $13.60, for a total value of $27,200.00. Following the sale, the insider now owns 344,470 shares of the company’s stock, valued at approximately $4,684,792. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher W. Phillips sold 12,274 shares of Pandora Media stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $12.15, for a total value of $149,129.10. Following the completion of the sale, the insider now directly owns 288,878 shares in the company, valued at approximately $3,509,867.70. The disclosure for this sale can be found here. Corporate insiders own 6.64% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. increased its stake in Pandora Media by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,032,903 shares of the Internet radio service’s stock valued at $45,044,000 after buying an additional 110,180 shares in the last quarter. LPL Financial LLC increased its stake in Pandora Media by 8.6% in the first quarter. LPL Financial LLC now owns 146,558 shares of the Internet radio service’s stock valued at $1,316,000 after buying an additional 11,630 shares in the last quarter. BlackRock Inc. increased its stake in Pandora Media by 308.2% in the first quarter. BlackRock Inc. now owns 25,287 shares of the Internet radio service’s stock valued at $227,000 after buying an additional 19,093 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Pandora Media during the first quarter valued at about $600,000. Finally, TIAA CREF Investment Management LLC increased its stake in Pandora Media by 0.3% in the first quarter. TIAA CREF Investment Management LLC now owns 639,383 shares of the Internet radio service’s stock valued at $5,722,000 after buying an additional 1,708 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.

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