Pandora Media Inc (NYSE:P) – Investment analysts at Oppenheimer lifted their Q3 2018 earnings per share estimates for shares of Pandora Media in a report issued on Wednesday, August 1st. Oppenheimer analyst J. Helfstein now forecasts that the Internet radio service will post earnings of ($0.23) per share for the quarter, up from their prior estimate of ($0.24). Oppenheimer also issued estimates for Pandora Media’s Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at ($1.01) EPS, FY2019 earnings at ($0.68) EPS and FY2020 earnings at ($0.31) EPS.
A number of other brokerages also recently weighed in on P. Zacks Investment Research raised shares of Pandora Media from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. ValuEngine raised shares of Pandora Media from a “sell” rating to a “hold” rating in a research note on Monday, July 16th. Barrington Research raised shares of Pandora Media from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 1st. B. Riley boosted their target price on shares of Pandora Media from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Finally, Credit Suisse Group boosted their target price on shares of Pandora Media from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.85.
Pandora Media (NYSE:P) last issued its earnings results on Tuesday, July 31st. The Internet radio service reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.12. Pandora Media had a negative net margin of 24.14% and a negative return on equity of 243.61%. The business had revenue of $384.79 million for the quarter, compared to analyst estimates of $373.61 million.
In related news, insider Kristen Robinson sold 43,411 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $7.44, for a total transaction of $322,977.84. Following the completion of the sale, the insider now directly owns 742,416 shares of the company’s stock, valued at $5,523,575.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Stephen G. Bene sold 6,574 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $7.40, for a total transaction of $48,647.60. Following the sale, the general counsel now directly owns 604,241 shares of the company’s stock, valued at $4,471,383.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,810 shares of company stock valued at $731,164. 0.43% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of P. Point72 Asset Management L.P. increased its stake in Pandora Media by 91.0% in the first quarter. Point72 Asset Management L.P. now owns 7,199,893 shares of the Internet radio service’s stock valued at $36,215,000 after purchasing an additional 3,430,893 shares in the last quarter. Cove Street Capital LLC bought a new stake in Pandora Media in the first quarter valued at approximately $14,605,000. Gamco Investors INC. ET AL increased its stake in Pandora Media by 130.4% in the first quarter. Gamco Investors INC. ET AL now owns 2,894,800 shares of the Internet radio service’s stock valued at $14,561,000 after purchasing an additional 1,638,609 shares in the last quarter. Millennium Management LLC bought a new stake in Pandora Media in the first quarter valued at approximately $6,045,000. Finally, Blair William & Co. IL increased its stake in Pandora Media by 4,461.2% in the first quarter. Blair William & Co. IL now owns 557,382 shares of the Internet radio service’s stock valued at $2,804,000 after purchasing an additional 545,162 shares in the last quarter.
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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