Pandora Media, Inc. (P) Releases Earnings Results
Pandora Media, Inc. (NYSE:P) posted its earnings results on Thursday. The Internet radio service reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02, Bloomberg Earnings reports. The business had revenue of $378.60 million during the quarter, compared to analyst estimates of $380.54 million. Pandora Media had a negative return on equity of 63.80% and a negative net margin of 39.49%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS.
Pandora Media (NYSE:P) traded down $1.81 on Friday, hitting $5.59. The stock had a trading volume of 73,680,805 shares, compared to its average volume of 5,954,956. Pandora Media has a 1 year low of $5.35 and a 1 year high of $14.10. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 1.65.
In related news, EVP David Gerbitz sold 9,959 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $83,854.78. Following the transaction, the executive vice president now owns 355,607 shares of the company’s stock, valued at $2,994,210.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO John Trimble sold 10,547 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $88,805.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,366 shares of company stock worth $564,822. Insiders own 2.59% of the company’s stock.
Several analysts recently commented on P shares. Zacks Investment Research lowered Pandora Media from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Piper Jaffray Companies set a $13.00 price objective on Pandora Media and gave the stock a “buy” rating in a report on Friday, October 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Pandora Media in a report on Thursday, September 14th. KeyCorp reaffirmed a “hold” rating on shares of Pandora Media in a report on Thursday, September 7th. Finally, ValuEngine lowered Pandora Media from a “sell” rating to a “strong sell” rating in a report on Friday, September 22nd. Three investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $11.24.
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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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