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News Breaks
July 25, 2014
13:42 EDTPPandora tumbles after guidance miss but analysts remain upbeat
Shares of music streaming company Pandora (P) are falling after the company reported a slightly higher than expected second quarter profit and in-line revenue, but the midpoint of its third quarter profit guidance came in below analysts' consensus estimate. A number of analysts recommended buying the stock on its weakness today. WHAT'S NEW: Pandora reported second quarter earnings per share of 4c, compared with analysts' consensus estimate of 3c. The company's revenue was in-line with expectations and its total listening hours rose 29% year-over-year. However, the music streaming company provided Q3 EPS guidance of 5c-8c, versus analysts' consensus outlook of 8c. Pandora, however, raised its full-year EPS guidance to 16c-19c from 14c-18c, versus the consensus outlook of 17c. ANALYST REACTION: In a note to investors, Piper Jaffray analyst James Marsh recommended that investors buy Pandora on weakness today. The company is very much on track, as it posted solid listener growth and its monetization is quickly improving, Marsh stated. Pacific Crest analyst Corey Barrett also recommended that investors buy Pandora today. The company's advertising sales per sales employee has risen in each of the past two quarters, versus the same period a year earlier, the analyst wrote. As a result, Barrett is confident that the company can increase its monetization sufficiently to meet its updated 2014 guidance. Barrett kept a $45 price target and Outperform rating on the shares. PRICE ACTION: In mid-afternoon trading, Pandora sank $3.50, or 12%, to $25.
News For P From The Last 14 Days
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September 1, 2015
11:51 EDTPPandora announces service to be ad-free on September 9
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August 31, 2015
09:09 EDTPMP Associates to hold a conference
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August 27, 2015
10:31 EDTPPandora calls active
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10:23 EDTPRumor: Pandora moves up on renewed takeover chatter
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August 19, 2015
09:05 EDTPPandora price target raised to $25 from $20 at Rosenblatt
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