New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

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
Sign up for a free trial to see the rest of the stories you've been missing.
June 29, 2015
08:38 EDTPConcerns over Pandora competition significantly overdone, says Sterne Agee CRT
Subscribe for More Information
June 28, 2015
14:24 EDTPApple Music 'unlikely to move earnings needle,' Barron's says
Subscribe for More Information
June 25, 2015
08:49 EDTPPandora music business progressing nicely, says Canaccord
Subscribe for More Information
June 24, 2015
09:30 EDTPGoogle competing with itself after unveiling free music service, Bloomberg says
Subscribe for More Information
June 23, 2015
12:08 EDTPPandora down 1% after Google launches free music service
Subscribe for More Information
12:05 EDTPGoogle launches free, ad-supported music service in U.S.
Google (GOOG) announced via a blob post that Google Play Music now has a "free, ad-supported version" in the U.S. It stated, "Our team of music experts, including the folks who created Songza, crafts each station song by song so you donít have to. If youíre looking for something specific, you can browse our curated stations by genre, mood, decade or activity, or you can search for your favorite artist, album or song to instantly create a station of similar music." Shares of Pandora (P) ticked lower following Google's announcement.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use