Pandora Media, Inc. (NYSE:P).
On June 12 the company was upgraded from “Market Perform” to “Outperform” by FBR Capital. On May 19, 2017 the stock rating was set at “Neutral” according to a Macquarie report which was a cut from the previous “Outperform” rating.
On December 6, 2016 Aegis Capital initiated coverage by announcing an initial rating of “Outperform”. On December 6 the company was upgraded to “Outperform” from “Perform” and a price target of $18.00 was set in an announcement from Oppenheimer.
On October 26 the company was changed to a “Market Perform” by FBR Capital a cut from the previous “Outperform” rating.
The company is so far trading up since yesterday’s close of $8.42. The stock is trading at $8.52 which is slightly below the 50 day moving average of $9.75 and just below the 200 day moving average of $11.76. The 50 day moving average was down by -12.61% and the 200 day average moved down $-3.24.
Pandora Media, Inc. (Pandora), launched on October 19, 2010, 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. The Business’s operating segments include Pandora-Internet Radio Service and Ticketfly. As of December 31, 2016, it provided the Pandora service through two models: advertising-supported service and subscription service-Pandora Plus. The Business’s Ticketfly service is a cloud ticketing platform for live events. For the year ended December 31, 2016, the Company streamed 21.96 billion hours of Internet radio. As of December 31, 2016, it had 81 million active users during the prior 30-day period..
In the last earnings report the EPS was $-1.54 and is expected to be $-0.51 for the current year with 240,358,000 shares now outstanding. Next quarter’s EPS is expected be $-0.07 and the next full year EPS is anticipated to be $-0.16.