Pandora Media Inc (P) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $-0.20 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $-0.30. The company posted revenue of $297.31 million in the period, compared to analysts expectations of $285.23 million. The company’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 EPS.
Many Wall Street Analysts have commented on Pandora Media Inc. Pandora Media Inc was Downgraded by Raymond James to ” Mkt Perform” on Apr 19, 2016. Citigroup Initiated Pandora Media Inc on Apr 12, 2016 to “Buy”, Price Target of the shares are set at $16.Mizuho Initiated Pandora Media Inc on Mar 30, 2016 to “Neutral”, Price Target of the shares are set at $10.
Pandora Media Inc opened for trading at $9.35 and hit $9.61 on the upside on Wednesday, eventually ending the session at $9.45, with a gain of 0.75% or 0.07 points. The heightened volatility saw the trading volume jump to 85,62,038 shares. Company has a market cap of $2,152 M.
In a different news, on Mar 17, 2016, Christopher Douglas Martin (Chief Technology Officer) sold 2,000 shares at $9.80 per share price. According to the SEC, on Sep 18, 2015, Simon Fleming-wood (Chief Marketing Officer) sold 8,871 shares at $19.15 per share price. On May 29, 2015, David L Sze (director) sold 30,000 shares at $18.99 per share price, according to the Form-4 filing with the securities and exchange commission.
Pandora Media Inc. is a United States-based provider of Internet radio in the United States. The Company offers a personalized experience for each of its listeners wherever and whenever they want to listen to radio on a range of smartphones tablets computers and car audio systems as well as a range of other Internet-connected devices. It allows local and national advertisers to deliver targeted messages to its listeners using a combination of audio display and video advertisements. Its free service is advertising-based and allows listeners access to its music and comedy catalogs and personalized playlist generating system for free across all of its delivery platforms. Pandora One is a paid subscription service without any advertising. Pandora One also offers listeners daily skips audio on supported devices and timeout-free listening. The Company’s technologies include Music Genome Project and Comedy Genome Project.