B. Riley and Co Preview 2 big technology names ahead of their earnings announcements

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B. Riley & Co. issued commentary on Pandora Media Inc.
P
and Google Inc.
GOOG
ahead of their earnings announcements. Pandora and Google will announce first quarter earnings after markets close on April 23rd. Google: Rating = Buy with a $604 price target. "We expect the company to report results in line with consensus. The biggest headwind for Google is the Euro/GBP decline of 11 percent/6 percent Q/Q in 1Q15 and we could see further downward estimate revisions post results." Analysts at B. Riley and Co. expect gross revenue to increase 11.7 percent year over year driven by an increase of 16.7 percent in clicks/CPC. The increase in revenue however is canceled by an expectation of an increase in advertising spending of 12.6 percent year over year. Pandora Media: Rating = Neutral with a $12.50 price target. "We expect an in line report from Pandora. The focus will be on Active Listener (AL) additions as investors want to see signs that 4Q14 momentum will continue...We expect 2015 guidance to remain unchanged." B. Riley and Co. is expecting 80.3 million active listeners this quarter which is about 1 million less than the fourth quarter of 2014. Further negatives include the uncertainty of returns on recent investments and the CRB rate negotiation settlement. Analysts caution investors that there may be a better time to invest in Pandora. Currently shares of Google Inc. are trading at $535.48, up 0.05 percent. Currently shares of Pandora Media are trading at $17.40, up 0.35 percent.
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