SunTrust's Peck Previews Pandora Results: Expecting Upside To Users, Hours

On March 28, Pandora Media Inc P reaffirmed its 1Q guidance at the high end of the previous guidance range.

Robert "Bob" S. Peck of SunTrust Robinson Humphrey maintains a Neutral rating on the company

Upside Expected

Peck mentioned that Triton data suggested there could be upside to the 1Q users and hours metrics, driven by enhanced listener hours.

Related Link: Bob Peck Cautiously Optimistic On LinkedIn Ahead Of Q1 Earnings

Listener hours were in turn driven by “an extra day in February (leap year) and the shutdown of iTunes Radio in late January,” the analyst stated.

Peck also believes the consensus forecasts for users and hours for the full year appear attainable.

The analyst expects Pandora Media to at least reaffirm its full-year guidance.

“With sentiment tepid (high short interest), we expect a positive reaction near term,” Peck added.