Pandora Founder Tim Westergren Is Now An 'Underestimated' CEO, Albert Fried Says
Over the last few weeks, Pandora Media Inc (NYSE: P) shares have rallied about 11 percent from a recent low around $8.15 as of April 11 to close at $9.45 Wednesday.
Traders have been anticipating the company's first-quarter results, expected out Thursday afternoon.
The sell-side estimate suggests Pandora will post a quarterly loss of $0.32 per share on sales of just over $336 million.
For investors who will be eagerly waiting for the results, Pandora has historically published earnings around 4:02 p.m. EDT.
A notable analyst in the name, Albert Fried's Rich Tullo, offered his thoughts ahead of the print.
"The CEO change does send some mixed messages negative and positive," Tullo highlighted.
The analyst referred to a March 28 news item in which Pandora named founder Tim Westergren the new CEO. In addition, Mike Herring was named President and CFO, Sara Clemens was named COO, and Chris Phillips was appointed Chief Product Officer.
"However [with the stock] near the 52-week low, we prefer to focus on the upside. As we talk to clients, we think Tim Westergren is now a CEO that is underestimated and...could be positive for shareholders," according to Tullo.
Latest Ratings for P
|Jan 2017||Barrington Research||Downgrades||Market Outperform||Market Perform|
|Dec 2016||Aegis Capital||Initiates Coverage On||Buy|
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