Estimize CEO Sees Weak Sentiment On Q1 Pandora Media Inc. Fundamentals

Expectations for Pandora Media Inc.'s (NYSE: P) first-quarter results expected after the Bell Thursday have been on a steep downward trend, according to the head of Estimize, a crowd-sourced earnings forecast service."We're seeing falling estimates and not much positive sentiment for Pandora's fundamentals," said Estimize Chief Executive Leigh Drogen.Drogen, who made the comment April 14 during a conference call sponsored by Suntrust Robinson Humphrey on Internet earnings expectations, said Pandora's shares have been buoyed by a recent funding round for Spotify which valued the company at $8.4 billion.Pandora shares gained about 8 percent in the past month and changed hands recently at $17.70, up $0.19 cents.Pandora has beaten the Wall Street consensus in each of the past three quarters, and the average Estimize forecast calls for a first-quarter loss that is 12 percent narrower than the current Wall Street consensus.Thirty-six estimates entered at the Estimize Web site predict on average that Pandora will post an adjusted loss of $0.14 cents a share, on revenue of $226.3 million.Among 30 Wall Street analysts who follow Pandora, the forecast average calls for Pandora to post an adjusted loss of $0.16 cents a share, while revenue will grow nearly 25 percent to $224.6 million.But among analysts, that average estimated loss has widened sharply from $0.5 cents a share three months ago.Drogen noted a similar trend among anonymously posted estimates on the Web site he runs..