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Pandora Analyst Roundup

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Pandora Media Inc (NYSE: P) reported Q3 2014 earnings Thursday, posting earnings of $0.09 per share on $239.6 million in revenue. Analysts had been expecting earnings of $0.08 per share on $236.5 million in revenue.

Analysts updated coverage on the company.

Barrington Research (Jeff Houston): Outperform, Price Target $41

"We maintain our OUTPERFORM investment rating and $41 price target. Pandora will continue to improve mobile monetization, while posting significant growth in
listener hours, advertising/subscription revenue, active users (mostly as it enters newgeographies)."

Credit Suisse (Stephen Ju): Neutral, Price Target $30

"While we remain optimistic that Pandora can eventually drive advertising revenues to reflect its listening hour share of the US radio market, longer term cost uncertainty from upcoming consumer marketing efforts as well as the pending CRB rate reset hold us back from a more favorable stance at this time. As such, we maintain our Neutral investment rating and $30 target price."

Morgan Stanley (Benjamin Swinburne): Equal-Weight, Price Target $25

"3Q financials, 4Q guide, and rising monetization all met expectations. However, further user growth deceleration leads us to lower our LT listening hours forecast, taking our PT from $27 to $25. Remain EW, see only modest upside until P shows an ability to stabilize or reaccelerate user growth."

SunTrust : Buy, Price Target $30

"Maintain Buy, Target To $30 Per Market Multiple Contraction. Our Buy rating is predicated on attractive valuation and significant optionality around Int'l, spoken word/proprietary content, and audio/radio ad tech. Pandora could also be an acquisition target (post CRB decision) given its user base (mobile), engagement, scale, and data. We lower our year-end 2015 price target to $30 from $34 based on target multiples contraction."

Latest Ratings for P

DateFirmActionFromTo
Jan 2018Morgan StanleyDowngradesOverweightEqual-Weight
Dec 2017Evercore ISI GroupInitiates Coverage OnIn-Line
Nov 2017BMO CapitalUpgradesMarket PerformOutperform

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Posted-In: Barrington Ressearch Credit Suisse Morgan Stanley SunTrustAnalyst Color Earnings Price Target Analyst Ratings

 

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