So What's Wedbush Listening To At Pandora?
Wedbush on Thursday previewed Pandora Media Inc (NYSE: P) ahead of its earnings results on February 5. The firm maintained an Outperform rating and $35 price target.
Analysts Michael Pachter, Nick McKay and Alicia Reese wrote, “We expect Pandora to meet or exceed the high-end of Q4 EPS guidance driven by strong audience metrics and increased local advertising.”
Pandora is showing signs of operating leverage in its business operations. Mobile advertising now accounts for 78 percent of total advertising revenue with 84 percent of total listener hours occurring on smartphones. With the trend of users using their mobile devices more often, along with more frequent advertising delivery, the analysts believe that the company's operating leverage should improve as revenues grow.
Analysts are expecting revenues of $276.3 million and EPS of $0.18.
Pandora closed Thursday at $16.87, up 0.57 percent.
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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