Pandora Media Inc(NYSE:P) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 21, 2016. Company reported revenue of $343.02M. Analysts estimated a revenue of $351.49M. Earnings per share were $-0.12. Analysts had estimated an EPS of $-0.16.
In a different note, On Jul 13, 2016, Piper Jaffray said it Upgrades its rating on Pandora Media Inc. The shares have been rated ‘Overweight’ by the firm. On Jun 27, 2016, Morgan Stanley said it Upgrades its rating on Pandora Media Inc. In the research note, the firm Raises the price-target to $11.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jun 14, 2016, Scotiabank said it Upgrades its rating on Pandora Media Inc. The shares have been rated ‘Sector Perform’ by the firm. On Jun 9, 2016, Axiom said it Upgrades its rating on Pandora Media Inc. The shares have been rated ‘Buy’ by the firm. On May 23, 2016, B. Riley said it Upgrades its rating on Pandora Media Inc. The shares have been rated ‘Buy’ by the firm.
Pandora Media Inc (P) shares turned negative on Wednesdays trading session with the shares closing down -0.15 points or -1.20% at a volume of 81,45,762. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.57. The peak price level was also seen at $12.57 while the days lowest was $12.23. Finally the shares closed at $12.35. The 52-week high of the shares is $22.6 while the 52-week low is $7.1. According to the latest information available, the market cap of the company is $2,825 M.
Several Insider Transactions has been reported to the SEC. On Jun 20, 2016, Christopher Douglas Martin (Chief Technology Officer) sold 2,000 shares at $11.19 per share price.Also, On Jun 2, 2016, Timothy Leiweke (director) purchased 10,000 shares at $11.64 per share price.On May 3, 2016, Michael S Herring (CFO) purchased 50,000 shares at $9.21 per share price, according to the Form-4 filing with the securities and exchange commission.
Pandora Media Inc. is a United States-based provider of Internet radio in the United States. The Company offers a personalized experience for each of its listeners wherever and whenever they want to listen to radio on a range of smartphones tablets computers and car audio systems as well as a range of other Internet-connected devices. It allows local and national advertisers to deliver targeted messages to its listeners using a combination of audio display and video advertisements. Its free service is advertising-based and allows listeners access to its music and comedy catalogs and personalized playlist generating system for free across all of its delivery platforms. Pandora One is a paid subscription service without any advertising. Pandora One also offers listeners daily skips audio on supported devices and timeout-free listening. The Company’s technologies include Music Genome Project and Comedy Genome Project.