Pandora Media Inc Q3 2017 Earnings Results Sink Shares

Pandora Media Inc Q3 2017 Earnings Results Sink Shares”

The stock has "Market Perform" rating by Telsey Advisory Group on Wednesday, March 29.

Pandora Media (NYSE:P) has slid 9.3% in postmarket trading after revenues fell just short in Q3 earnings where nice subscriptions growth nonetheless carried a flat advertising business. The stock had previously closed at $12.83.

Taking a broader look brokerage firms' analysts on the street with an expectant view have Pandora Media Inc (NYSE:P) high price target of $15 and with a conservative view have low price target of $7.5. MKM Partners reissued a "neutral" rating and set a $10.00 price objective on shares of Pandora Media in a report on Wednesday, August 2nd. Finally, Albert Fried & Company reissued a "buy" rating on shares of Pandora Media in a report on Friday, July 8th.

Among 36 analysts covering Texas Instruments (NASDAQ:TXN), 18 have Buy rating, 2 Sell and 16 Hold. FBR & Co's price target would suggest a potential upside of 50.48% from the company's current price. The shares were sold at an average price of $8.42, for a total transaction of $55,049.96. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service's stock valued at $27,758,000 after purchasing an additional 2,737,635 shares in the last quarter. The disclosure for this sale can be found here.

Other analysts have also issued research reports about the company. Asset Management reported 0% in Pandora Media Inc (NYSE:P). Ontario Teachers Pension Plan Board increased its stake in shares of Pandora Media by 0.7% during the second quarter. However the six-month change in the insider ownership was recorded -2.47%, as well as three-month change in the institutional ownership was recorded -9.94%. Marshall Wace North America L.P. increased its stake in shares of Pandora Media by 789.9% during the second quarter. Jackson Square Partners LLC now owns 11,291,361 shares of the Internet radio service's stock valued at $101,057,000 after buying an additional 5,127,147 shares during the period. Finally, State Street Corp increased its stake in shares of Pandora Media by 2.0% during the second quarter.

The company has a 50-day moving average of $13.97 and a 200-day moving average of $12.10. The number of active listeners totaled 73.7 million, excluding 1.1 million listeners in Australia and New Zealand as Pandora Media announced plans to exit its business in those areas.

P shares slumped 11.5% after the bell Thursday on the company's dismal earnings report. RBC Capital Markets downgraded Pandora Media Inc (NYSE:P) on Friday, October 23 to "Sector Perform" rating. As a result, the company's third-quarter earnings of fiscal 2017 came in at a loss, while revenue missed expectations.

Revenue came in at $379 million, below the $380.6 million that Thomson Reuters expected.

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