Pandora tumbles after guidance miss but analysts remain upbeat
Shares of music streaming company Pandora (P) are falling after the company reported a slightly higher than expected second quarter profit and in-line revenue, but the midpoint of its third quarter profit guidance came in below analysts' consensus estimate. A number of analysts recommended buying the stock on its weakness today. WHAT'S NEW: Pandora reported second quarter earnings per share of 4c, compared with analysts' consensus estimate of 3c. The company's revenue was in-line with expectations and its total listening hours rose 29% year-over-year. However, the music streaming company provided Q3 EPS guidance of 5c-8c, versus analysts' consensus outlook of 8c. Pandora, however, raised its full-year EPS guidance to 16c-19c from 14c-18c, versus the consensus outlook of 17c. ANALYST REACTION: In a note to investors, Piper Jaffray analyst James Marsh recommended that investors buy Pandora on weakness today. The company is very much on track, as it posted solid listener growth and its monetization is quickly improving, Marsh stated. Pacific Crest analyst Corey Barrett also recommended that investors buy Pandora today. The company's advertising sales per sales employee has risen in each of the past two quarters, versus the same period a year earlier, the analyst wrote. As a result, Barrett is confident that the company can increase its monetization sufficiently to meet its updated 2014 guidance. Barrett kept a $45 price target and Outperform rating on the shares. PRICE ACTION: In mid-afternoon trading, Pandora sank $3.50, or 12%, to $25.
Got longer today via calls. Mobile growth strong, local sales erupting. This is going higher or will be bought out...watch and see....
I hope its still around. I listen to it all the time. I've tried Apple's and Google's version but they are terrible compared to P. Google Play is cool because you can choose exactly what you want to listen too, like Spotify, but the "radio" part of it isn't very good. Plus it cost $10 a month. I still prefer Pandora when I just want to listen to music without worrying about having to choose what I want to listen too. Great while in the car or just relaxing at home. What competitors are better?
All of this takedown on what? Because consensus 3rd Qtr was .08 and Management guided .05-.08. Did you ever get the feeling the fix was in and Pandora management threw the Hedgies the nugget they needed to have an excuse to short. They beat on revenues and on eps and still got taken to the woodshed.
and thats not because of a buyout. there are better competitors and models than this. kids just listen to music on youtube nowadays this is going DOWNNN
S have to admit that I was surprised on the results. Following Facebook I thought they would get some acceleration going but instead get the opposite. For the valuation this is at and the results this sees the teens sooner than later. Unfortunately I was on the sidelines but this company leaves a lot of questions going forward and my guess the street is getting impatient with this!
Go sell snow to the eskimos somewhere else, you ridiculous Pandora, Dow, and Nasdaq BASHER SHILLS, acting in service to the Pandora, Dow, and Nasdaq PUT WRITERS in the slimy wall street club! There is NOT one single smarter pro trader who is being CONNED today into buying a single ultimately WORTHLESS Pandora, Dow, and Nasdaq PUT....only the brain dead amateur fools need apply for even more WORTHLESS Pandora, Dow, and Nasdaq PUTS, given the ongoing Pandora, Dow, and Nasdaq SUPER BULL market, 100% CERTAIN to continue for years to come.
Reason: these obama markets trade in established trading patterns identical to the clinton markets, given that the same market riggers (and their proxies) control the obama markets today---and that means the ongoing Pandora, Dow, and Nasdaq SUPER BULL must sustain for at least another FOUR YEARS....and Pandora, Dow, and Nasdaq 100% CERTAIN to close 2014 at new ALL TIME HIGHS!!!