Pandora Media, Inc. (P) saw a big move last session, as the company’s shares fell by over 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $32.53 to $36.07 in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as this broadcasting - radio company has seen 2 negative revisions in the past few weeks. Also, its current year earnings consensus has remained flat over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be
P currently has a Zacks Rank #4 (Sell) while its Earnings ESP is positive.
Some better-ranked stocks in the Internet Services industry include Baidu, Inc. (BIDU), Healthstream Inc. (HSTM) and Limelight Networks, Inc. (LLNW). All these stocks hold a Zacks Rank #2 (Buy).
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