Barclays Maintains an 'Underweight' on Pandora (P); Feeling Good About Qtr, But Fundamental Challenges Remain
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Price: $16.52 +1.98%
Rating Summary:
16 Buy, 14 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 26 | New: 12
Rating Summary:
16 Buy, 14 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 26 | New: 12
Trade P Now!
Barclays maintains an 'Underweight' on Pandora (NYSE: P) price target of $9.00.
Analyst, Anthony DiClemente, said, that despite coming out of the quarter slightly more positive on the company, there are still fundamental challenges, therefore, UW rating applies.
DiClemente specifically noted solid EPS and guidance, but advertising revenues was slightly below expectations and content acquisition costs de-leveraged by 940bps. Mobile ad monetization hasn't greatly improved either.
All in, Barclays raises FY12 EPS estimate from (0.11) to (0.07) and FY13 from (0.02) to $0.00 (breakeven).
For an analyst ratings summary and ratings history on Pandora click here. For more ratings news on Pandora click here.
Shares of Pandora closed at $10.08 yesterday, with a 52 week range of $7.83-$15.97.
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Analyst, Anthony DiClemente, said, that despite coming out of the quarter slightly more positive on the company, there are still fundamental challenges, therefore, UW rating applies.
DiClemente specifically noted solid EPS and guidance, but advertising revenues was slightly below expectations and content acquisition costs de-leveraged by 940bps. Mobile ad monetization hasn't greatly improved either.
All in, Barclays raises FY12 EPS estimate from (0.11) to (0.07) and FY13 from (0.02) to $0.00 (breakeven).
For an analyst ratings summary and ratings history on Pandora click here. For more ratings news on Pandora click here.
Shares of Pandora closed at $10.08 yesterday, with a 52 week range of $7.83-$15.97.
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