Dougherty & Co reiterates a 'Sell' on Pandora (P); Usage Isn’t the Issue, Monetization Is

March 7, 2012 9:33 AM EST Send to a Friend
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Dougherty & Co reiterates a 'Sell' on Pandora (NYSE: P) price target of $8.00.

Analyst, Steve Frankel, said, "We believe Pandora offers a great service for consumer that addictive and perfect for mobile. However, monetizing the rapidly growing mobile inventory is likely to remain a significant challenge until the company can further build out its sales force and offer better integration into the purchasing and monitoring systems employed by radio advertisers today. With a current market capitalization over $2B and our forecast of just $20.9M in Adjusted EBITDA in CY13, the shares are too expensive and we reiterating our Sell rating and $8 price target."

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 $14.27 yesterday.


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