Barclays Still Sees Pandora (P) Struggling to Profitability; Maintains 'Underweight'
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Price: $16.20 --0%
Rating Summary:
17 Buy, 13 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 20 | New: 11
Rating Summary:
17 Buy, 13 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 20 | New: 11
Trade P Now!
Barclays maintains an 'Underweight' on Pandora (NYSE: P) price target raised $1 to $9.
Analyst, Anthony DiClemente, said, "While results indicate P is gaining traction with advertisers, it continues to lose money as PF net loss grew driven by content acquisition costs, which represented 69% of revenue, up 1200 bps Y/Y. While P's brand and offering are strong, we think profitability will remain a struggle given the continued shift to mobile listening. Our thesis remains intact as P is seeing negative leverage on content acquisition costs and continued softness in mobile pricing."
DiClemente raises FY12 EPS loss from -0.16 to -0.11 and FY13 from -0.10 to -0.02.
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 $10.33 yesterday, with a 52 week range of $7.83-$26.00.
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Analyst, Anthony DiClemente, said, "While results indicate P is gaining traction with advertisers, it continues to lose money as PF net loss grew driven by content acquisition costs, which represented 69% of revenue, up 1200 bps Y/Y. While P's brand and offering are strong, we think profitability will remain a struggle given the continued shift to mobile listening. Our thesis remains intact as P is seeing negative leverage on content acquisition costs and continued softness in mobile pricing."
DiClemente raises FY12 EPS loss from -0.16 to -0.11 and FY13 from -0.10 to -0.02.
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 $10.33 yesterday, with a 52 week range of $7.83-$26.00.
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