Albert Fried & Company Cuts Price Target on Pandora (P), Remains Positive on Company's Model
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Price: $108.55 -1.3%
Rating Summary:
10 Buy, 24 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 24 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Albert Fried & Company is maintaining its Market Perform rating on shares of Pandora (NYSE: P), while lowering its price target from $14 to $12. The firm notes shares of P have fallen roughly 50 percent since they initiated coverage on the stock.
The firm reports its lower lower EV/Sales multiple partially reflects the weaker social media IPO market. After posting two solid positive quarters of operating cash flow, Albert Fried & Company notes it is not to late for investors to initiate a position in the company.
Although SPOTIFY recently announced a new streaming service that almost mimics Pandora's, the firm highlights this should give investors more confidence in the company's business model. Sirius XM (Nasdaq: SIRI) and SPOTIFY remain strong competitors against Pandora.
An analyst at Albert Fried & Company comments, "Pandora offers a great service and has a strong revenue growth potential. However, we think great Companies do not always offer attractive returns for equity investors. We have concerns about Pandora’s financial statements in the near term and its long-term ability to monetize its user base."
The firm estimates EPS of ($0.07) and ($0.02) for FY12 and FY13. Revenue for FY12 and FY13 is forecasted to be $274.1 million and $383.2 million.
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 $10.22 yesterday.
The firm reports its lower lower EV/Sales multiple partially reflects the weaker social media IPO market. After posting two solid positive quarters of operating cash flow, Albert Fried & Company notes it is not to late for investors to initiate a position in the company.
Although SPOTIFY recently announced a new streaming service that almost mimics Pandora's, the firm highlights this should give investors more confidence in the company's business model. Sirius XM (Nasdaq: SIRI) and SPOTIFY remain strong competitors against Pandora.
An analyst at Albert Fried & Company comments, "Pandora offers a great service and has a strong revenue growth potential. However, we think great Companies do not always offer attractive returns for equity investors. We have concerns about Pandora’s financial statements in the near term and its long-term ability to monetize its user base."
The firm estimates EPS of ($0.07) and ($0.02) for FY12 and FY13. Revenue for FY12 and FY13 is forecasted to be $274.1 million and $383.2 million.
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 $10.22 yesterday.
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