FBN Securities Raises Price Target on Pandora (P) to $15 Following 4Q Preannouncement

Pre-Open Stock Movers 01/13: (DXCM) (SN) (P) Higher; (URRE) (SKLN) (GME) Lower (more...)

Today's Pre-Open Movers

Naked Brand Group Inc. (NASDAQ: NAKD) 87.5% HIGHER; The company and Bendon Limited, a global leader in intimate apparel and swimwear renowned for best in category technology and design throughout its 70 year history, announced today that they have entered into a Letter of Intent for a proposed merger of the... More

Instinet On Pandora (P) Preannouncement : "We Remain In Wait-And-See Mode"

Instinet Neutral Pandora (NYSE: P) price target of $14.00

Analyst Anthony DiClemente comments "Last night, Pandora provided an update to 4Q guidance, stating that it expects revenue and EBITDA to surpass the guidance ranges laid out during its 3Q earnings report in October, owing to... More

Sirius XM (SIRI) Said Still Interested in Pandora (P) - NYP

Sirius XM (NASDAQ: SIRI) is still interested in acquiring Pandora (NYSE: P), according to a report in the New York Post, citing comments from Chairman Gregory Maffaei.

The report also said Pandora is working with investment bank Centerview Partners to study strategic alternatives.

Pandora (P): Preannouncement Is Substantial Surprise - FBR

FBR Capital analyst, Barton Crockett, reiterated his Market Perform rating on Pandora (NYSE: P) but raised his PT to $14 after the company preannounced upside in 4Q16, cost cutting, and a rosier outlook for 2017 than expected. Revenue is expected to be between $362M$374M and... More

Citigroup Positive On Pandora (P), Says "Expect Positive Adj. EBITDA In 2017"

Citi maintains Buy on Pandora (NYSE: P), keeps price target of $16.00.

Citigroup analyst Mark Kelley comments "Were not surprised by the increase in subs; weve interpreted Triton data as a sign that ~3M ad-based users were in Plus trials, which equates to 12%... More

Pandora Premium Launch Will Be Key To Monitor - Morgan Stanley

Morgan Stanley maintains Overweight on Pandora (NYSE: P), keeps price target of $15.00.

Morgan Stanley analyst Ben Swinburne comments "Pandora added more than 375K net new paying Plus subscribers in Q4 (modestly below our estimate of ~500K sequential additions). Nearly 70% of new subscribers came through in-app purchases, highlighting the power of Pandora's platform to drive cross-/upsells, while... More

Mizuho On Pandora: Preannouncement Was Positive But 2017 Strategy Outline Is Critical

Mizuho Securities maintains Neutral on Pandora (NYSE: P), keeps price target of $12.00.

Analyst Neil Doshi says "Pandora announced it would exceed its previous 4Q revenue guidance of $362-$374m, which is better than MSUSA/Street expectations of $370m/$369m. The company also... More

Pandora Still Has Upside, Leverage To Be Driver Of Profitability - Goldman

Goldman Sachs maintains Conviction on Buy Pandora (NYSE: P), keeps price target of $18.00.

On Thursday Pandora announced plans to reduce its U.S. employee base (excluding Ticketfly) by approximately 7 percent by the end of Q1 2017. The firms also expects to beat Q4 revenue... More

After-Hours Stock Movers 01/12: (P) (NVLS) Higher; (WPX) (TWO) Lower (more...)

Today's After-Hours Movers

Pandora (NYSE: P) 7% HIGHER; announced today it expects to exceed previously announced Q4 2016 revenue and adjusted EBITDA guidance ranges given strong advertising performance and has surpassed 4.3 million in paid subscription customers. Pandora is also undertaking operational efficiency measures to reduce overall operating costs in 2017. It plans to reduce its U.S. employee base (excluding Ticketfly) by approximately 7... More

Pandora (P) Sees Beating Q4 Guidance, to Reduce Employee Base

Pandora (NYSE: P) announced today it expects to exceed previously announced Q4 2016 revenue and adjusted EBITDA guidance ranges1 given strong advertising performance and has surpassed 4.3 million in paid subscription customers.

During the fourth quarter, we accelerated our core advertising business, increased advertising RPM and saw strong improvements in adjusted EBITDA, said Tim Westergren, CEO of Pandora. Now, with all of the elements of our strategy in place, we are in the best position possible to expand our listener base, drive engagement and deliver significant value to all of our... More

Macquarie Calls Sirius XM (SIRI) Balance Sheet 'Fierce', Discusses Pandora (P) Takeover Potential

Macquarie maintains Outperform on Sirius XM Radio (NASDAQ: SIRI) & keeps a price target of $5.00.

Analyst Amy Yong comments "As Sirius XM no longer gets credit for its impressive beat/raise track record, the big debate is on balancing organic growth/M&A options with capital returns. Pandora (P US, US$12.12, Outperform, TP:... More