Pandora Media Receives a Hold from Wells Fargo

By Ryan Adsit

Wells Fargo analyst Peter Stabler reiterated a Hold rating on Pandora Media (NYSE: P) yesterday. The company’s shares closed yesterday at $11.60.

Stabler said:

“We analyze this data monthly to check for significant deviations from run-rate uses to build our full quarter estimate for ad-supported hours. We remind investors that with the increased focus on driving subscriptions of Pandora’s ad-free Plus product and the impending roll-out of Pandora’s full on-demand product Pandora Premium, ad- supported hours growth will over time become a less important driver of total company revenue growth. Based on our analysis, we remain confident in our current 1Q hrs forecast and leave our estimates, Market Perform rating, and $12- $14 valuation range unchanged.”

According to TipRanks.com, Stabler is ranked #281 out of 4545 analysts.

Pandora Media has an analyst consensus of Moderate Buy, with a price target consensus of $14.90.

Based on Pandora Media’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $393 million and GAAP net loss of $90.01 million. In comparison, last year the company earned revenue of $336 million and had a GAAP net loss of $19.41 million.

Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock.

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Pandora Media, Inc. provides an internet radio service in the United States, Australia and New Zealand. It offers a personalized experience for listeners to listen radio on smartphones, tablets, computers, car audio systems, and Internet-connected devices. Its also offers service through the Free Service and Pandora One models. The Free Service is advertising-supported and allows listeners access to music and comedy catalogs and personalized playlist generating system for free across all of the Pandora delivery platforms. The Pandora One covers paid subscription service without any advertising. The company was founded by Timothy Westergren and Jon Kraft in January 2000 and is headquartered in Oakland, CA.