Following Pandora Media Inc(NYSE:P)’s earnings report last night, analysts are now weighing in this morning.
Albert Fried said Pandora’s mixed results validate its slowing growth thesis and Underweight rating. Price target lowered to $20 from $23.
After Pandora reported Q1 results that Oppenheimer views as solid, the firm thinks the company is benefiting from strong sales of local ads. The firm keeps a $43 price target and Outperform rating on the stock.
Cowen said Pandora reported solid Q1 results citing rising mobile ad revenues. The firm believes its strong listening metrics for the remainder of the year will be a key driver of growth. Shares are Outperform rated with a $41 price target.
Piper Jaffray recommends buying shares of Pandora on weakness after the company’s Q2 guidance came in below expectations. Piper believes Pandora’s monetization gains remain on track and it reiterates an Overweight rating on the stock with a $37 price target.
Analysts have a consensus price target of $31.88 on Pandora Media (NYSE:P) which indicates a 12% upside. The consensus rating of the stock is a HOLD with a score of 2.37. There are currently 13 Hold Ratings, 3 sell ratings and 14 Buy ratings on the stock.
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