Pandora Media Inc (NYSE:P) pans higher levels

Posted by Peter Lauro August 19, 2013 0 Comment 751 views

Last week, Heath Terry, the Goldman Sachs’ upgraded Pandora Media Inc (NYSE:P)’s rating from “neutral” to a “buy” and tagged it with a pretty ambitious price-target of $27/share. The streaming bellwether is all geared-up to post its viagra side effects quarterly results. Terry sees P earning $0.20/share in 2013 which tops the $0.02 that he had originally projected and the $0.04 that is the current Wall Street average estimate.

Estimate hike

Terry changed his estimate even as the company’s revenue started rising and grew faster than the content costs. Pandora is slated to announce its earnings results for the quarter on Thursday so it’s just left to be seen whether Terry’s upgrade was perfect in its cialis time target or unfortunate. Looking at his estimate, it seems like he has high expectations from the company and has set the start price target at $27 while the upper end had not yet been viagra side effects clarified at time of writing.

If the market does take the bullish route like Goldman Sachs has, (they feel that the upper price limit can touch $40), It will definitely cialis samples be a spot in the sun for the company. As of now, the route to the top is quite a meandering one.

Last trading stats

At Friday’s close, Pandora stock rose by 2.47%. The opening price of the shares was 21.10 which reached an intraday high of $21.50 which dipped to close at $20.34. More than 18.88M exchanged hands in Friday’s trading session while how long with viagra the average volume of shares sold over a 3-day period was levitra side effects 5.66 million. The company has a market cap of $3.56 billion.

Terry has some strong reasoning for his estimate. He said that Goldman Sachs is encouraged by 3 quarters of high-speed mobile Ad RPM as growth in subscription revenue as well. Another reason is that they believe that competition concerns have been understood to a certain extent.

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