What to Expect When Pandora Reports After the Close

Pandora Media Inc. (NYSE: P) is scheduled to release its most recent quarterly results after the markets close on Tuesday. The consensus estimates from Thomson Reuters call for a net loss of $0.16 per share and $372.78 million in revenue. In the same period of last year, the music streaming provider said it had a net loss of $0.21 per share and $376.83 million in revenue.

Overall, Pandora has outperformed the broad markets, with the stock up over 43% year to date. In the past 52 weeks though, the stock still is down 27%.

There has been a rising tide for Pandora of late, and it seems to be reflected in a recent report from the Recording Industry Association of America:

Streaming music platforms accounted for almost 2/3rd of total U.S. music industry revenues in 2017, and contributed nearly all of the growth. The streaming category includes revenues from premium subscription services, streaming radio services including those revenues distributed by SoundExchange (like Pandora, SiriusXM, and other Internet radio), and ad-supported on-demand streaming services (such as YouTube, Vevo, and ad-supported Spotify).

A few analysts weighed in on Pandora ahead of the report:

  • Wedbush has a Buy rating and a $10 price target.
  • Nomura has a Neutral rating with an $8 price target.
  • Morgan Stanley has an Equal Weight rating with an $8 target.
  • BMO Capital Markets has an Outperform rating and a $9 target.
  • Credit Suisse has a Neutral rating with a $6 target price.

Shares of Pandora were last seen trading at $6.94, with a consensus analyst price target of $7.86 and a 52-week range of $4.09 to $9.26.