Seeking Alpha

Pandora slides ahead of earnings following Albert Fried downgrade

Albert Fried has cut Pandora (P -3%) to Underweight ahead of Thursday's FQ3 report, citing valuation. The firm's PT is unchanged at $23.

Analyst commentary going into earnings has been very positive overall. JPMorgan and Needham recently raised their PTs, and Susquehanna and Piper have joined in today.

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Comments (6)
  • Ron Reed
    , contributor
    Comments (338) | Send Message
    ho-hum more 'experts' weigh in with mindless drivel and held to no account
    19 Nov 2013, 02:36 PM Reply Like
  • tigerjohnni
    , contributor
    Comments (1220) | Send Message
    Atleast his is more realistic and a downgrade, especially for a company with no profits
    19 Nov 2013, 02:46 PM Reply Like
  • Growfast
    , contributor
    Comments (285) | Send Message
    Amazing that $P is $528MM revenue, essentially operating at breakeven and is valued at a market cap of $5.7 Bln. Appears to be a bubble about to pop.
    19 Nov 2013, 03:33 PM Reply Like
  • dgulick
    , contributor
    Comments (2069) | Send Message
    Market is forward looking and the opportunity for P is huge. Here're analyst price targets:


    Analyst PT Premium
    Piper Jaffray $37 +29%
    Wells Fargo Securities $36 +25%
    Susquehanna $36 +25%
    J.P. Morgan $35 +22%
    Goldman Sachs $35 +22%
    Needham $33 +15%
    RBC Capital $33 +15%
    19 Nov 2013, 04:11 PM Reply Like
  • Ron Reed
    , contributor
    Comments (338) | Send Message
    Actually, I agree with the downgrade, I'm 2K shares short. However, with little to no accountability all of the 'experts' that weigh in on most stocks hold no value to me. Regardless of if they agree or disagree with my feelings on that particular stock/bond/asset. So long as they maintain a 50/50 shot they continue to make the same calls and jump up and down when they are right and come up with more drivel about what changed in the months/weeks/days/seconds from when they made the pick to what really happens.
    19 Nov 2013, 04:03 PM Reply Like
  • Ron Reed
    , contributor
    Comments (338) | Send Message
    Nov 15th
    Three days after Needham issued a bullish note on Pandora (P +6.2%) ahead of its Nov. 21 FQ3 report, JPMorgan is joining in. The firm has raised its PT to $35 from $25, while declaring the Internet radio leader is nearing a revenue "inflection point" thanks to share gains and salesforce investments.


    Nov 25 (10 days later)


    Pandora Media Cut to Equalweight From Overweight by Morgan Stanley >P


    This is exactly what I was talking about.
    26 Nov 2013, 07:38 AM Reply Like
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