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P

Pandora

$5.05

0.145 (2.96%)

12:00
02/15/18
02/15
12:00
02/15/18
12:00

Bullish short-term play opened in Pandora ahead of earnings

Bullish short-term play opened in Pandora ahead of earnings. The stock up a dime to $5 and 20K Feb 23rd 5.5 calls bought for 33c per contract. 24.2K trade at that line and the bullish flow seems on track to open the largest open interest block in the name, surpassing 23.9K OI at the Mar 4 put strike. Mar 2nd 4.5 and Mar 9th 5 calls are also seeing interest Thursday. Total volume is 32K calls and 900 puts. Earnings due 2/21 and Pandora saw a notable move last quarter, falling 24.6% to $5.59 on 11/3/17 in reaction to the results.

  • 23

    Feb

  • 26

    Feb

  • 05

    Mar

P Pandora
$5.05

0.145 (2.96%)

01/29/18
SBSH
01/29/18
UPGRADE
Target $54
SBSH
Buy
Liberty SiriusXM upgraded to Buy from Neutral at Citi
Citi analyst Jason Bazinet upgraded Liberty SiriusXM to Buy and raised his price target for the shares to $54 from $48. Liberty Sirius, which holds nothing other than Sirius (SIRI) shares, trades at a "wide discount" to net asset value, Bazinet tells investors in a research note. He suspects Liberty management wants to close the 20% net asset value gap. Until the NAV gap is closed, it may be difficult for SiriusXM and Liberty Sirius to "do what's logical," or combine into a single security, the analyst contends. Bazinet believes an acquisition of Pandora Media (P) by Liberty Sirius may narrow the NAV discount.
01/08/18
01/08/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. GoPro (GPRO) downgraded to Neutral from Buy at Longbow with analyst Joe Wittine saying his channel checks confirmed the holidays missed the company's plan and late quarter $100 price cuts were not enough to save the quarter. 2. Snap (SNAP) downgraded to Hold from Buy at Jefferies with analyst Brent Thill saying he continues to have optimism around Snap's platform, but believes "fundamental execution needs to be shown" before he can be more positive on the name. 3. Cirrus Logic (CRUS) downgraded to Sector Weight from Overweight at KeyBanc with analyst John Vinh citing his "disappointment" with the current iPhone cycle and the lack of meaningful content gains until 2019. 4. Pandora (P) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Benjamin Swinburne noting that the company's core free product has not evolved meaningfully and faces continued innovation by Spotify, Apple (AAPL) and Amazon (AMZN) while also being pressured by free music available on Google's (GOOG) YouTube. 5. GrubHub (GRUB) downgraded to Neutral from Outperform at Wedbush with analyst Aaron Turner saying that while he continues to like the company's market opportunity and competitive positioning, the current peak valuation of shares accurately reflects these positive dynamics. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/08/18
MSCO
01/08/18
DOWNGRADE
Target $6
MSCO
Equal Weight
Pandora downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne downgraded Pandora (P) to Equal Weight from Overweight, noting that the company's core free product has not evolved meaningfully and faces continued innovation by Spotify, Apple (AAPL) and Amazon (AMZN) while also being pressured by free music available on Google's (GOOG) YouTube. While engagement is challenged, is increasingly clear that consumers' willingness to accept more ads is limited, which also puts pressure on monetization and means growing ad revenue in 2018 is "no longer a given," he tells investors. Swinburne lowered his price target on Pandora shares to $6 from $12.
01/02/18
RHCO
01/02/18
NO CHANGE
Target $7
RHCO
Hold
Pandora 2018 EBITDA consensus is too high, says SunTrust
SunTrust analyst Matthew Thornton lowered his price target on Pandora (P) to $7 from $8 and kept his Hold rating, saying that while he is positive on the company's initiatives to boost User Hours and Subscriptions, they will take time and investment to materialize. Thornton says the consensus EBITDA view of -$42M is too high, given the expected rise in costs. The analyst also points to "intense" competition in streaming music as well as potential entry in the space at Facebook (FB), based on its music hires and content licensing.

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$0.00

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$33.30

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