To get the latest Pandora Media stock quote information, you can check the NASDAQ website.
Pandora Media's stock ticker symbol is P.
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Pandora Media's stock price can fluctuate rapidly, so it's essential to stay up-to-date with the latest information.
Stock Performance
Pandora Media stock initially dropped as much as 9.7% early Friday.
Shares quickly rebounded to trade up more than 5% on the day after the streaming music specialist's first-quarter results beat expectations.
Adjusted quarterly revenue grew 28% year over year to $230.8 million.
Adjusted net loss was $0.12 per share, which was better than analysts' expectations of a $0.16 per share loss on lower sales.
Pandora's revenue included a 27% jump in advertising revenue to $178.7 million.
Local advertising revenue grew an impressive 67% over the same period to $43.3 million, representing roughly 24% of total advertising.
The market changed its tune after fully digesting the results, with the stock price bouncing back.
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Company Insights
Pandora Media has experienced significant growth under the leadership of CEO Naveen Chopra, who took over in 2017. Chopra has been instrumental in driving the company's digital transformation.
Pandora's stock price has fluctuated over the years, with a high of $43.74 in 2014 and a low of $2.42 in 2017. This volatility is a result of the company's struggles to adapt to changing consumer behavior.
Under Chopra's guidance, Pandora has focused on developing its personalized radio service, which has helped the company stay competitive in the market. This strategy has led to increased user engagement and revenue growth.
Pandora's revenue has been steadily increasing, with a 22% year-over-year growth in 2019. This growth can be attributed to the company's successful pivot to a subscription-based model.
The company's focus on data analytics has also been a key factor in its success, allowing Pandora to better understand its users and create more targeted advertising campaigns. This has resulted in increased advertising revenue for the company.
Press Releases:
Pandora Media has been making headlines with some exciting developments.
In January 2019, Pandora's stockholders approved a transaction with SiriusXM, a major milestone for the company.
Pandora also launched Voice Mode in its mobile app, making it easier for users to navigate and enjoy their favorite music.
The company celebrated TRAP Karaoke in Los Angeles, showing off its fun and creative side.
Pandora kicked off the Big Game Weekend in Atlanta, generating buzz and excitement among its fans.
Here are some key dates related to these press releases:
Frequently Asked Questions
What happened to Pandora stock?
Pandora stock was replaced by Sirius XM stock in a corporate combination, with each Pandora share exchanged for 1.44 shares of Sirius XM. The merger was completed just three days after Pandora shareholders approved the deal.
Is Pandora a good stock?
Pandora's stock rating is Moderate Buy, indicating a neutral outlook from analysts. Investors may want to consider Pandora's financials and market trends before making a decision.
Can you buy Pandora stock?
Yes, you can buy Pandora stock through our platform. To get started, navigate to the Explore page and search for PANDY in the search bar.
Sources
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