Tomahawk, WI 07/28/2014 (Basicsmedia) – Pandora Media Inc. (NYSE:P) takes the biggest leap in the last three months to the astonishment of the financial analysts. The estimates from the analysts had to go through a bad phase in the regard of biggest internet radio services, Pandora.
Turmoil to overcome
Pandora Media Inc. (NYSE:P) had to get down to as low as 13% to a value of $24.93 at the start of the previous fiscal day. Earlier the same radio giant had faced a tumble of about 14% which was the biggest intraday drop of the company’s shares. If we look at the entire span, the company has risen to a margin of 8% which is an appreciable growth.
Previous day market watch
A statement from the Oakland, California based radio service provider Pandora Media Inc. (NYSE:P) released an official statement which signifies that the active listeners of the radio company has grown extensively in the second quarter. The growth in the listeners accounted to a rise of 7.5% which made the company to be loved among 76.4 million active listeners. This number though massive, betrayed the estimate of Corey Barret and Mark Mahaney who approximated the number of listeners to be 76.6 million and 77 million respectively. These estimates were performed at the RBC Capital Markets.
A source from the analyst’s team said that the company’s listeners were stagnating and termed this to be the real challenge and competition in the today’s present scenarios. Pandora Media Inc. (NYSE:P) is facing tough competition among other multinational companies like Google is acquiring Songza Media Inc. another noteworthy acquisition of Beats Electronics LLC by the software and hardware giant Apple Inc. when these tougher counterparts are to be competed, maintaining a stable market position becomes very difficult.
The number of listeners of Pandora has changed a little in a way which distresses the company and this thing has to be looked into. Loosing listeners is directly proportional to loosing business. The source of Pandora Media Inc. (NYSE:P) says that retaining the current position and restring the lost position are the company’s short term and long term goal respectively.