Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, online radio company Pandora Media (NYSE: P) has received the dreaded one-star ranking.

With that in mind, let's take a closer look at Pandora's business and see what CAPS investors are saying about the stock right now.

Pandora facts

Headquarters (Founded) Oakland, Calif. (2000)
Market Cap $2.39 billion
Industry Broadcasting
Trailing-12-Month Revenue $203.3 million
Management Chairman/CEO Joseph Kennedy
CFO Steven Cakebread
Trailing-12-Month Net Income Margin (4.4%)
Cash/Debt $95.31 million / $0

Sources: S&P Capital IQ and Motley Fool CAPS.

On CAPS, 73% of the 390 members who have rated Pandora believe the stock will underperform the S&P 500 going forward. These bears include fellow Fool Charly Travers (TMFCandyMountain), who is ranked in the top 0.5% of our community, and Jbay76.

Late last month, Charly nicely summed up the Pandora bear case:

Love the business as a consumer but not as an analyst. There's no scale. Royalty costs go up as more people listen. Also those listeners are going from desktops to mobile where ad rates are lower so that hurts revenue. Red thumb.

In fact, Pandora currently trades at a lofty price-to-sales ratio of 11.7. That represents a clear premium to online music threats like (Nasdaq: AMZN) (2.6), Apple (Nasdaq: AAPL) (3.7), and Google (Nasdaq: GOOG) (5.3).

CAPS member Jbay76 expands on the underperform argument:

How can P, and therefore their investors, make money when their biz model is such that they lose money on every new customer? These guys have stated in their filings that they will be losing money every quarter through 2012 and that there is no indication that they can modify existing contracts with music industry in 2015 to make their biz model profitable. When a company flat out tells you it will lose your money, why are you gonna race to own a piece of that company?

What do you think about Pandora, or any other stock for that matter? If you want to retire rich, you need to protect your portfolio from any undue risk. Staying away from dangerous stocks is crucial to securing your financial future, and on Motley Fool CAPS, thousands of investors are working every day to flag them. CAPS is 100% free, so get started!

Interested in another easy way to track Pandora? Add it to your watchlist.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.