RBC Capital Markets reaffirmed their sector perform rating on shares of Pandora Media Inc. (NYSE:P) in a research note issued to investors on Wednesday morning. RBC Capital Markets currently has a $13.00 price target on the Internet radio service’s stock.

Analyst Recommendations for Pandora Media (NYSE:P)

Other analysts have also issued research reports about the stock. Albert Fried & Company reiterated a buy rating and set a $16.00 price objective on shares of Pandora Media in a research note on Tuesday, May 17th. Vetr lowered shares of Pandora Media from a strong-buy rating to a buy rating and set a $12.97 price target for the company. in a research note on Monday, June 13th. Axiom Securities upgraded shares of Pandora Media from a hold rating to a buy rating and set a $16.00 price target for the company in a research note on Thursday, June 9th. Citigroup Inc. restated a buy rating and issued a $16.00 price target on shares of Pandora Media in a research note on Wednesday, June 8th. Finally, B. Riley upgraded shares of Pandora Media to a buy rating and set a $15.00 price target for the company in a research note on Saturday, May 28th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $16.08.

Shares of Pandora Media (NYSE:P) opened at 13.49 on Wednesday. Pandora Media has a 1-year low of $7.10 and a 1-year high of $22.20. The stock has a 50 day moving average of $13.74 and a 200 day moving average of $11.56. The firm’s market cap is $3.12 billion.

Pandora Media (NYSE:P) last posted its quarterly earnings data on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $343 million for the quarter, compared to analyst estimates of $351.48 million. Pandora Media had a negative net margin of 23.04% and a negative return on equity of 25.53%. Equities research analysts anticipate that Pandora Media will post ($0.39) earnings per share for the current fiscal year.

In other Pandora Media news, insider Christopher Douglas Martin sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $13.60, for a total transaction of $27,200.00. Following the completion of the sale, the insider now owns 344,470 shares of the company’s stock, valued at $4,684,792. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher W. Phillips sold 12,274 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $12.15, for a total value of $149,129.10. Following the sale, the insider now directly owns 288,878 shares of the company’s stock, valued at approximately $3,509,867.70. The disclosure for this sale can be found here. 6.64% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Pandora Media during the fourth quarter worth about $15,654,000. Lockheed Martin Investment Management Co. bought a new stake in shares of Pandora Media during the first quarter worth about $1,754,000. TIAA CREF Investment Management LLC boosted its stake in shares of Pandora Media by 0.3% in the first quarter. TIAA CREF Investment Management LLC now owns 639,383 shares of the Internet radio service’s stock worth $5,722,000 after buying an additional 1,708 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Pandora Media by 308.2% in the first quarter. BlackRock Inc. now owns 25,287 shares of the Internet radio service’s stock worth $227,000 after buying an additional 19,093 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Pandora Media by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,032,903 shares of the Internet radio service’s stock worth $45,044,000 after buying an additional 110,180 shares during the last quarter.

About Pandora Media

Pandora Media, Inc (Pandora) is a music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music, whether through earbuds, car speakers or live on stage. The Company delivers targeted messages to its listeners using a combination of audio, display and video advertisements.

5 Day Chart for NYSE:P

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