Wells Fargo & Co. restated their hold rating on shares of Pandora Media Inc. (NYSE:P) in a report published on Wednesday.

Analyst Recommendations for Pandora Media (NYSE:P)

P has been the topic of a number of other reports. Macquarie restated an outperform rating and set a $17.00 price target (up from $16.00) on shares of Pandora Media in a research note on Monday, August 29th. MKM Partners increased their target price on shares of Pandora Media from $23.00 to $25.00 and gave the stock a buy rating in a research note on Thursday, August 25th. FBR & Co reiterated an outperform rating and issued a $16.00 target price on shares of Pandora Media in a research note on Tuesday, August 23rd. Piper Jaffray Cos. set a $18.00 target price on shares of Pandora Media and gave the stock a buy rating in a research note on Friday, August 19th. Finally, Axiom Securities reiterated a buy rating on shares of Pandora Media in a research note on Monday. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $16.08.

Pandora Media (NYSE:P) opened at 13.81 on Wednesday. Pandora Media has a one year low of $7.10 and a one year high of $22.20. The stock’s 50 day moving average is $13.76 and its 200-day moving average is $11.59. The firm’s market cap is $3.19 billion.

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

In other Pandora Media news, insider Christopher W. Phillips sold 12,274 shares of Pandora Media stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $12.15, for a total transaction of $149,129.10. Following the transaction, the insider now owns 288,878 shares of the company’s stock, valued at $3,509,867.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Douglas Martin sold 2,000 shares of Pandora Media stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $13.21, for a total transaction of $26,420.00. Following the transaction, the insider now directly owns 342,896 shares in the company, valued at approximately $4,529,656.16. The disclosure for this sale can be found here. Company insiders own 6.64% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in P. Vanguard Group Inc. increased its position in Pandora Media by 3.2% in the second quarter. Vanguard Group Inc. now owns 15,383,890 shares of the Internet radio service’s stock valued at $191,529,000 after buying an additional 474,859 shares during the period. Jackson Square Partners LLC increased its position in Pandora Media by 83.2% in the first quarter. Jackson Square Partners LLC now owns 11,291,361 shares of the Internet radio service’s stock valued at $101,057,000 after buying an additional 5,127,147 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Pandora Media by 4.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,262,438 shares of the Internet radio service’s stock valued at $65,517,000 after buying an additional 229,535 shares during the period. Cornerstone Capital Management LLC increased its position in Pandora Media by 17.5% in the second quarter. Cornerstone Capital Management LLC now owns 5,051,243 shares of the Internet radio service’s stock valued at $62,888,000 after buying an additional 753,567 shares during the period. Finally, Alliancebernstein L.P. increased its position in Pandora Media by 3.1% in the second quarter. Alliancebernstein L.P. now owns 4,621,806 shares of the Internet radio service’s stock valued at $57,541,000 after buying an additional 137,383 shares during the period.

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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