Pandora Media Inc. (P) Lifted to Conviction-Buy at Goldman Sachs Group Inc.
Goldman Sachs Group Inc. upgraded shares of Pandora Media Inc. (NYSE:P) from a buy rating to a conviction-buy rating in a report published on Tuesday morning. They currently have $19.00 price objective on the Internet radio service’s stock, up from their prior price objective of $17.00.
Several other research analysts have also commented on the stock. B. Riley restated a buy rating and issued a $15.00 price target on shares of Pandora Media in a report on Tuesday, June 28th. Canaccord Genuity restated a buy rating and issued a $14.00 price target on shares of Pandora Media in a report on Tuesday, June 14th. MKM Partners restated a hold rating and issued a $11.50 price target on shares of Pandora Media in a report on Saturday, July 9th. Finally, Vetr lowered shares of Pandora Media from a strong-buy rating to a buy rating and set a $15.56 price target on the stock. in a report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Pandora Media has a consensus rating of Buy and an average target price of $15.91.
Pandora Media (NYSE:P) traded down 0.104% during midday trading on Tuesday, hitting $14.405. 292,088 shares of the stock were exchanged. Pandora Media has a 12-month low of $7.10 and a 12-month high of $20.96. The stock’s market cap is $3.33 billion. The firm has a 50 day moving average of $14.04 and a 200-day moving average of $11.90.
Pandora Media (NYSE:P) last released its earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. Pandora Media had a negative net margin of 23.04% and a negative return on equity of 25.53%. The business had revenue of $343 million for the quarter, compared to analysts’ expectations of $351.48 million. On average, equities analysts expect that Pandora Media will post ($0.39) earnings per share for the current 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. Gruss & Co. Inc. bought a new stake in shares of Pandora Media during the second quarter worth about $125,000. Osterweis Capital Management Inc. acquired a new position in shares of Pandora Media during the second quarter worth approximately $125,000. Passport Capital LLC acquired a new position in shares of Pandora Media during the second quarter worth approximately $127,000. Legal & General Group Plc raised its position in shares of Pandora Media by 46.1% in the first quarter. Legal & General Group Plc now owns 14,373 shares of the Internet radio service’s stock worth $129,000 after buying an additional 4,534 shares during the period. Finally, Franklin Resources Inc. acquired a new position in shares of Pandora Media during the second quarter worth approximately $144,000.
Pandora Media Company Profile
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.
Receive News & Ratings for Pandora Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media Inc. and related companies with MarketBeat.com's FREE daily email newsletter.