Pandora Media, Inc. (P) Given a $15.00 Price Target by FBN Securities Analysts
Pandora Media, Inc. (NYSE:P) has been given a $15.00 price target by FBN Securities in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the Internet radio service’s stock. FBN Securities’ price target indicates a potential upside of 25.00% from the stock’s previous close.
Several other research analysts have also recently weighed in on the stock. Goldman Sachs Group, Inc. (The) raised shares of Pandora Media from a “buy” rating to a “conviction-buy” rating and increased their price target for the company from $17.00 to $19.00 in a report on Tuesday, October 4th. Zacks Investment Research lowered shares of Pandora Media from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th. Credit Suisse Group decreased their target price on shares of Pandora Media from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, October 17th. RBC Capital Markets set a $13.00 target price on shares of Pandora Media and gave the stock a “hold” rating in a research report on Monday, October 24th. Finally, Mizuho restated a “neutral” rating and set a $12.00 target price on shares of Pandora Media in a research report on Friday, December 23rd. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.62.
Pandora Media (NYSE:P) traded up 7.25% on Friday, reaching $12.87. 12,523,693 shares of the company traded hands. Pandora Media has a 52-week low of $7.10 and a 52-week high of $14.98. The stock has a 50-day moving average of $12.82 and a 200 day moving average of $12.90. The company’s market capitalization is $3.00 billion.
Pandora Media (NYSE:P) last released its quarterly earnings results on Tuesday, October 25th. The Internet radio service reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company earned $351.90 million during the quarter, compared to the consensus estimate of $1.40 billion. Pandora Media had a negative net margin of 20.50% and a negative return on equity of 30.45%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. On average, equities analysts forecast that Pandora Media will post ($0.63) EPS for the current year.
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In other news, insider Christopher Douglas Martin sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $13.02, for a total value of $26,040.00. Following the sale, the insider now owns 326,668 shares of the company’s stock, valued at $4,253,217.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.64% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Matrix Capital Management Company LP acquired a new stake in Pandora Media during the third quarter valued at about $325,962,000. Vanguard Group Inc. raised its stake 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 worth $191,529,000 after buying an additional 474,859 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Pandora Media by 2.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,406,186 shares of the Internet radio service’s stock worth $77,471,000 after buying an additional 143,748 shares during the period. Cornerstone Capital Management LLC raised its stake 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 worth $62,888,000 after buying an additional 753,567 shares during the period. Finally, Alliancebernstein L.P. raised its stake 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 worth $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.
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