Pandora Media Price Target Increased to $16.00 by Analysts at Canaccord Genuity (P)
Equities researchers at Canaccord Genuity upped their target price on shares of Pandora Media (NYSE: P) from $14.00 to $16.00 in a report issued on Friday. The firm currently has a “buy” rating on the stock.
Pandora Media traded down 0.36% on Friday, hitting $13.74. Pandora Media has a 52-week low of $7.08 and a 52-week high of $14.70. The stock’s 50-day moving average is currently $11.95. The company’s market cap is $2.348 billion.
Pandora Media last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.05) by $0.01. The company had revenue of $125.10 million for the quarter, compared to the consensus estimate of $122.81 million. During the same quarter last year, the company posted ($0.03) earnings per share. Pandora Media’s revenue was up 53.9% compared to the same quarter last year. Pandora Media has set its Q1 guidance at ($0.13)-($0.10) EPS and its FY14 guidance at ($0.05) – $0.05 EPS. Analysts expect that Pandora Media will post $-0.01 EPS for the current fiscal year.
A number of other firms have also recently commented on P. Analysts at Albert Fried & Company raised their price target on shares of Pandora Media from $13.00 to $18.00 in a research note to investors on Friday. Separately, analysts at JPMorgan Chase raised their price target on shares of Pandora Media from $14.00 to $17.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Finally, analysts at Goldman Sachs reiterated a “neutral” rating on shares of Pandora Media in a research note to investors on Friday.
Ten equities research analysts have rated the stock with a buy rating, one has issued an overweight rating, ten have given a hold rating, and three have given a sell rating to the company’s stock. Pandora Media has a consensus rating of “overweight” and an average price target of $13.23.
Pandora Media, Inc. operates as an internet radio company in the United States. The Company offers a range of display, audio and video advertising products across multiple platforms.
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