Pandora Media Inc. (P) Trading Up 2.2%
Pandora Media Inc. (NYSE:P) shares were up 2.2% on Thursday . The company traded as high as $14.41 and last traded at $14.31, with a volume of 1,751,423 shares. The stock had previously closed at $14.00.
A number of brokerages have commented on P. Albert Fried & Company reissued a “buy” rating and set a $16.00 price objective on shares of Pandora Media in a report on Tuesday, May 17th. Vetr lowered Pandora Media from a “strong-buy” rating to a “buy” rating and set a $10.74 price objective for the company. in a report on Monday, May 9th. Axiom Securities raised Pandora Media from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Thursday, June 9th. Citigroup Inc. reissued a “buy” rating and set a $16.00 price objective on shares of Pandora Media in a report on Wednesday, June 8th. Finally, B. Riley raised Pandora Media to a “buy” rating and set a $15.00 price objective for the company in a report on Saturday, May 28th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twenty-one have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $15.58.
The firm’s 50-day moving average is $13.41 and its 200 day moving average is $11.22. The stock’s market capitalization is $3.33 billion.
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, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. The business had revenue of $343 million for the quarter, compared to analysts’ expectations of $351.48 million. On average, equities research analysts predict that Pandora Media Inc. will post ($0.39) EPS for the current year.
In other 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 completion of the transaction, the insider now directly owns 288,878 shares in the company, valued at $3,509,867.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Douglas Martin sold 6,667 shares of Pandora Media stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $14.32, for a total transaction of $95,471.44. Following the transaction, the insider now owns 347,236 shares of the company’s stock, valued at $4,972,419.52. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Pandora Media stock. BlackRock Advisors LLC raised its stake in shares of Pandora Media Inc. (NYSE:P) by 37.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,314,368 shares of the Internet radio service’s stock after buying an additional 359,432 shares during the period. BlackRock Advisors LLC owned 0.62% of Pandora Media worth $17,626,000 as of its most recent SEC filing.
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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