Pandora Media, Inc. (NYSE:P) Receives “Buy” Rating from Wedbush
Wedbush reissued their buy rating on shares of Pandora Media, Inc. (NYSE:P) in a report published on Tuesday morning. Wedbush also issued estimates for Pandora Media’s Q3 2017 earnings at ($0.15) EPS, Q4 2017 earnings at ($0.11) EPS, FY2017 earnings at ($0.99) EPS, Q1 2018 earnings at ($0.29) EPS, Q2 2018 earnings at ($0.17) EPS, Q3 2018 earnings at ($0.08) EPS, Q4 2018 earnings at $0.04 EPS and FY2018 earnings at ($0.51) EPS.
Other analysts have also issued research reports about the stock. B. Riley restated a buy rating and set a $15.00 price target on shares of Pandora Media in a research note on Tuesday, May 9th. Nomura decreased their price target on shares of Pandora Media from $14.00 to $12.00 and set a hold rating for the company in a research note on Tuesday, May 9th. Piper Jaffray Companies set a $18.00 price target on shares of Pandora Media and gave the company a buy rating in a research note on Saturday, June 10th. Pacific Crest restated an underweight rating and set a $9.00 price target on shares of Pandora Media in a research note on Tuesday, May 9th. Finally, BidaskClub upgraded shares of Pandora Media from a strong sell rating to a sell rating in a research note on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $12.07.
Pandora Media (NYSE P) traded up 1.31% on Tuesday, hitting $8.48. 3,834,777 shares of the stock traded hands. The company’s market cap is $2.06 billion. The stock has a 50-day moving average price of $8.70 and a 200 day moving average price of $10.70. Pandora Media has a 1-year low of $6.76 and a 1-year high of $14.98.
Pandora Media (NYSE:P) last announced its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.08. The business had revenue of $376.83 million during the quarter, compared to analyst estimates of $367.51 million. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. Pandora Media’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) EPS. On average, analysts anticipate that Pandora Media will post ($0.52) EPS for the current fiscal year.
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In other Pandora Media news, insider Christopher Douglas Martin sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $9.91, for a total value of $29,730.00. Following the completion of the sale, the insider now owns 272,569 shares of the company’s stock, valued at $2,701,158.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Michael S. Herring sold 11,730 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $9.38, for a total value of $110,027.40. Following the completion of the sale, the president now directly owns 548,230 shares of the company’s stock, valued at approximately $5,142,397.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,642 shares of company stock worth $411,284. 2.59% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Falcon Point Capital LLC purchased a new stake in shares of Pandora Media during the second quarter valued at about $102,000. Aperio Group LLC purchased a new stake in shares of Pandora Media during the second quarter valued at about $115,000. Virtu Financial LLC purchased a new stake in shares of Pandora Media during the second quarter valued at about $121,000. Two Sigma Securities LLC purchased a new stake in shares of Pandora Media during the first quarter valued at about $136,000. Finally, Waldron LP purchased a new stake in shares of Pandora Media during the first quarter valued at about $167,000.
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.
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