Pandora Media, Inc. (P) Given Consensus Rating of “Hold” by Analysts
Shares of Pandora Media, Inc. (NYSE:P) have been assigned an average recommendation of “Hold” from the forty-one brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $12.05.
Several equities research analysts have recently commented on the company. Wells Fargo & Company reissued a “market perform” rating and set a $10.00 price target (down previously from $12.00) on shares of Pandora Media in a research note on Monday, June 12th. B. Riley restated a “buy” rating and set a $15.00 price objective on shares of Pandora Media in a research report on Tuesday, May 9th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $7.00 price objective (down from $12.00) on shares of Pandora Media in a research report on Sunday, June 18th. William Blair reiterated an “outperform” rating on shares of Pandora Media in a report on Tuesday, May 9th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $11.00 price target (down from $12.00) on shares of Pandora Media in a report on Tuesday, August 1st.
In related news, insider Christopher Douglas Martin sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $9.18, for a total value of $27,540.00. Following the transaction, the insider now directly owns 257,921 shares in the company, valued at approximately $2,367,714.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael S. Herring sold 11,730 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total transaction of $110,027.40. Following the completion of the transaction, the president now owns 548,230 shares in the company, valued at $5,142,397.40. The disclosure for this sale can be found here. Insiders have sold a total of 40,642 shares of company stock worth $381,554 in the last 90 days. 2.59% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Pandora Media during the fourth quarter valued at about $4,461,000. Teachers Advisors LLC raised its stake in Pandora Media by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 1,043,059 shares of the Internet radio service’s stock valued at $13,601,000 after buying an additional 41,279 shares in the last quarter. Waldron LP bought a new stake in Pandora Media during the first quarter valued at about $167,000. Profund Advisors LLC raised its stake in Pandora Media by 27.3% in the first quarter. Profund Advisors LLC now owns 99,201 shares of the Internet radio service’s stock valued at $1,172,000 after buying an additional 21,256 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Pandora Media by 154.4% in the first quarter. Russell Investments Group Ltd. now owns 2,071,238 shares of the Internet radio service’s stock valued at $24,461,000 after buying an additional 1,256,984 shares in the last quarter.
Shares of Pandora Media (P) traded up 1.564% during mid-day trading on Friday, hitting $8.115. The stock had a trading volume of 1,160,414 shares. The firm has a 50 day moving average price of $8.92 and a 200 day moving average price of $10.52. The firm’s market cap is $1.97 billion. Pandora Media has a 52-week low of $6.76 and a 52-week high of $14.98.
Pandora Media (NYSE:P) last announced its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.08. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The company had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. During the same quarter in the previous year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts predict that Pandora Media will post ($0.50) EPS for the current year.
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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