Pandora Media (P) PT Set at $9.00 by Piper Jaffray Companies
Pandora Media (NYSE:P) has been given a $9.00 target price by equities researchers at Piper Jaffray Companies in a report issued on Tuesday. The brokerage currently has a “buy” rating on the Internet radio service’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 79.64% from the stock’s previous close.
Several other analysts also recently weighed in on P. Wells Fargo & Company reaffirmed a “hold” rating on shares of Pandora Media in a research note on Tuesday, August 15th. FBR & Co reiterated a “buy” rating and set a $11.00 price target on shares of Pandora Media in a research report on Tuesday, August 15th. BidaskClub upgraded Pandora Media from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Evercore ISI started coverage on Pandora Media in a research report on Tuesday, December 5th. They set an “in-line” rating and a $5.50 price target on the stock. Finally, Stifel Nicolaus set a $12.00 price target on Pandora Media and gave the company a “buy” rating in a research report on Tuesday, August 15th. Three equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Pandora Media has a consensus rating of “Hold” and a consensus target price of $10.94.
Shares of Pandora Media (P) opened at $5.01 on Tuesday. Pandora Media has a 12 month low of $4.44 and a 12 month high of $13.72. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 1.58.
Pandora Media (NYSE:P) last released its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $378.60 million for the quarter, compared to the consensus estimate of $380.54 million. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. Pandora Media’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) EPS. analysts anticipate that Pandora Media will post -1.09 earnings per share for the current fiscal year.
In other Pandora Media news, General Counsel Stephen G. Bene sold 7,967 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total transaction of $40,711.37. Following the transaction, the general counsel now owns 330,865 shares of the company’s stock, valued at approximately $1,690,720.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO John Trimble sold 10,204 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total value of $52,142.44. Following the transaction, the executive now directly owns 454,645 shares in the company, valued at approximately $2,323,235.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,682 shares of company stock worth $192,555. Corporate insiders own 2.59% of the company’s stock.
Large investors have recently bought and sold shares of the business. GSA Capital Partners LLP acquired a new position in shares of Pandora Media in the 3rd quarter valued at $259,000. Cubist Systematic Strategies LLC bought a new stake in shares of Pandora Media in the 3rd quarter valued at $1,865,000. Alyeska Investment Group L.P. increased its position in shares of Pandora Media by 21.3% in the 3rd quarter. Alyeska Investment Group L.P. now owns 5,165,300 shares of the Internet radio service’s stock valued at $39,773,000 after buying an additional 906,180 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Pandora Media in the 3rd quarter valued at $180,000. Finally, Cowen Inc. increased its position in shares of Pandora Media by 70.3% in the 3rd quarter. Cowen Inc. now owns 69,500 shares of the Internet radio service’s stock valued at $535,000 after buying an additional 28,700 shares in the last quarter.
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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