UBS AG Downgrades Pandora Media to Hold (P)
Pandora Media (NYSE:P) was downgraded by equities researchers at UBS AG from a “buy” rating to a “hold” rating in a research report issued on Friday, Stock Ratings Network reports. They currently have a $23.00 target price on the stock. UBS AG’s price target would suggest a potential upside of 21.63% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus downgraded shares of Pandora Media from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $21.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Raymond James downgraded shares of Pandora Media from an “outperform” rating to a “market perform” rating in a research note to investors on Friday. Finally, analysts at BTIG Research raised their price target on shares of Pandora Media from $3.75 to $10.00 in a research note to investors on Thursday. They now have a “sell” rating on the stock.
Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.57.
Shares of Pandora Media (NYSE:P) remained flat at $18.91 during trading on Friday. The stock had a trading volume of 10,745,666 shares. Pandora Media has a 1-year low of $7.08 and a 1-year high of $21.98. The stock has a 50-day moving average of $19.3 and a 200-day moving average of $15.59. The company’s market cap is $3.316 billion. Pandora Media also was the target of unusually large options trading activity on Friday. Stock investors purchased 31,039 call options on the stock. This is an increase of 195% compared to the typical volume of 10,514 call options.
Pandora Media (NYSE:P) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.02. The company had revenue of $157.40 million for the quarter, compared to the consensus estimate of $156.35 million. The company’s quarterly revenue was up 55.4% on a year-over-year basis. On average, analysts predict that Pandora Media will post $0.04 earnings per share for the current fiscal year.
In other Pandora Media news, EVP Thomas Conrad unloaded 55,000 shares of the company’s stock on the open market in a transaction that occured on Friday, August 16th. The shares were sold at an average price of $20.95, for a total value of $1,152,250.00. Following the completion of the transaction, the executive vice president now directly owns 392,190 shares of the company’s stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Pandora Media, Inc (NYSE:P), is an Internet radio in the United States.
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