Pandora Media Downgraded to Hold at Stifel Nicolaus (P)
Pandora Media (NYSE:P) was downgraded by stock analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $21.00 price objective on the stock. Stifel Nicolaus’ price objective would suggest a potential downside of 3.27% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Pandora Media (NYSE:P) opened at 21.71 on Friday. 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 $19.31 and a 200-day moving average of $15.54. The company’s market cap is $3.795 billion. Pandora Media also saw unusually large options trading activity on Wednesday. Stock investors bought 5,434 put options on the stock. This represents an increase of 100% compared to the typical daily volume of 2,715 put options.
Pandora Media (NYSE:P) last released its earnings data on Thursday, August 22nd. The company reported $0.04 earnings per share for the quarter, beating the analysts’ 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. Pandora Media’s revenue was up 55.4% compared to the same quarter last year. Analysts expect that Pandora Media will post $0.05 EPS for the current fiscal year.
A number of other firms have also recently commented on P. 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. Separately, 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. Finally, analysts at B. Riley initiated coverage on shares of Pandora Media in a research note to investors on Tuesday. They set a “buy” rating on the stock.
Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.12.
In other Pandora Media news, EVP Thomas Conrad sold 55,000 shares of the company’s stock on the open market in a transaction dated 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 sale, the executive vice president now directly owns 392,190 shares in the company. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Pandora Media, Inc (NYSE:P), is an Internet radio in the United States.
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