Pandora Media PT Raised to $32.00 (P)
Equities researchers at BMO Capital Markets upped their price target on shares of Pandora Media (NYSE:P) from $25.00 to $32.00 in a research report issued on Thursday, AR Network reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 21.03% from the stock’s previous close.
Pandora Media (NYSE:P) traded down 1.67% during mid-day trading on Thursday, hitting $26.44. The stock had a trading volume of 13,645,347 shares. Pandora Media has a 1-year low of $7.08 and a 1-year high of $27.50. The stock has a 50-day moving average of $22.14 and a 200-day moving average of $17.58. The company’s market cap is $4.665 billion.
Pandora Media (NYSE:P) last announced its earnings results on Thursday, August 22nd. The company reported $0.04 earnings per share (EPS) for the quarter, beating the 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 revenue for the quarter was up 55.4% on a year-over-year basis. Analysts expect that Pandora Media will post $0.03 EPS for the current fiscal year.
In other Pandora Media news, Director Crosslink Capital Inc sold 5,200,000 shares of the company’s stock on the open market in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $130,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Pandora Media (NYSE:P) from $30.00 to $35.00 in a research note to investors on Thursday. Separately, analysts at Barrington Research raised their price target on shares of Pandora Media (NYSE:P) to $31.00 in a research note to investors on Wednesday. Finally, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Pandora Media (NYSE:P) in a research note to investors on Wednesday. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $20.77.
Pandora Media, Inc (NYSE:P), is an Internet radio in the United States.
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