Pandora Media Price Target Increased to $32.00 by Analysts at Pacific Crest (P)
Analysts at Pacific Crest upped their target price on shares of Pandora Media (NYSE:P) from $24.00 to $32.00 in a research report issued to clients and investors on Thursday, Stock Ratings News reports. The firm currently has an “outperform” rating on the stock. Pacific Crest’s price objective would indicate a potential upside of 19.85% from the stock’s previous close.
In other Pandora Media news, Director Robert Kavner sold 46,000 shares of the company’s stock on the open market in a transaction dated Friday, October 4th. The stock was sold at an average price of $27.38, for a total transaction of $1,259,480.00. Following the sale, the director now directly owns 27,757 shares of the company’s stock, valued at approximately $759,987. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Pandora Media (NYSE:P) opened at 26.70 on Thursday. Pandora Media has a 52-week low of $7.08 and a 52-week high of $27.93. The stock’s 50-day moving average is $23.63 and its 200-day moving average is $18.39. The company’s market cap is $4.710 billion.
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. On average, analysts predict that Pandora Media will post $0.03 earnings per share for the current fiscal year.
A number of other firms have also recently commented on P. Analysts at Cowen and Company raised their price target on shares of Pandora Media from $23.00 to $29.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Pandora Media from $25.00 to $32.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Pandora Media from $30.00 to $35.00 in a research note to investors on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $21.68.
Pandora Media, Inc (NYSE:P), is an Internet radio in the United States.
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