Pandora Media Coverage Initiated by Analysts at FBR Capital Markets (P)
Stock analysts at FBR Capital Markets assumed coverage on shares of Pandora Media (NYSE:P) in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating and a $25.00 price target on the stock. FBR Capital Markets’ price target would indicate a potential downside of 5.98% from the stock’s previous close.
In other Pandora Media news, EVP Thomas Conrad sold 55,000 shares of the stock on the open market in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $26.31, for a total value of $1,447,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on P. Analysts at Pacific Crest raised their price target on shares of Pandora Media from $24.00 to $32.00 in a research note to investors on Thursday, October 17th. They now have an “outperform” rating on the stock. Separately, 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, October 14th. They now have an “outperform” rating on the stock. Finally, 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. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company. Pandora Media currently has a consensus rating of “Hold” and an average price target of $21.82.
Shares of Pandora Media (NYSE:P) traded down 3.20% during mid-day trading on Wednesday, hitting $26.59. The stock had a trading volume of 6,765,217 shares. Pandora Media has a 52 week low of $7.08 and a 52 week high of $24.43. The stock has a 50-day moving average of $19.76 and a 200-day moving average of $16.37. The company’s market cap is $4.691 billion.
Pandora Media (NYSE:P) last posted its quarterly earnings results 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.
Pandora Media, Inc (NYSE:P), is an Internet radio in the United States.
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