Pandora Media Now Covered by Analysts at Nomura (P)
Nomura initiated coverage on shares of Pandora Media (NYSE:P) in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $35.00 price target on the stock. Nomura’s target price would indicate a potential upside of 2.55% from the company’s current price.
The analysts wrote, “In addition, mobile monetization should also improve for several reasons, driving revenue per user much higher in 2014,” the report noted. “That said, on the cost side, we are more cautious on music content cost trends, which are variable based on listenership, rendering Pandora’s profit margins the lowest in the group. This could change in the coming years, but the outcome of Pandora’s arbitration process is very much an unknown. On balance, owing in part to valuation, we await a better entry point.”
Pandora Media (NYSE:P) traded up 1.73% on Wednesday, hitting $34.719. 6,355,765 shares of the company’s stock traded hands. Pandora Media has a one year low of $10.10 and a one year high of $34.46. The stock has a 50-day moving average of $28.99 and a 200-day moving average of $24.43. The company’s market cap is $6.744 billion.
Pandora Media (NYSE:P) last announced its earnings results on Thursday, November 21st. The company reported $0.06 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.06. The company had revenue of $181.60 million for the quarter, compared to the consensus estimate of $175.60 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 50.0% on a year-over-year basis.
In other Pandora Media news, Director Robert Kavner sold 10,000 shares of Pandora Media stock on the open market in a transaction dated Monday, January 6th. The stock was sold at an average price of $30.71, for a total transaction of $307,100.00. Following the completion of the sale, the director now directly owns 27,757 shares of the company’s stock, valued at approximately $852,417. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets initiated coverage on shares of Pandora Media in a research note to investors on Tuesday. They set an “outperform” rating on the stock. Separately, analysts at FBN Securities initiated coverage on shares of Pandora Media in a research note to investors on Tuesday. They set an “outperform” rating on the stock. Finally, analysts at CRT Capital reiterated a “fair value” rating on shares of Pandora Media in a research note to investors on Friday, January 10th. They now have a $35.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.09.
Pandora Media, Inc (NYSE:P), is an Internet radio in the United States.
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