Pandora Media PT Raised to $45.00 (P)
Equities researchers at Pacific Crest boosted their price target on shares of Pandora Media (NYSE:P) from $32.00 to $45.00 in a research report issued on Thursday, Analyst RN reports. The firm currently has an “outperform” rating on the stock. Pacific Crest’s target price points to a potential upside of 25.59% from the stock’s previous close.
Shares of Pandora Media (NYSE:P) opened at 35.83 on Thursday. Pandora Media has a 52-week low of $11.42 and a 52-week high of $37.95. The stock has a 50-day moving average of $32.05 and a 200-day moving average of $26.12. The company’s market cap is $6.960 billion. Pandora Media also was the recipient of unusually large options trading on Wednesday. Investors bought 29,943 call options on the company. This represents an increase of approximately 217% compared to the typical volume of 9,457 call options.
Pandora Media (NYSE:P) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.27 by $0.16. The company had revenue of $200.00 million for the quarter, compared to the consensus estimate of $201.00 million. During the same quarter last year, the company posted ($0.04) earnings per share. Pandora Media’s revenue was up 52.4% compared to the same quarter last year.
Several other analysts have also recently commented on the stock. Analysts at Barrington Research raised their price target on shares of Pandora Media to $40.00 in a research note to investors on Tuesday. Separately, analysts at Canaccord Genuity raised their price target on shares of Pandora Media from $35.00 to $43.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company raised their price target on shares of Pandora Media to $41.00 in a research note to investors on Monday. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have given a buy rating to the company’s stock. Pandora Media presently has a consensus rating of “Hold” and an average target price of $29.29.
In other Pandora Media news, Director Robert M. Kavner sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $35.51, for a total value of $355,100.00. The sale 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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