Pandora Media Upgraded to Buy at Maxim Group (P)
Pandora Media (NYSE:P) was upgraded by research analysts at Maxim Group from a “hold” rating to a “buy” rating in a report released on Tuesday, AnalystRatingsNetwork.com reports. The firm currently has a $35.00 price target on the stock. Maxim Group’s price target would indicate a potential upside of 36.67% from the company’s current price.
Shares of Pandora Media (NYSE:P) opened at 25.27 on Tuesday. Pandora Media has a one year low of $12.76 and a one year high of $40.44. The stock’s 50-day moving average is $33.19 and its 200-day moving average is $30.66. The company’s market cap is $4.989 billion.
Pandora Media (NYSE:P) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. On average, analysts predict that Pandora Media will post $0.16 earnings per share for the current fiscal year.
In other Pandora Media news, Director Robert Kavner sold 10,000 shares of Pandora Media stock on the open market in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $28.65, for a total transaction of $286,500.00. Following the transaction, the director now directly owns 27,757 shares in the company, valued at approximately $795,238. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at SunTrust initiated coverage on shares of Pandora Media in a research note on Monday. They set a “buy” rating and a $34.00 price target on the stock. Separately, analysts at Wedbush upgraded shares of Pandora Media from a “neutral” rating to an “outperform” rating in a research note on Monday, April 7th. They now have a $35.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Pandora Media to a “neutral” rating in a research note on Wednesday, March 19th. They now have a $37.00 price target on the stock. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Pandora Media has a consensus rating of “Hold” and an average price target of $32.05.
Pandora Media, Inc (NYSE:P), is an Internet radio in the United States.
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