Short Interest in Pandora Media Expands By 17.3% (P)
Pandora Media (NYSE:P) was the target of a significant growth in short interest in April. As of April 30th, there was short interest totalling 15,507,082 shares, a growth of 17.3% from the April 15th total of 13,220,355 shares, AnalystRatings.NET reports. Based on an average daily trading volume, of 15,541,702 shares, the days-to-cover ratio is currently 1.0 days. Approximately 8.1% of the company’s stock are short sold.
In other Pandora Media news, CRO John Trimble unloaded 20,000 shares of the company’s stock on the open market in a transaction dated Thursday, May 15th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the executive now directly owns 85,374 shares in the company, valued at approximately $1,980,677. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on P shares. Analysts at Susquehanna cut their price target on shares of Pandora Media from $41.00 to $30.00 in a research note on Tuesday. They now have a “positive” rating on the stock. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Pandora Media in a research note on Wednesday, May 14th. They now have a $29.00 price target on the stock, down previously from $32.00. Finally, analysts at Raymond James upgraded shares of Pandora Media from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 14th. They now have a $31.00 price target on the stock. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $33.44.
Shares of Pandora Media (NYSE:P) opened at 24.73 on Thursday. Pandora Media has a 1-year low of $13.95 and a 1-year high of $40.44. The stock’s 50-day moving average is $25.6 and its 200-day moving average is $30.41. The company’s market cap is $5.081 billion.
Pandora Media (NYSE:P) last issued its quarterly earnings data on Thursday, April 24th. The company reported ($0.13) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.14) by $0.01. The company had revenue of $194.30 million for the quarter, compared to the consensus estimate of $174.94 million. Pandora Media’s revenue was up 68.8% compared to the same quarter last year. On average, analysts predict that Pandora Media will post $0.17 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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