Pandora Media Now Covered by Analysts at Morgan Stanley (P)
Analysts at Morgan Stanley assumed coverage on shares of Pandora Media (NYSE:P) in a research report issued to clients and investors on Wednesday. The firm set an “equal weight” rating and a $28.00 price target on the stock. Morgan Stanley’s price objective would indicate a potential upside of 2.83% from the stock’s previous close.
In other Pandora Media news, CRO John Trimble sold 20,000 shares of Pandora Media stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $26.94, for a total value of $538,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Pandora Media (NYSE:P) opened at 27.23 on Wednesday. Pandora Media has a 1-year low of $14.43 and a 1-year high of $40.44. The stock has a 50-day moving average of $24.70 and a 200-day moving average of $30.06. The company’s market cap is $5.594 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.
A number of other analysts have also recently weighed in on P. Analysts at SunTrust reiterated a “buy” rating on shares of Pandora Media in a research note on Wednesday, June 4th. Separately, analysts at Susquehanna cut their price target on shares of Pandora Media from $41.00 to $30.00 in a research note on Tuesday, May 20th. They now have a “positive” rating on the stock. Finally, 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $33.52.
Pandora Media, Inc (NYSE:P), is an Internet radio in the United States.
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