Pandora Media Inc. (NYSE:P) Given Consensus Rating of “Buy” by Analysts
Pandora Media Inc. (NYSE:P) has earned an average rating of “Buy” from the thirty-eight research firms that are presently covering the stock. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $15.57.
P has been the topic of several recent research reports. Macquarie reiterated an “outperform” rating and issued a $17.00 price target (up from $16.00) on shares of Pandora Media in a research report on Monday, August 29th. MKM Partners increased their price objective on shares of Pandora Media from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, August 25th. FBR & Co reissued an “outperform” rating and issued a $16.00 price objective on shares of Pandora Media in a research note on Tuesday, August 23rd. Piper Jaffray Cos. set a $18.00 price objective on shares of Pandora Media and gave the stock a “buy” rating in a research note on Friday, August 19th. Finally, Mizuho reissued a “neutral” rating and issued a $11.00 price objective on shares of Pandora Media in a research note on Thursday, August 4th.
In other Pandora Media news, insider Christopher Douglas Martin sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $13.37, for a total transaction of $26,740.00. Following the sale, the insider now owns 336,569 shares of the company’s stock, valued at approximately $4,499,927.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher W. Phillips sold 12,274 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $12.15, for a total transaction of $149,129.10. Following the sale, the insider now directly owns 288,878 shares in the company, valued at approximately $3,509,867.70. The disclosure for this sale can be found here. Company insiders own 6.64% of the company’s stock.
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A number of hedge funds have recently added to or reduced their stakes in P. Jackson Square Partners LLC boosted its stake in shares of Pandora Media by 83.2% in the first quarter. Jackson Square Partners LLC now owns 11,291,361 shares of the Internet radio service’s stock valued at $101,057,000 after buying an additional 5,127,147 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Pandora Media during the second quarter valued at approximately $27,108,000. Tiger Management L.L.C. acquired a new stake in shares of Pandora Media during the second quarter valued at approximately $18,191,000. Point72 Asset Management L.P. acquired a new stake in shares of Pandora Media during the second quarter valued at approximately $17,226,000. Finally, Norges Bank acquired a new stake in shares of Pandora Media during the fourth quarter valued at approximately $15,654,000.
Pandora Media (NYSE:P) traded up 0.52% during mid-day trading on Tuesday, hitting $13.56. 1,687,841 shares of the stock were exchanged. The stock’s market capitalization is $3.13 billion. The company has a 50-day moving average of $13.74 and a 200-day moving average of $11.56. Pandora Media has a 52 week low of $7.10 and a 52 week high of $22.20.
Pandora Media (NYSE:P) last issued its quarterly earnings data on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.04. The company had revenue of $343 million for the quarter, compared to the consensus estimate of $351.48 million. Pandora Media had a negative net margin of 23.04% and a negative return on equity of 25.53%. On average, equities analysts predict that Pandora Media will post ($0.39) EPS for the current fiscal year.
About Pandora Media
Pandora Media, Inc (Pandora) is a music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music, whether through earbuds, car speakers or live on stage. The Company delivers targeted messages to its listeners using a combination of audio, display and video advertisements.
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