Pandora Media Inc. (P) Rating Reiterated by SunTrust Banks Inc.
Pandora Media Inc. (NYSE:P)‘s stock had its “buy” rating reiterated by equities researchers at SunTrust Banks Inc. in a research report issued on Tuesday. They currently have a $18.00 price objective on the Internet radio service’s stock. SunTrust Banks Inc.’s target price would indicate a potential upside of 33.43% from the company’s current price.
Several other analysts have also issued reports on P. B. Riley upgraded shares of Pandora Media from a “neutral” rating to a “buy” rating and raised their price target for the stock from $10.00 to $15.00 in a research report on Monday, May 23rd. Vetr lowered shares of Pandora Media from a “hold” rating to a “sell” rating and set a $10.74 target price on the stock. in a research report on Thursday, May 26th. Citigroup Inc. reiterated a “buy” rating and set a $16.00 target price on shares of Pandora Media in a research report on Wednesday, June 8th. Axiom Securities upgraded shares of Pandora Media from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, June 9th. Finally, Albert Fried & Company reiterated a “buy” rating on shares of Pandora Media in a research report on Monday, June 13th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $16.08.
Pandora Media (NYSE:P) traded up 1.26% during midday trading on Tuesday, reaching $13.66. 909,384 shares of the company traded hands. The firm’s market capitalization is $3.16 billion. Pandora Media has a 12 month low of $7.10 and a 12 month high of $22.20. The firm’s 50 day moving average price is $13.74 and its 200 day moving average price is $11.56.
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Pandora Media (NYSE:P) last announced its earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. The firm 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, analysts expect that Pandora Media will post ($0.39) earnings per share for the current year.
In other news, insider Christopher Douglas Martin sold 6,667 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $14.32, for a total value of $95,471.44. Following the sale, the insider now directly owns 347,236 shares in the company, valued at approximately $4,972,419.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher W. Phillips sold 12,274 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $12.15, for a total transaction of $149,129.10. Following the completion of the transaction, the insider now owns 288,878 shares of the company’s stock, valued at approximately $3,509,867.70. The disclosure for this sale can be found here. 6.64% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Nomura Holdings Inc. acquired a new position in shares of Pandora Media during the second quarter worth about $169,000. Public Employees Retirement System of Ohio raised its position in Pandora Media by 6.6% in the second quarter. Public Employees Retirement System of Ohio now owns 45,961 shares of the Internet radio service’s stock valued at $572,000 after buying an additional 2,860 shares during the last quarter. Freshford Capital Management LLC purchased a new position in Pandora Media during the second quarter valued at about $6,163,000. Amalgamated Bank raised its position in Pandora Media by 35.7% in the second quarter. Amalgamated Bank now owns 33,936 shares of the Internet radio service’s stock valued at $452,000 after buying an additional 8,933 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Pandora Media by 4.5% in the second quarter. Legal & General Group Plc now owns 15,023 shares of the Internet radio service’s stock valued at $187,000 after buying an additional 650 shares during the last quarter.
Pandora Media Company Profile
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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