Pandora Media Inc. (P) Earns Hold Rating from Wells Fargo & Co.
Pandora Media Inc. (NYSE:P)‘s stock had its “hold” rating reaffirmed by equities research analysts at Wells Fargo & Co. in a research report issued to clients and investors on Wednesday.
A number of other equities research analysts also recently commented on the company. Bank of America Corp. reaffirmed a “neutral” rating and set a $14.00 target price (up previously from $12.00) on shares of Pandora Media in a report on Tuesday, August 23rd. Albert Fried & Company restated a “buy” rating on shares of Pandora Media in a research report on Friday, July 8th. RBC Capital Markets restated a “sector perform” rating and issued a $13.00 price objective on shares of Pandora Media in a research report on Monday, July 25th. Macquarie restated an “outperform” rating and issued a $15.00 price objective on shares of Pandora Media in a research report on Thursday, July 7th. Finally, MKM Partners upped their price objective on Pandora Media from $11.50 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. Pandora Media has a consensus rating of “Buy” and a consensus price target of $16.08.
Pandora Media (NYSE:P) traded up 0.22% during trading on Wednesday, reaching $13.68. 4,561,945 shares of the company’s stock traded hands. The firm’s market cap is $3.16 billion. Pandora Media has a one year low of $7.10 and a one year high of $22.20. The company has a 50 day moving average of $13.74 and a 200 day moving average of $11.58.
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Pandora Media (NYSE:P) last released its earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.04. Pandora Media had a negative return on equity of 25.53% and a negative net margin of 23.04%. The firm earned $343 million during the quarter, compared to the consensus estimate of $351.48 million. Equities research analysts predict that Pandora Media will post ($0.39) EPS for the current year.
In other news, insider Christopher Douglas Martin sold 6,667 shares of the business’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $14.32, for a total value of $95,471.44. Following the completion of the transaction, the insider now directly owns 347,236 shares of the company’s stock, valued at $4,972,419.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher W. Phillips sold 12,274 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $12.15, for a total value of $149,129.10. Following the completion of the transaction, the insider now directly owns 288,878 shares of the company’s stock, valued at $3,509,867.70. The disclosure for this sale can be found here. 6.64% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in P. Nomura Holdings Inc. acquired a new position in Pandora Media during the second quarter valued at approximately $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 acquired a new position in Pandora Media during the second quarter valued at approximately $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.
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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