Pandora Media Inc. (P) Given Hold Rating at Wells Fargo & Co.
Pandora Media Inc. (NYSE:P)‘s stock had its “hold” rating reiterated by Wells Fargo & Co. in a note issued to investors on Wednesday.
Several other brokerages have also recently commented on P. Bank of America Corp. reiterated a “neutral” rating and issued a $14.00 target price (up from $12.00) on shares of Pandora Media in a report on Tuesday, August 23rd. Albert Fried & Company reiterated a “buy” rating on shares of Pandora Media in a report on Friday, July 8th. RBC Capital Markets reiterated a “sector perform” rating and issued a $13.00 target price on shares of Pandora Media in a report on Monday, July 25th. Macquarie reiterated an “outperform” rating and issued a $15.00 target price on shares of Pandora Media in a report on Thursday, July 7th. Finally, MKM Partners increased their price target on Pandora Media from $11.50 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the company. Pandora Media has a consensus rating of “Buy” and a consensus target price of $16.08.
Pandora Media (NYSE:P) traded down 0.842% during mid-day trading on Wednesday, hitting $13.535. 1,478,315 shares of the stock were exchanged. Pandora Media has a 1-year low of $7.10 and a 1-year high of $22.20. The stock has a 50 day moving average price of $13.74 and a 200 day moving average price of $11.58. The company’s market capitalization is $3.13 billion.
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Pandora Media (NYSE:P) last released its quarterly earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. The company had revenue of $343 million for the quarter, compared to analysts’ expectations of $351.48 million. Pandora Media had a negative return on equity of 25.53% and a negative net margin of 23.04%. On average, equities analysts anticipate that Pandora Media will post ($0.39) earnings per share for the current fiscal year.
In other news, insider Christopher Douglas Martin sold 6,667 shares of Pandora Media stock in a transaction that occurred 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 sale, the insider now directly owns 347,236 shares in the company, valued at approximately $4,972,419.52. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher W. Phillips sold 12,274 shares of Pandora Media stock in a transaction that occurred 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 sale, the insider now owns 288,878 shares in the company, valued at $3,509,867.70. The disclosure for this sale can be found here. 6.64% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of P. Gruss & Co. Inc. purchased a new stake in Pandora Media during the second quarter valued at $125,000. Osterweis Capital Management Inc. purchased a new stake in Pandora Media during the second quarter valued at $125,000. Passport Capital LLC purchased a new stake in Pandora Media during the second quarter valued at $127,000. Legal & General Group Plc raised its stake in Pandora Media by 46.1% in the first quarter. Legal & General Group Plc now owns 14,373 shares of the Internet radio service’s stock valued at $129,000 after buying an additional 4,534 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Pandora Media during the second quarter valued at $144,000.
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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