Pandora Media Inc. (P) Earns “Underweight” Rating from Pacific Crest
Pandora Media Inc. (NYSE:P)‘s stock had its “underweight” rating reaffirmed by Pacific Crest in a report issued on Monday.
Several other equities analysts have also recently issued reports on P. Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 price objective on shares of Pandora Media in a report on Friday, July 15th. B. Riley reaffirmed a “buy” rating and set a $15.00 price objective on shares of Pandora Media in a report on Sunday, July 3rd. Albert Fried & Company reaffirmed a “buy” rating on shares of Pandora Media in a report on Friday, July 8th. Needham & Company LLC lifted their price objective on Pandora Media from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, July 12th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Pandora Media in a report on Thursday, July 21st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $15.81.
Pandora Media (NYSE:P) traded down 2.845% during trading on Monday, hitting $12.465. The stock had a trading volume of 6,993,802 shares. Pandora Media has a one year low of $7.10 and a one year high of $20.55. The stock’s 50-day moving average is $14.02 and its 200 day moving average is $12.04. The firm’s market cap is $2.88 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/17/pandora-media-inc-p-earns-underweight-rating-from-pacific-crest-2.html
Pandora Media (NYSE:P) last posted its quarterly earnings results 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. Pandora Media had a negative return on equity of 25.53% and a negative net margin of 23.04%. The firm had revenue of $343 million for the quarter, compared to the consensus estimate of $351.48 million. Equities analysts anticipate that Pandora Media will post ($0.39) earnings per share for the current year.
In other news, insider Christopher Douglas Martin sold 2,000 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $13.37, for a total transaction of $26,740.00. Following the completion of the sale, the insider now directly owns 336,569 shares of the company’s stock, valued at approximately $4,499,927.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher W. Phillips sold 12,274 shares of the firm’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 sale, 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. Company insiders own 6.64% of the company’s stock.
Several large investors have recently added to or reduced their stakes in P. Gruss & Co. Inc. bought a new stake in Pandora Media during the second quarter valued at $125,000. Osterweis Capital Management Inc. bought a new stake in Pandora Media during the second quarter valued at $125,000. Passport Capital LLC bought a new stake in Pandora Media during the second quarter valued at $127,000. Franklin Resources Inc. bought a new stake in Pandora Media during the second quarter valued at $144,000. Finally, Nomura Holdings Inc. bought a new stake in Pandora Media during the second quarter valued at $169,000.
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.
Receive News & Ratings for Pandora Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media Inc. and related companies with MarketBeat.com's FREE daily email newsletter.