Pandora Media Inc. (P) Earns Underweight Rating from Pacific Crest
Pandora Media Inc. (NYSE:P)‘s stock had its “underweight” rating restated by stock analysts at Pacific Crest in a research note issued to investors on Monday.
A number of other equities analysts also recently commented on P. B. Riley restated a “buy” rating and issued a $15.00 target price on shares of Pandora Media in a research note on Thursday, June 23rd. Morgan Stanley upgraded Pandora Media from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $11.00 to $15.00 in a research report on Monday, June 27th. Vetr upgraded Pandora Media from a “sell” rating to a “strong-buy” rating and set a $13.64 price objective for the company in a research report on Monday, June 27th. Macquarie reiterated an “outperform” rating and set a $15.00 price objective on shares of Pandora Media in a research report on Thursday, July 7th. Finally, Albert Fried & Company reiterated a “buy” rating on shares of Pandora Media in a research report on Friday, July 8th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $15.81.
Pandora Media (NYSE:P) traded down 3.001% during trading on Monday, hitting $12.445. The stock had a trading volume of 6,784,829 shares. The stock’s 50-day moving average is $14.02 and its 200-day moving average is $12.04. Pandora Media has a 52-week low of $7.10 and a 52-week high of $20.55. The stock’s market capitalization is $2.88 billion.
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Pandora Media (NYSE:P) last issued its earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) EPS 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 company earned $343 million during the quarter, compared to the consensus estimate of $351.48 million. On average, analysts predict that Pandora Media will post ($0.39) earnings per share for the current fiscal year.
In other Pandora Media news, insider Christopher Douglas Martin sold 2,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $13.60, for a total transaction of $27,200.00. Following the sale, the insider now directly owns 344,470 shares of the company’s stock, valued at $4,684,792. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher W. Phillips sold 12,274 shares of the company’s stock in a transaction dated 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 $3,509,867.70. The disclosure for this sale can be found here. Company insiders own 6.64% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC boosted its stake in Pandora Media by 0.3% in the first quarter. TIAA CREF Investment Management LLC now owns 639,383 shares of the Internet radio service’s stock valued at $5,722,000 after buying an additional 1,708 shares during the period. BlackRock Inc. boosted its stake in Pandora Media by 308.2% in the first quarter. BlackRock Inc. now owns 25,287 shares of the Internet radio service’s stock valued at $227,000 after buying an additional 19,093 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Pandora Media by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,032,903 shares of the Internet radio service’s stock valued at $45,044,000 after buying an additional 110,180 shares during the period. Jackson Square Partners LLC boosted its stake in 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 period. Finally, Bayesian Capital Management LP bought a new stake in Pandora Media during the first quarter valued at approximately $172,000.
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.
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