Pandora Media Inc. (P) Price Target Lowered to $14.00 at Credit Suisse Group AG
Pandora Media Inc. (NYSE:P) had its price objective dropped by research analysts at Credit Suisse Group AG to $14.00 in a report issued on Monday. Credit Suisse Group AG’s price objective would indicate a potential upside of 9.12% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. Bank of America Corp. cut Pandora Media from a “neutral” rating to an “underperform” rating in a report on Monday. Zacks Investment Research cut Pandora Media from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. Goldman Sachs Group Inc. upgraded Pandora Media from a “buy” rating to a “conviction-buy” rating and increased their price objective for the stock from $17.00 to $19.00 in a report on Tuesday, October 4th. B. Riley reiterated a “buy” rating and issued a $18.00 price objective on shares of Pandora Media in a report on Sunday, October 2nd. Finally, Vetr upgraded Pandora Media from a “buy” rating to a “strong-buy” rating and set a $16.06 price objective for the company in a report on Thursday, September 29th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.81.
Shares of Pandora Media (NYSE:P) opened at 12.83 on Monday. The company’s market cap is $2.96 billion. The stock’s 50 day moving average price is $14.02 and its 200 day moving average price is $12.04. Pandora Media has a 12-month low of $7.10 and a 12-month high of $20.55.
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Pandora Media (NYSE:P) last issued its earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company earned $343 million during 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, analysts forecast that Pandora Media will post ($0.39) EPS for the current year.
In related news, insider Christopher Douglas Martin sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $13.21, for a total value of $26,420.00. Following the completion of the sale, the insider now owns 342,896 shares in the company, valued at $4,529,656.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher W. Phillips sold 12,274 shares of the business’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 value of $149,129.10. Following the completion of the sale, 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. Company insiders own 6.64% of the company’s stock.
Several hedge funds have recently made changes to their positions in P. Gruss & Co. Inc. bought a new stake in Pandora Media during the second quarter worth $125,000. Osterweis Capital Management Inc. bought a new stake in Pandora Media during the second quarter worth $125,000. Passport Capital LLC bought a new stake in Pandora Media during the second quarter worth $127,000. Franklin Resources Inc. bought a new stake in Pandora Media during the second quarter worth $144,000. Finally, Nomura Holdings Inc. bought a new stake in Pandora Media during the second quarter worth $169,000.
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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