Pandora Media Inc. (P) PT Lowered to $14.00 at Credit Suisse Group AG
Pandora Media Inc. (NYSE:P) had its price target decreased by Credit Suisse Group AG to $14.00 in a report issued on Monday. Credit Suisse Group AG’s target price indicates a potential upside of 9.12% from the stock’s previous close.
Other research analysts have also issued reports about the company. B. Riley reissued a “buy” rating and set a $18.00 price target on shares of Pandora Media in a report on Wednesday, September 7th. Pacific Crest reissued a “sell” rating on shares of Pandora Media in a report on Monday, September 12th. Vetr raised Pandora Media from a “buy” rating to a “strong-buy” rating and set a $16.27 price target on the stock in a report on Monday, September 12th. Piper Jaffray Cos. reissued a “buy” rating on shares of Pandora Media in a report on Tuesday, September 13th. Finally, Goldman Sachs Group Inc. raised Pandora Media from a “buy” rating to a “conviction-buy” rating and raised their price target for the company from $17.00 to $19.00 in a report on Tuesday, October 4th. Three 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 assigned a strong buy rating to the stock. Pandora Media has an average rating of “Buy” and an average target price of $15.81.
Shares of Pandora Media (NYSE:P) opened at 12.83 on Monday. Pandora Media has a 52-week low of $7.10 and a 52-week high of $20.55. The stock’s market capitalization is $2.96 billion. The company has a 50 day moving average of $14.02 and a 200 day moving average of $12.04.
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 https://www.americanbankingnews.com/2016/10/17/pandora-media-inc-p-pt-lowered-to-14-00-at-credit-suisse-group-ag.html
Pandora Media (NYSE:P) last announced its quarterly earnings data on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $351.48 million. Analysts predict that Pandora Media will post ($0.39) EPS for the current fiscal year.
In other Pandora Media news, insider Christopher Douglas Martin sold 6,667 shares of the stock in a transaction dated 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 sale, the insider now directly owns 347,236 shares in the company, valued at $4,972,419.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher W. Phillips sold 12,274 shares of the stock in a transaction dated 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 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.
Large investors have recently made changes to their positions in the company. Perigon Wealth Management increased its stake in shares of Pandora Media by 2.2% in the third quarter. Perigon Wealth Management now owns 64,970 shares of the Internet radio service’s stock valued at $1,386,000 after buying an additional 1,402 shares during the period. J. Goldman & Company boosted its position in Pandora Media by 18.8% in the third quarter. J. Goldman & Company now owns 950,000 shares of the Internet radio service’s stock valued at $20,273,000 after buying an additional 150,000 shares in the last quarter. Segantii Capital Management Ltd purchased a new position in Pandora Media during the fourth quarter valued at $2,710,000. Nordea Investment Management AB purchased a new position in Pandora Media during the fourth quarter valued at $4,616,000. Finally, Kopernik Global Investors LLC boosted its position in Pandora Media by 183.7% in the fourth quarter. Kopernik Global Investors LLC now owns 1,676,805 shares of the Internet radio service’s stock valued at $22,486,000 after buying an additional 1,085,844 shares in 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.
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.