Pandora Media Inc. (P) Price Target Increased to $19.59 by Analysts at Morgan Stanley
Pandora Media Inc. (NYSE:P) had its price target increased by investment analysts at Morgan Stanley from $7.10 to $19.59 in a report issued on Wednesday. The brokerage presently has an “overweight” rating on the Internet radio service’s stock. Morgan Stanley’s price target points to a potential upside of 56.72% from the company’s previous close.
Several other research analysts have also commented on the stock. Goldman Sachs Group Inc. raised shares of Pandora Media from a “buy” rating to a “conviction-buy” rating and raised their price objective for the company from $17.00 to $19.00 in a research note on Tuesday, October 4th. Bank of America Corp. reissued a “neutral” rating and issued a $14.00 price objective (up previously from $12.00) on shares of Pandora Media in a research note on Tuesday, August 23rd. Zacks Investment Research lowered shares of Pandora Media from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. Albert Fried & Company reissued a “buy” rating on shares of Pandora Media in a research note on Friday, July 8th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $13.00 price objective on shares of Pandora Media in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $15.80.
Pandora Media (NYSE:P) traded up 0.0088% on Wednesday, hitting $12.5011. 402,228 shares of the company traded hands. The stock’s 50-day moving average is $13.91 and its 200 day moving average is $12.12. The firm’s market capitalization is $2.89 billion. Pandora Media has a 12 month low of $7.10 and a 12 month high of $19.59.
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Pandora Media (NYSE:P) last released 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. The firm earned $343 million during the quarter, compared to analysts’ expectations of $351.48 million. Pandora Media had a negative net margin of 23.04% and a negative return on equity of 25.53%. Equities analysts forecast that Pandora Media will post ($0.39) EPS for the current fiscal year.
In other Pandora Media news, insider Christopher W. Phillips sold 12,274 shares of the company’s 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 transaction, the insider now owns 288,878 shares in the company, valued at approximately $3,509,867.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Douglas Martin sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $13.37, for a total value of $26,740.00. Following the completion of the transaction, the insider now owns 336,569 shares of the company’s stock, valued at approximately $4,499,927.53. The disclosure for this sale can be found here. Corporate insiders own 6.64% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Gruss & Co. Inc. bought a new position in Pandora Media during the second quarter worth $125,000. Osterweis Capital Management Inc. bought a new position in Pandora Media during the second quarter worth $125,000. Passport Capital LLC bought a new position in Pandora Media during the second quarter worth $127,000. Franklin Resources Inc. bought a new position in Pandora Media during the second quarter worth $144,000. Finally, Nomura Holdings Inc. bought a new position in Pandora Media during the second quarter worth $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.
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