Pandora Media, Inc. (P) Lifted to Sell at BidaskClub
Pandora Media, Inc. (NYSE:P) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Friday.
Several other brokerages also recently commented on P. Vetr upgraded Pandora Media from a “buy” rating to a “strong-buy” rating and set a $14.48 target price on the stock in a research note on Tuesday, February 28th. Wedbush restated an “outperform” rating and issued a $15.00 price target on shares of Pandora Media in a research note on Monday, March 13th. Pacific Crest restated an “underweight” rating on shares of Pandora Media in a research note on Saturday, March 11th. Macquarie restated an “outperform” rating and issued a $14.00 price target on shares of Pandora Media in a research note on Saturday, March 11th. Finally, Canaccord Genuity restated a “buy” rating and issued a $18.00 price target on shares of Pandora Media in a research note on Thursday, March 30th. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Pandora Media currently has an average rating of “Hold” and a consensus target price of $13.31.
Shares of Pandora Media (NYSE:P) traded up 6.15% during mid-day trading on Friday, reaching $8.28. The company had a trading volume of 32,192,962 shares. The company’s market capitalization is $1.99 billion. The company has a 50 day moving average price of $9.05 and a 200 day moving average price of $11.55. Pandora Media has a one year low of $6.76 and a one year high of $14.98.
Pandora Media (NYSE:P) last issued its earnings results on Monday, May 8th. The Internet radio service reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.13. Pandora Media had a negative return on equity of 45.15% and a negative net margin of 25.66%. The business had revenue of $316 million for the quarter, compared to the consensus estimate of $318.15 million. During the same period last year, the business posted ($0.20) EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Pandora Media will post ($0.51) EPS for the current year.
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In other Pandora Media news, EVP David Gerbitz sold 8,103 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $9.38, for a total transaction of $76,006.14. Following the completion of the transaction, the executive vice president now owns 255,943 shares in the company, valued at $2,400,745.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Douglas Martin sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $9.18, for a total value of $27,540.00. Following the transaction, the insider now owns 257,921 shares of the company’s stock, valued at approximately $2,367,714.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,642 shares of company stock valued at $446,234. 6.64% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in P. Two Sigma Securities LLC bought a new stake in Pandora Media during the first quarter valued at $136,000. Bessemer Group Inc. increased its stake in Pandora Media by 1.0% in the fourth quarter. Bessemer Group Inc. now owns 11,228 shares of the Internet radio service’s stock valued at $146,000 after buying an additional 110 shares in the last quarter. Waldron LP bought a new stake in Pandora Media during the first quarter valued at $167,000. Franklin Resources Inc. increased its stake in Pandora Media by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 13,315 shares of the Internet radio service’s stock valued at $174,000 after buying an additional 1,190 shares in the last quarter. Finally, Gruss & Co. Inc. increased its stake in Pandora Media by 6.7% in the first quarter. Gruss & Co. Inc. now owns 16,000 shares of the Internet radio service’s stock valued at $189,000 after buying an additional 1,000 shares in the last quarter.
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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