Pandora Media, Inc. (P) Earns Buy Rating from FBR & Co
Pandora Media, Inc. (NYSE:P)‘s stock had its “buy” rating restated by stock analysts at FBR & Co in a research report issued to clients and investors on Monday. They presently have a $11.00 target price on the Internet radio service’s stock. FBR & Co’s price target points to a potential upside of 30.02% from the company’s previous close.
The analysts wrote, “In this note we outline three ways for P , under the incoming Liberty/Sirius leadership, to generate meaningful upside to our base case SOTP argument for an $11 stock, or to limit downside risk.””
P has been the topic of a number of other reports. Aegis reissued a “buy” rating on shares of Pandora Media in a research report on Wednesday, March 15th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $16.00 price target on shares of Pandora Media in a research report on Wednesday, May 17th. Wedbush reissued an “outperform” rating and set a $15.00 price target on shares of Pandora Media in a research report on Monday, March 13th. Canaccord Genuity reissued a “buy” rating and set a $18.00 price target on shares of Pandora Media in a research report on Thursday, March 30th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $10.50 price target (down from $16.00) on shares of Pandora Media in a research report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Pandora Media presently has an average rating of “Hold” and a consensus target price of $13.31.
Pandora Media (NYSE:P) traded up 2.17% during trading on Monday, reaching $8.46. The company’s stock had a trading volume of 22,267,164 shares. Pandora Media has a 52 week low of $6.76 and a 52 week high of $14.98. The firm has a 50-day moving average price of $9.05 and a 200-day moving average price of $11.55. The firm’s market capitalization is $2.03 billion. Pandora Media also was the recipient of some unusual options trading activity on Monday. Investors purchased 8,017 call options on the company. This is an increase of 203% compared to the average volume of 2,643 call options.
Pandora Media (NYSE:P) last announced its quarterly earnings data on Monday, May 8th. The Internet radio service reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. Pandora Media had a negative net margin of 25.66% and a negative return on equity of 45.15%. The firm had revenue of $316 million for the quarter, compared to analysts’ expectations of $318.15 million. During the same period last year, the firm earned ($0.20) earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that Pandora Media will post ($0.51) EPS for the current fiscal year.
In related news, President Michael S. Herring sold 11,730 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total transaction of $110,027.40. Following the completion of the transaction, the president now directly owns 548,230 shares in the company, valued at approximately $5,142,397.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher Douglas Martin sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $9.18, for a total transaction of $27,540.00. Following the transaction, the insider now owns 257,921 shares of the company’s stock, valued at $2,367,714.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,642 shares of company stock valued at $446,234. 6.64% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC bought a new position in Pandora Media during the first quarter worth about $136,000. Bessemer Group Inc. boosted its position 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 worth $146,000 after buying an additional 110 shares in the last quarter. Waldron LP bought a new position in Pandora Media during the first quarter worth about $167,000. Franklin Resources Inc. boosted its position 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 worth $174,000 after buying an additional 1,190 shares in the last quarter. Finally, Gruss & Co. Inc. boosted its position 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 worth $189,000 after buying an additional 1,000 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.
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