Pandora Media, Inc. (P) Given “Buy” Rating at Stifel Nicolaus
Pandora Media, Inc. (NYSE:P)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a research report issued on Tuesday. They currently have a $12.00 target price on the Internet radio service’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 42.86% from the company’s current price.
Several other research firms have also commented on P. Wells Fargo & Company reiterated a “market perform” rating and set a $10.00 price objective (down previously from $12.00) on shares of Pandora Media in a research report on Monday, June 12th. B. Riley reiterated a “buy” rating and set a $15.00 price objective on shares of Pandora Media in a research report on Tuesday, May 9th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $7.00 price objective (down previously from $12.00) on shares of Pandora Media in a research report on Sunday, June 18th. William Blair reiterated an “outperform” rating on shares of Pandora Media in a research report on Tuesday, May 9th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $11.00 price objective (down previously from $12.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.07.
Shares of Pandora Media (NYSE P) traded up 4.09% on Tuesday, reaching $8.40. 9,041,154 shares of the company’s stock traded hands. The stock’s market cap is $2.04 billion. Pandora Media has a 52-week low of $6.76 and a 52-week high of $14.98. The firm’s 50-day moving average is $8.92 and its 200-day moving average is $10.37.
Pandora Media (NYSE:P) last posted its earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.08. The company had revenue of $376.83 million during the quarter, compared to analysts’ expectations of $367.51 million. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. Pandora Media’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted ($0.12) earnings per share. Analysts anticipate that Pandora Media will post ($0.50) EPS for the current fiscal year.
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In other Pandora Media news, insider Christopher Douglas Martin sold 3,000 shares of Pandora Media stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $9.18, for a total transaction of $27,540.00. Following the completion of the sale, the insider now directly owns 257,921 shares in the company, valued at approximately $2,367,714.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.59% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. boosted its position in Pandora Media by 789.9% in the second quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock valued at $27,758,000 after buying an additional 2,737,635 shares in the last quarter. First Trust Advisors LP boosted its position in Pandora Media by 51.9% in the second quarter. First Trust Advisors LP now owns 7,183,485 shares of the Internet radio service’s stock valued at $64,077,000 after buying an additional 2,454,296 shares in the last quarter. Alliancebernstein L.P. boosted its position in Pandora Media by 44.0% in the first quarter. Alliancebernstein L.P. now owns 5,660,574 shares of the Internet radio service’s stock valued at $66,851,000 after buying an additional 1,729,354 shares in the last quarter. York Capital Management Global Advisors LLC purchased a new position in Pandora Media during the first quarter valued at about $20,025,000. Finally, Nordea Investment Management AB purchased a new position in Pandora Media during the second quarter valued at about $14,821,000.
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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