Pandora Media, Inc. (NYSE:P) received a $12.00 price objective from equities research analysts at Stifel Nicolaus in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the Internet radio service’s stock. Stifel Nicolaus’ target price points to a potential upside of 42.86% from the company’s previous close.

A number of other brokerages also recently issued reports on P. BMO Capital Markets reissued a “hold” rating and set a $13.00 price objective on shares of Pandora Media in a research report on Monday, April 17th. Cowen and Company cut their price objective on Pandora Media from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Tuesday, May 9th. William Blair reissued an “outperform” rating on shares of Pandora Media in a research report on Tuesday, May 9th. Pacific Crest reissued an “underweight” rating and set a $9.00 price objective on shares of Pandora Media in a research report on Tuesday, May 9th. Finally, Wedbush reissued an “outperform” rating and set a $15.00 price objective on shares of Pandora Media in a research report on Tuesday, May 9th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.07.

Pandora Media (NYSE:P) opened at 8.40 on Tuesday. The company’s market capitalization is $2.04 billion. The stock has a 50 day moving average of $8.92 and a 200-day moving average of $10.37. Pandora Media has a 12-month low of $6.76 and a 12-month high of $14.98.

Pandora Media (NYSE:P) last issued its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.08. The firm had revenue of $376.83 million during the quarter, compared to the consensus estimate of $367.51 million. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company earned ($0.12) EPS. Equities analysts expect that Pandora Media will post ($0.50) earnings per share for the current year.

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In other news, 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 completion of the sale, the insider now owns 257,921 shares in the company, valued at $2,367,714.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.59% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado raised its position in shares of Pandora Media by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 49,301 shares of the Internet radio service’s stock worth $440,000 after buying an additional 125 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Pandora Media by 1.0% in the first quarter. Asset Management One Co. Ltd. now owns 31,074 shares of the Internet radio service’s stock worth $365,000 after buying an additional 316 shares in the last quarter. Concourse Capital Management LLC raised its position in shares of Pandora Media by 0.4% in the first quarter. Concourse Capital Management LLC now owns 95,378 shares of the Internet radio service’s stock worth $1,126,000 after buying an additional 378 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Pandora Media by 3.8% in the first quarter. Teacher Retirement System of Texas now owns 17,702 shares of the Internet radio service’s stock worth $209,000 after buying an additional 640 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Pandora Media by 0.9% in the second quarter. Voya Investment Management LLC now owns 87,150 shares of the Internet radio service’s stock worth $777,000 after buying an additional 740 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.

Analyst Recommendations for Pandora Media (NYSE:P)

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