Pandora Media, Inc. (P) Lifted to Hold at BidaskClub
Pandora Media, Inc. (NYSE:P) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.
A number of other research analysts also recently weighed in on P. Cowen and Company cut their price target on shares of Pandora Media from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Tuesday, May 9th. William Blair restated an “outperform” rating on shares of Pandora Media in a report on Tuesday, May 9th. Pacific Crest restated an “underweight” rating and set a $9.00 price target on shares of Pandora Media in a report on Tuesday, May 9th. Wedbush restated an “outperform” rating and set a $15.00 price target on shares of Pandora Media in a report on Tuesday, May 9th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $15.00 price target (down previously from $16.00) on shares of Pandora Media in a report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $12.07.
Shares of Pandora Media (NYSE P) traded down 2.59% on Friday, reaching $8.27. The company’s stock had a trading volume of 4,989,659 shares. Pandora Media has a 1-year low of $6.76 and a 1-year high of $14.98. The stock’s market capitalization is $2.01 billion. The stock has a 50-day moving average of $8.89 and a 200 day moving average of $10.31.
Pandora Media (NYSE:P) last released its earnings results 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. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The company had revenue of $376.83 million during the quarter, compared to the consensus estimate of $367.51 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts forecast that Pandora Media will post ($0.51) EPS for the current year.
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In other Pandora Media news, insider Christopher Douglas Martin sold 3,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $9.18, for a total transaction of $27,540.00. Following the sale, the insider now directly owns 257,921 shares in the company, valued at $2,367,714.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stephen G. Bene sold 6,538 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $55,049.96. The disclosure for this sale can be found here. Insiders sold 40,366 shares of company stock worth $342,162 over the last 90 days. 2.59% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Falcon Point Capital LLC bought a new position in Pandora Media during the second quarter worth approximately $102,000. Prudential Financial Inc. bought a new position in Pandora Media during the second quarter worth approximately $109,000. Symmetry Peak Management LLC bought a new position in Pandora Media during the second quarter worth approximately $112,000. Aperio Group LLC bought a new position in Pandora Media during the second quarter worth approximately $115,000. Finally, Virtu Financial LLC bought a new position in Pandora Media during the second quarter worth approximately $121,000.
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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