Pandora Media, Inc. (P) Stock Rating Reaffirmed by Morgan Stanley
Pandora Media, Inc. (NYSE:P)‘s stock had its “overweight” rating reiterated by analysts at Morgan Stanley in a report released on Wednesday. They currently have a $12.00 target price on the Internet radio service’s stock. Morgan Stanley’s price target indicates a potential upside of 39.70% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. Nomura dropped their price objective on shares of Pandora Media from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Tuesday, May 9th. B. Riley restated a “buy” rating and set a $15.00 price objective on shares of Pandora Media in a report on Tuesday, May 9th. Piper Jaffray Companies set a $18.00 price objective on shares of Pandora Media and gave the stock a “buy” rating in a report on Saturday, June 10th. Wedbush restated a “buy” rating on shares of Pandora Media in a report on Tuesday, August 1st. Finally, Credit Suisse Group restated a “neutral” rating and set a $8.95 price objective (up from $8.55) on shares of Pandora Media in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.07.
Shares of Pandora Media (NYSE P) traded down 1.572% during midday trading on Wednesday, reaching $8.455. The company’s stock had a trading volume of 498,372 shares. The stock’s 50 day moving average is $8.87 and its 200 day moving average is $10.23. The stock’s market capitalization is $2.05 billion. 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) 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 business had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. During the same period last year, the business posted ($0.12) earnings per share. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts forecast that Pandora Media will post ($0.51) EPS for the current fiscal year.
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In related news, CRO John Trimble sold 10,547 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $88,805.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher W. Phillips sold 10,322 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $86,911.24. Following the transaction, the insider now owns 423,872 shares in the company, valued at approximately $3,569,002.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,366 shares of company stock worth $342,162. Insiders own 2.59% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in P. Stoneridge Investment Partners LLC increased its position in Pandora Media by 54.1% in the first quarter. Stoneridge Investment Partners LLC now owns 89,225 shares of the Internet radio service’s stock valued at $1,054,000 after buying an additional 31,339 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Pandora Media during the first quarter valued at $446,000. SG Americas Securities LLC acquired a new position in Pandora Media during the second quarter valued at $3,141,000. SLS Management LLC increased its position in Pandora Media by 46.0% in the first quarter. SLS Management LLC now owns 695,636 shares of the Internet radio service’s stock valued at $8,215,000 after buying an additional 219,250 shares during the last quarter. Finally, Blair William & Co. IL increased its position in Pandora Media by 12.5% in the first quarter. Blair William & Co. IL now owns 112,955 shares of the Internet radio service’s stock valued at $1,340,000 after buying an additional 12,579 shares during 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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