Pandora Media, Inc. (NYSE:P)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued on Thursday. They presently have a $11.00 price objective on the Internet radio service’s stock. Needham & Company LLC’s price objective suggests a potential upside of 34.31% from the stock’s current price.

Several other research firms have also issued reports on P. Wells Fargo & Company reiterated a “market perform” rating and set a $10.00 price objective (down from $12.00) on shares of Pandora Media in a research note on Monday, June 12th. Morgan Stanley reiterated an “overweight” rating and set a $12.00 price objective on shares of Pandora Media in a research note on Wednesday, August 23rd. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $7.00 price objective (down from $12.00) on shares of Pandora Media in a research note on Sunday, June 18th. Citigroup Inc. reiterated a “buy” rating and set a $11.00 price objective (down from $12.00) on shares of Pandora Media in a research note on Tuesday, August 1st. Finally, MKM Partners reiterated a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Pandora Media in a research note on Tuesday, May 23rd. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Pandora Media has a consensus rating of “Hold” and an average target price of $12.07.

Shares of Pandora Media (P) traded down 0.37% during midday trading on Thursday, reaching $8.16. 3,445,853 shares of the company traded hands. Pandora Media has a 12 month low of $6.76 and a 12 month high of $14.94. The company’s 50 day moving average is $8.52 and its 200-day moving average is $9.71. The stock’s market capitalization is $1.98 billion.

Pandora Media (NYSE:P) last released its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.08. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The firm had revenue of $376.83 million during the quarter, compared to analyst estimates of $367.51 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts forecast that Pandora Media will post ($0.51) earnings per share for the current fiscal year.

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In other Pandora Media news, EVP David Gerbitz sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $8.34, for a total transaction of $250,200.00. Following the transaction, the executive vice president now owns 335,607 shares of the company’s stock, valued at approximately $2,798,962.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stephen G. Bene sold 6,538 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $55,049.96. The disclosure for this sale can be found here. Insiders have sold a total of 67,366 shares of company stock worth $564,822 in the last ninety days. Insiders own 2.59% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Kopernik Global Investors LLC boosted its stake in shares of Pandora Media by 183.7% during the 4th quarter. Kopernik Global Investors LLC now owns 1,676,805 shares of the Internet radio service’s stock worth $22,486,000 after acquiring an additional 1,085,844 shares during the period. Alta Park Capital LP bought a new position in shares of Pandora Media during the 4th quarter worth approximately $2,007,000. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Pandora Media by 2.2% during the 1st quarter. BlackRock Institutional Trust Company N.A. now owns 5,032,903 shares of the Internet radio service’s stock worth $45,044,000 after acquiring an additional 110,180 shares during the period. Stoneridge Investment Partners LLC boosted its stake in shares of Pandora Media by 54.1% during the 1st quarter. Stoneridge Investment Partners LLC now owns 89,225 shares of the Internet radio service’s stock worth $1,054,000 after acquiring an additional 31,339 shares during the period. Finally, Quinn Opportunity Partners LLC boosted its stake in shares of Pandora Media by 17.9% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 559,262 shares of the Internet radio service’s stock worth $4,989,000 after acquiring an additional 85,000 shares during the period.

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.

Analyst Recommendations for Pandora Media (NYSE:P)

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