Pandora Media, Inc. (NYSE:P) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.

Several other analysts also recently weighed in on the stock. Aegis reissued a “buy” rating and issued a $13.00 price target on shares of Pandora Media in a research note on Friday, June 30th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $13.00 price target (down from $16.00) on shares of Pandora Media in a research note on Monday, June 12th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Pandora Media in a research note on Thursday, July 6th. BidaskClub raised shares of Pandora Media from a “strong sell” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $12.00 price target on shares of Pandora Media in a research note on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.07.

Pandora Media (NYSE:P) opened at 8.17 on Friday. The company’s market capitalization is $1.98 billion. 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 price is $8.33 and its 200 day moving average price is $9.55.

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

ILLEGAL ACTIVITY NOTICE: “Pandora Media, Inc. (P) Rating Lowered to Strong Sell at ValuEngine” was reported by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was illegally copied and republished in violation of international copyright and trademark laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/09/22/pandora-media-inc-p-rating-lowered-to-strong-sell-at-valuengine.html.

In other Pandora Media news, General Counsel Stephen G. Bene sold 6,538 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total value of $55,049.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher W. Phillips sold 10,322 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $86,911.24. Following the completion of the transaction, the insider now owns 423,872 shares in the company, valued at $3,569,002.24. The disclosure for this sale can be found here. Insiders sold 67,366 shares of company stock worth $564,822 in the last 90 days. 2.59% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Pandora Media by 4.8% in the second quarter. Vanguard Group Inc. now owns 18,059,537 shares of the Internet radio service’s stock worth $161,092,000 after acquiring an additional 829,682 shares during the period. Waddell & Reed Financial Inc. raised its position in Pandora Media by 9.1% in the first quarter. Waddell & Reed Financial Inc. now owns 13,919,032 shares of the Internet radio service’s stock worth $164,384,000 after acquiring an additional 1,156,593 shares during the period. First Trust Advisors LP raised 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 worth $64,077,000 after acquiring an additional 2,454,296 shares during the period. Ontario Teachers Pension Plan Board raised its position in Pandora Media by 0.7% in the second quarter. Ontario Teachers Pension Plan Board now owns 7,046,899 shares of the Internet radio service’s stock worth $62,858,000 after acquiring an additional 46,899 shares during the period. Finally, Alliancebernstein L.P. raised 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 worth $66,851,000 after acquiring an additional 1,729,354 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Pandora Media (NYSE:P)

Receive News & Ratings for Pandora Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media Inc. and related companies with MarketBeat.com's FREE daily email newsletter.