Pandora Media, Inc. (P) Stock Rating Reaffirmed by FBR & Co
Pandora Media, Inc. (NYSE:P)‘s stock had its “buy” rating reiterated by equities researchers at FBR & Co in a note issued to investors on Monday. They currently have a $11.00 price objective on the Internet radio service’s stock. FBR & Co’s target price indicates a potential upside of 33.66% from the company’s previous close.
P has been the subject of a number of other research reports. Goldman Sachs Group Inc restated a “buy” rating and issued a $13.00 price target (down previously from $16.00) on shares of Pandora Media in a research note on Monday, June 12th. Aegis dropped their price target on shares of Pandora Media from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, June 21st. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Pandora Media in a research note on Monday, June 12th. Macquarie restated a “neutral” rating and issued a $9.00 price target (down previously from $11.00) on shares of Pandora Media in a research note on Wednesday, June 28th. Finally, Wedbush restated a “buy” rating on shares of Pandora Media in a research note on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $12.07.
Pandora Media (NYSE:P) last posted its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.08. The company had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) earnings per share.
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In other Pandora Media news, EVP David Gerbitz sold 9,959 shares of Pandora Media stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $83,854.78. Following the transaction, the executive vice president now owns 355,607 shares of the company’s stock, valued at approximately $2,994,210.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO John Trimble sold 10,547 shares of Pandora Media stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total value of $88,805.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,366 shares of company stock worth $564,822. Company insiders own 2.59% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Falcon Point Capital LLC purchased a new position in Pandora Media during the 2nd quarter valued at about $102,000. Prudential Financial Inc. purchased a new position in Pandora Media during the 2nd quarter valued at about $109,000. Symmetry Peak Management LLC purchased a new position in Pandora Media during the 2nd quarter valued at about $112,000. Aperio Group LLC purchased a new position in Pandora Media during the 2nd quarter valued at about $115,000. Finally, Virtu Financial LLC purchased a new position in Pandora Media during the 2nd quarter valued at about $121,000.
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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