Pandora Media, Inc. (P) Receives Average Recommendation of “Hold” from Analysts
Pandora Media, Inc. (NYSE:P) has earned a consensus recommendation of “Hold” from the forty-one brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, twenty-one have given a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $11.77.
A number of research analysts have recently issued reports on the stock. MKM Partners restated a “neutral” rating and issued a $10.00 price target on shares of Pandora Media in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Pandora Media from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. FBR & Co restated a “buy” rating and issued a $11.00 price target on shares of Pandora Media in a research report on Tuesday, August 15th. Morgan Stanley restated an “overweight” rating and issued a $12.00 price target on shares of Pandora Media in a research report on Wednesday, July 5th. Finally, KeyCorp restated a “hold” rating on shares of Pandora Media in a research report on Thursday, September 7th.
Shares of Pandora Media (NYSE:P) opened at 7.27 on Wednesday. The stock’s market capitalization is $1.76 billion. The company has a 50-day moving average of $8.01 and a 200-day moving average of $8.84. Pandora Media has a 12 month low of $6.76 and a 12 month high of $14.10.
Pandora Media (NYSE:P) last posted its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $367.51 million. During the same period last year, the firm posted ($0.12) EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts expect that Pandora Media will post ($0.51) EPS for the current fiscal year.
In other news, EVP David Gerbitz sold 30,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $8.34, for a total value of $250,200.00. Following the completion of the sale, the executive vice president now directly owns 335,607 shares in the company, valued at $2,798,962.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stephen G. Bene sold 6,538 shares of the business’s stock in a transaction on 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 67,366 shares of company stock valued at $564,822 over the last 90 days. 2.59% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. increased its position in Pandora Media by 789.9% during the second quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock worth $27,758,000 after acquiring an additional 2,737,635 shares during the period. First Trust Advisors LP increased its position in Pandora Media by 51.9% during 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. Nordea Investment Management AB bought a new position in Pandora Media during the second quarter worth $14,821,000. Clearbridge Investments LLC increased its position in Pandora Media by 37,810.3% during the first quarter. Clearbridge Investments LLC now owns 1,442,865 shares of the Internet radio service’s stock worth $17,040,000 after acquiring an additional 1,439,059 shares during the period. Finally, Locust Wood Capital Advisers LLC bought a new position in Pandora Media during the second quarter worth $12,574,000.
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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