Pandora Media, Inc. (NYSE:P)‘s stock had its “buy” rating reissued by Piper Jaffray Companies in a research report issued to clients and investors on Friday. They currently have a $9.00 price objective on the Internet radio service’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 61.00% from the stock’s previous close.

Several other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Pandora Media from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Pandora Media in a report on Thursday, July 6th. KeyCorp reaffirmed a “hold” rating on shares of Pandora Media in a report on Thursday, September 7th. ValuEngine lowered shares of Pandora Media from a “sell” rating to a “strong sell” rating in a report on Friday, September 22nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $12.00 price objective on shares of Pandora Media in a report on Wednesday, August 23rd. Three equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Pandora Media presently has a consensus rating of “Hold” and an average target price of $11.24.

Shares of Pandora Media (P) traded down $1.81 during trading hours on Friday, reaching $5.59. 73,680,805 shares of the company were exchanged, compared to its average volume of 5,954,956. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.65.

Pandora Media (NYSE:P) last released its quarterly earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 63.80%. The business had revenue of $378.60 million for the quarter, compared to analyst estimates of $380.54 million. During the same period in the previous year, the company earned ($0.07) earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. analysts forecast that Pandora Media will post -1.04 EPS for the current fiscal year.

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In other 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Gerbitz sold 9,959 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 transaction of $83,854.78. Following the completion of the sale, the executive vice president now directly owns 355,607 shares of the company’s stock, valued at approximately $2,994,210.94. The disclosure for this sale can be found here. In the last three months, insiders sold 67,366 shares of company stock valued at $564,822. Corporate insiders own 2.59% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado boosted its position in shares of Pandora Media by 0.3% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 49,301 shares of the Internet radio service’s stock worth $440,000 after purchasing an additional 125 shares during the period. Voya Investment Management LLC boosted its position in shares of Pandora Media by 0.9% during the 2nd quarter. Voya Investment Management LLC now owns 87,150 shares of the Internet radio service’s stock worth $777,000 after purchasing an additional 740 shares during the period. Utah Retirement Systems boosted its position in shares of Pandora Media by 3.0% during the 2nd quarter. Utah Retirement Systems now owns 41,286 shares of the Internet radio service’s stock worth $368,000 after purchasing an additional 1,200 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Pandora Media by 6.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 18,906 shares of the Internet radio service’s stock worth $169,000 after purchasing an additional 1,204 shares during the period. Finally, Stephens Inc. AR boosted its position in shares of Pandora Media by 1.0% during the 2nd quarter. Stephens Inc. AR now owns 151,744 shares of the Internet radio service’s stock worth $1,354,000 after purchasing an additional 1,496 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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