Pandora Media (NYSE:P) has been given a $9.00 price target by investment analysts at Piper Jaffray Companies in a report issued on Tuesday. The brokerage presently has a “buy” rating on the Internet radio service’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 78.93% from the stock’s previous close.

Several other brokerages have also weighed in on P. Zacks Investment Research lowered Pandora Media from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. B. Riley lowered Pandora Media from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $11.00 to $8.00 in a report on Friday, November 3rd. FBR & Co reissued a “buy” rating and set a $11.00 price objective on shares of Pandora Media in a report on Tuesday, August 15th. Stifel Nicolaus lowered Pandora Media from a “buy” rating to a “hold” rating and reduced their price objective for the company from $12.00 to $8.00 in a report on Friday, November 3rd. Finally, KeyCorp reissued a “hold” rating on shares of Pandora Media in a report on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $10.94.

Pandora Media (NYSE P) traded up $0.13 during mid-day trading on Tuesday, hitting $5.03. The stock had a trading volume of 9,359,100 shares, compared to its average volume of 9,824,533. The company has a debt-to-equity ratio of 1.58, a current ratio of 4.18 and a quick ratio of 4.18. Pandora Media has a 52 week low of $4.44 and a 52 week high of $13.77.

Pandora Media (NYSE:P) last released its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $378.60 million during the quarter, compared to analyst estimates of $380.54 million. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. Pandora Media’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. analysts anticipate that Pandora Media will post -1.09 earnings per share for the current fiscal year.

In other Pandora Media news, General Counsel Stephen G. Bene sold 7,967 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $5.11, for a total transaction of $40,711.37. Following the sale, the general counsel now owns 330,865 shares in the company, valued at $1,690,720.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher W. Phillips sold 9,988 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $5.11, for a total value of $51,038.68. Following the transaction, the insider now directly owns 413,884 shares in the company, valued at $2,114,947.24. The disclosure for this sale can be found here. Insiders have sold 37,682 shares of company stock worth $192,555 in the last 90 days. Company insiders own 2.59% of the company’s stock.

Several large investors have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in shares of Pandora Media during the third quarter valued at about $259,000. Cubist Systematic Strategies LLC bought a new position in shares of Pandora Media during the third quarter valued at about $1,865,000. Alyeska Investment Group L.P. grew its stake in shares of Pandora Media by 21.3% during the third quarter. Alyeska Investment Group L.P. now owns 5,165,300 shares of the Internet radio service’s stock valued at $39,773,000 after buying an additional 906,180 shares during the last quarter. Boothbay Fund Management LLC bought a new position in shares of Pandora Media during the third quarter valued at about $180,000. Finally, Cowen Inc. grew its stake in shares of Pandora Media by 70.3% during the third quarter. Cowen Inc. now owns 69,500 shares of the Internet radio service’s stock valued at $535,000 after buying an additional 28,700 shares during the last quarter.

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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.

Analyst Recommendations for Pandora Media (NYSE:P)

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