Pandora Media (P) Downgraded to Sell at Zacks Investment Research

Pandora Media (NYSE:P) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “Pandora Media, Inc. operates as a provider of Internet radio in the United States. It provides services to traditional computers, smartphones, such as Android phones, Blackberry phones and the iPhone. When a listener enters a single song, artist, composer or genre to start a station, its mathematical algorithms combine the genes cataloged with individual and collective feedback to suggest songs and build personalized playlists. The Company also offers advertising solutions addressing advertising markets: online display, rich media and video, mobile and broadcast radio. Pandora Media, Inc., formerly known as Savage Beast Technologies Incorporated, is based in Oakland, California. “

A number of other equities research analysts also recently weighed in on P. SunTrust Banks set a $7.00 target price on Pandora Media and gave the stock a “hold” rating in a research report on Tuesday. FBR & Co restated a “buy” rating and issued a $11.00 target price on shares of Pandora Media in a research report on Monday, September 25th. JPMorgan Chase & Co. downgraded Pandora Media from an “overweight” rating to a “neutral” rating and set a $9.00 target price for the company. in a research report on Friday, November 3rd. B. Riley downgraded Pandora Media from a “buy” rating to a “neutral” rating and cut their target price for the stock from $11.00 to $8.00 in a research report on Friday, November 3rd. Finally, Stifel Nicolaus downgraded Pandora Media from a “buy” rating to a “hold” rating and cut their target price for the stock from $12.00 to $8.00 in a research report on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Pandora Media has a consensus rating of “Hold” and a consensus price target of $10.83.

Pandora Media (NYSE:P) opened at $4.96 on Friday. Pandora Media has a fifty-two week low of $4.44 and a fifty-two week high of $13.72. The stock has a market capitalization of $1,236.45, a P/E ratio of -2.00 and a beta of -0.25. 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 (NYSE:P) last issued its quarterly earnings data on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The business had revenue of $378.60 million during the quarter, compared to analyst estimates of $380.54 million. During the same period in the prior year, the company posted ($0.07) EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. analysts anticipate that Pandora Media will post -1.09 earnings per share for the current fiscal year.

In other news, CEO Roger Lynch sold 78,707 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $4.77, for a total value of $375,432.39. Following the completion of the sale, the chief executive officer now owns 701,607 shares in the company, valued at $3,346,665.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stephen G. Bene sold 7,967 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $5.11, for a total value of $40,711.37. Following the completion of the sale, the general counsel now owns 330,865 shares of the company’s stock, valued at approximately $1,690,720.15. The disclosure for this sale can be found here. Insiders sold 116,389 shares of company stock valued at $567,987 in the last 90 days. Corporate insiders own 2.59% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in shares of Pandora Media in the third quarter worth $259,000. Cubist Systematic Strategies LLC acquired a new position in shares of Pandora Media in the third quarter worth $1,865,000. Alyeska Investment Group L.P. increased its stake in shares of Pandora Media by 21.3% in the third quarter. Alyeska Investment Group L.P. now owns 5,165,300 shares of the Internet radio service’s stock worth $39,773,000 after acquiring an additional 906,180 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Pandora Media in the third quarter worth $180,000. Finally, Cowen Inc. increased its stake in shares of Pandora Media by 70.3% in the third quarter. Cowen Inc. now owns 69,500 shares of the Internet radio service’s stock worth $535,000 after acquiring an additional 28,700 shares during the last quarter.

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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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