Pandora Media Inc. (NYSE:P) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They currently have a $12.52 target price on the Internet radio service’s stock. Vetr‘s price objective points to a potential upside of 13.20% from the company’s current price.
A number of other equities analysts also recently commented on the stock. B. Riley restated a “buy” rating and set a $15.00 price objective on shares of Pandora Media in a research note on Monday, July 25th. Pacific Crest restated a “sell” rating on shares of Pandora Media in a research note on Monday, September 12th. Finally, Wedbush set a $15.00 price objective on shares of Pandora Media and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.47.
Pandora Media (NYSE:P) traded up 0.73% during trading on Monday, hitting $11.06. The stock had a trading volume of 1,072,503 shares. The stock has a 50 day moving average price of $11.90 and a 200 day moving average price of $12.51. The company’s market capitalization is $2.58 billion. Pandora Media has a 12-month low of $7.10 and a 12-month high of $16.23.
Pandora Media (NYSE:P) last announced its quarterly earnings results on Tuesday, October 25th. The Internet radio service reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.01. Pandora Media had a negative net margin of 20.50% and a negative return on equity of 30.45%. The firm earned $351.90 million during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm earned $0.10 EPS. Pandora Media’s quarterly revenue was up 12.9% on a year-over-year basis. Equities research analysts forecast that Pandora Media will post ($0.62) earnings per share for the current year.
In other news, insider Christopher Douglas Martin sold 2,000 shares of Pandora Media stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $13.37, for a total transaction of $26,740.00. Following the completion of the transaction, the insider now directly owns 336,569 shares in the company, valued at $4,499,927.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.64% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of P. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Pandora Media by 12.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,074 shares of the Internet radio service’s stock valued at $116,000 after buying an additional 876 shares during the period. Gruss & Co. Inc. purchased a new position in Pandora Media during the second quarter valued at $125,000. Osterweis Capital Management Inc. bought a new stake in shares of Pandora Media during the second quarter valued at approximately $125,000. Passport Capital LLC bought a new stake in shares of Pandora Media during the second quarter valued at approximately $127,000. Finally, DIAM Co. Ltd. bought a new stake in shares of Pandora Media during the third quarter valued at approximately $133,000.
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.