Today, Pandora Media Inc. (P) Downgraded by Zacks Investment Research to “Sell”

Today, Pandora Media Inc. (P) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Pandora Media Inc. (NYSE:P) from a hold rating to a sell rating in a report released on Tuesday morning.

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 research analysts have also commented on P. Vetr lowered shares of Pandora Media from a strong-buy rating to a buy rating and set a $12.97 price objective for the company. in a research report on Monday, June 13th. Albert Fried & Company reaffirmed a buy rating on shares of Pandora Media in a research report on Monday, June 13th. Scotiabank raised shares of Pandora Media from an underperform rating to a sector perform rating in a research report on Tuesday, June 14th. Canaccord Genuity reaffirmed a buy rating and set a $14.00 price objective on shares of Pandora Media in a research report on Tuesday, June 14th. Finally, Axiom Securities reaffirmed a buy rating and set a $16.00 price objective on shares of Pandora Media in a research report on Wednesday, June 15th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Pandora Media presently has an average rating of Buy and a consensus target price of $15.81.

Pandora Media (NYSE:P) opened at 12.42 on Tuesday. The firm’s market capitalization is $2.87 billion. The stock’s 50 day moving average price is $14.02 and its 200 day moving average price is $12.04. Pandora Media has a 12 month low of $7.10 and a 12 month high of $20.55.

Pandora Media (NYSE:P) last announced its quarterly earnings data on Thursday, July 21st. The Internet radio service reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.04. The business earned $343 million during the quarter, compared to analyst estimates of $351.48 million. Pandora Media had a negative net margin of 23.04% and a negative return on equity of 25.53%. On average, analysts forecast that Pandora Media will post ($0.39) earnings per share for the current year.

In other Pandora Media news, insider Christopher W. Phillips sold 12,274 shares of Pandora Media stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $12.15, for a total value of $149,129.10. Following the completion of the sale, the insider now owns 288,878 shares in the company, valued at approximately $3,509,867.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Douglas Martin sold 2,000 shares of Pandora Media stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $13.60, for a total transaction of $27,200.00. Following the completion of the sale, the insider now owns 344,470 shares of the company’s stock, valued at approximately $4,684,792. The disclosure for this sale can be found here. Corporate insiders own 6.64% of the company’s stock.

Hedge funds have recently modified their holdings of the company. TIAA CREF Investment Management LLC boosted its stake in shares of Pandora Media by 0.3% in the first quarter. TIAA CREF Investment Management LLC now owns 639,383 shares of the Internet radio service’s stock valued at $5,722,000 after buying an additional 1,708 shares during the period. BlackRock Inc. boosted its stake in shares of Pandora Media by 308.2% in the first quarter. BlackRock Inc. now owns 25,287 shares of the Internet radio service’s stock valued at $227,000 after buying an additional 19,093 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Pandora Media by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,032,903 shares of the Internet radio service’s stock valued at $45,044,000 after buying an additional 110,180 shares during the period. Shufro Rose & Co. LLC boosted its stake in shares of Pandora Media by 16.7% in the first quarter. Shufro Rose & Co. LLC now owns 17,500 shares of the Internet radio service’s stock valued at $157,000 after buying an additional 2,500 shares during the period. Finally, Jackson Square Partners LLC boosted its stake in shares of Pandora Media by 83.2% in the first quarter. Jackson Square Partners LLC now owns 11,291,361 shares of the Internet radio service’s stock valued at $101,057,000 after buying an additional 5,127,147 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.

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