The Pandora Media Inc. (P) Earns Underweight Rating from Pacific Crest

The Pandora Media Inc. (P) Earns Underweight Rating from Pacific Crest

Pandora Media Inc. (NYSE:P)‘s stock had its “underweight” rating restated by stock analysts at Pacific Crest in a research note issued to investors on Monday.

A number of other equities analysts also recently commented on P. B. Riley restated a “buy” rating and issued a $15.00 target price on shares of Pandora Media in a research note on Thursday, June 23rd. Morgan Stanley upgraded Pandora Media from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $11.00 to $15.00 in a research report on Monday, June 27th. Vetr upgraded Pandora Media from a “sell” rating to a “strong-buy” rating and set a $13.64 price objective for the company in a research report on Monday, June 27th. Macquarie reiterated an “outperform” rating and set a $15.00 price objective on shares of Pandora Media in a research report on Thursday, July 7th. Finally, Albert Fried & Company reiterated a “buy” rating on shares of Pandora Media in a research report on Friday, July 8th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $15.81.

Pandora Media (NYSE:P) traded down 3.001% during trading on Monday, hitting $12.445. The stock had a trading volume of 6,784,829 shares. The stock’s 50-day moving average is $14.02 and its 200-day moving average is $12.04. Pandora Media has a 52-week low of $7.10 and a 52-week high of $20.55. The stock’s market capitalization is $2.88 billion.

Pandora Media (NYSE:P) last issued its earnings results 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. Pandora Media had a negative return on equity of 25.53% and a negative net margin of 23.04%. The company earned $343 million during the quarter, compared to the consensus estimate of $351.48 million. On average, analysts predict that Pandora Media will post ($0.39) earnings per share for the current fiscal year.

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

Hedge funds have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC boosted its stake in 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 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 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. Jackson Square Partners LLC boosted its stake in 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. Finally, Bayesian Capital Management LP bought a new stake in Pandora Media during the first quarter valued at approximately $172,000.

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