Pandora Media Inc. (NYSE:P) had its price objective dropped by research analysts at Credit Suisse Group AG to $14.00 in a report issued on Monday. Credit Suisse Group AG’s price objective would indicate a potential upside of 9.12% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. Bank of America Corp. cut Pandora Media from a “neutral” rating to an “underperform” rating in a report on Monday. Zacks Investment Research cut Pandora Media from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. Goldman Sachs Group Inc. upgraded Pandora Media from a “buy” rating to a “conviction-buy” rating and increased their price objective for the stock from $17.00 to $19.00 in a report on Tuesday, October 4th. B. Riley reiterated a “buy” rating and issued a $18.00 price objective on shares of Pandora Media in a report on Sunday, October 2nd. Finally, Vetr upgraded Pandora Media from a “buy” rating to a “strong-buy” rating and set a $16.06 price objective for the company in a report on Thursday, September 29th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.81.
Shares of Pandora Media (NYSE:P) opened at 12.83 on Monday. The company’s market cap is $2.96 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 issued its earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company earned $343 million during the quarter, compared to analysts’ expectations of $351.48 million. Pandora Media had a negative return on equity of 25.53% and a negative net margin of 23.04%. On average, analysts forecast that Pandora Media will post ($0.39) EPS for the current year.
In related news, insider Christopher Douglas Martin sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $13.21, for a total value of $26,420.00. Following the completion of the sale, the insider now owns 342,896 shares in the company, valued at $4,529,656.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher W. Phillips sold 12,274 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,509,867.70. The disclosure for this sale can be found here. Company insiders own 6.64% of the company’s stock.
Several hedge funds have recently made changes to their positions in P. Gruss & Co. Inc. bought a new stake in Pandora Media during the second quarter worth $125,000. Osterweis Capital Management Inc. bought a new stake in Pandora Media during the second quarter worth $125,000. Passport Capital LLC bought a new stake in Pandora Media during the second quarter worth $127,000. Franklin Resources Inc. bought a new stake in Pandora Media during the second quarter worth $144,000. Finally, Nomura Holdings Inc. bought a new stake in Pandora Media during the second quarter worth $169,000.
Pandora Media Company Profile