Pandora Media, Inc. (NYSE:P)‘s stock had its “hold” rating restated by BMO Capital Markets in a report issued on Sunday, July 16th. They presently have a $12.00 target price on the Internet radio service’s stock. BMO Capital Markets’ price objective suggests a potential upside of 43.20% from the company’s current price.
Other equities analysts have also recently issued research reports about the company. B. Riley reaffirmed a “buy” rating and set a $15.00 target price on shares of Pandora Media in a research note on Tuesday, May 9th. Nomura reduced their price target on Pandora Media from $14.00 to $12.00 and set a “hold” rating for the company in a report on Tuesday, May 9th. Piper Jaffray Companies set a $18.00 price target on Pandora Media and gave the company a “buy” rating in a report on Saturday, June 10th. Pacific Crest reiterated an “underweight” rating and set a $9.00 price target on shares of Pandora Media in a report on Tuesday, May 9th. Finally, BidaskClub upgraded Pandora Media from a “strong sell” rating to a “sell” rating in a report on Friday, June 23rd. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.07.
Pandora Media (NYSE P) traded down 3.12% during mid-day trading on Friday, hitting $8.38. 12,467,483 shares of the stock were exchanged. Pandora Media has a 52-week low of $6.76 and a 52-week high of $14.98. The company has a 50 day moving average price of $8.70 and a 200 day moving average price of $10.70. The firm’s market cap is $2.01 billion. Pandora Media also was the recipient of unusually large options trading on Monday. Stock investors acquired 13,874 call options on the company. This is an increase of approximately 217% compared to the typical daily volume of 4,381 call options.
Pandora Media (NYSE:P) last released its earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.08. Pandora Media had a negative return on equity of 49.92% and a negative net margin of 39.90%. The company had revenue of $376.83 million for the quarter, compared to analysts’ expectations of $367.51 million. During the same quarter in the previous year, the business posted ($0.12) EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts anticipate that Pandora Media will post ($0.50) EPS for the current year.
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In related news, President Michael S. Herring sold 11,730 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $9.38, for a total value of $110,027.40. Following the transaction, the president now owns 548,230 shares in the company, valued at $5,142,397.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Douglas Martin sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $9.18, for a total value of $27,540.00. Following the completion of the transaction, the insider now owns 257,921 shares in the company, valued at approximately $2,367,714.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,642 shares of company stock worth $411,284. 2.59% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Asset Management Company LTD increased its position in Pandora Media by 32.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,757,185 shares of the Internet radio service’s stock valued at $20,752,000 after buying an additional 432,760 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in Pandora Media during the first quarter valued at about $239,000. Russell Investments Group Ltd. increased its stake in Pandora Media by 154.4% in the first quarter. Russell Investments Group Ltd. now owns 2,071,238 shares of the Internet radio service’s stock valued at $24,461,000 after buying an additional 1,256,984 shares in the last quarter. Profund Advisors LLC increased its stake in Pandora Media by 27.3% in the first quarter. Profund Advisors LLC now owns 99,201 shares of the Internet radio service’s stock valued at $1,172,000 after buying an additional 21,256 shares in the last quarter. Finally, Waldron LP acquired a new stake in shares of Pandora Media during the first quarter worth about $167,000.
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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