Pandora Media, Inc. (NYSE:P)‘s stock had its “hold” rating restated by equities research analysts at KeyCorp in a research report issued to clients and investors on Thursday.
P has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $16.00 target price on shares of Pandora Media in a research report on Wednesday, May 17th. FBR & Co upgraded shares of Pandora Media from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $14.00 to $11.00 in a research report on Monday, June 12th. SunTrust Banks, Inc. restated a “buy” rating and set a $10.50 target price (down previously from $16.00) on shares of Pandora Media in a research report on Friday, May 19th. Aegis decreased their target price on shares of Pandora Media from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, June 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Pandora Media in a research report on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Pandora Media currently has a consensus rating of “Hold” and an average target price of $12.07.
Pandora Media (P) opened at 8.44 on Thursday. The stock’s market capitalization is $2.05 billion. Pandora Media has a 1-year low of $6.76 and a 1-year high of $14.95. The firm has a 50-day moving average of $8.59 and a 200-day moving average of $9.83.
Pandora Media (NYSE:P) last released its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.08. The business had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) earnings per share. Equities research analysts anticipate that Pandora Media will post ($0.51) EPS for the current year.
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In other news, EVP David Gerbitz sold 30,000 shares of Pandora Media stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $8.34, for a total value of $250,200.00. Following the completion of the transaction, the executive vice president now directly owns 335,607 shares of the company’s stock, valued at approximately $2,798,962.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stephen G. Bene sold 6,538 shares of Pandora Media stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $55,049.96. The disclosure for this sale can be found here. Insiders sold a total of 67,366 shares of company stock valued at $564,822 over the last ninety days. Company insiders own 2.59% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in shares of Pandora Media in the 1st quarter valued at about $446,000. SG Americas Securities LLC acquired a new position in shares of Pandora Media in the 2nd quarter valued at about $3,141,000. SLS Management LLC boosted its holdings in shares of Pandora Media by 46.0% in the 1st quarter. SLS Management LLC now owns 695,636 shares of the Internet radio service’s stock valued at $8,215,000 after buying an additional 219,250 shares during the period. Brighton Jones LLC acquired a new position in shares of Pandora Media in the 2nd quarter valued at about $267,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Pandora Media in the 2nd quarter valued at about $10,047,000.
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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