Pandora Media (NYSE:P) was downgraded by research analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a report released on Tuesday, Marketbeat Ratings reports. They presently have a $11.00 target price on the Internet radio service’s stock. Raymond James’ price target would suggest a potential upside of 18.53% from the company’s current price.
Several other analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Pandora Media from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a research report on Saturday, August 4th. Royal Bank of Canada upgraded shares of Pandora Media from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 1st. ValuEngine downgraded shares of Pandora Media from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Needham & Company LLC boosted their price objective on shares of Pandora Media from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, September 12th. Finally, Canaccord Genuity set a $11.00 price objective on shares of Pandora Media and gave the company a “buy” rating in a research note on Sunday. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.37.
P stock opened at $9.28 on Tuesday. Pandora Media has a 12 month low of $4.09 and a 12 month high of $10.07. The firm has a market capitalization of $2.40 billion, a P/E ratio of -7.48 and a beta of -0.47. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 2.76.
Pandora Media (NYSE:P) last released its quarterly earnings results on Tuesday, July 31st. The Internet radio service reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.12. Pandora Media had a negative net margin of 24.14% and a negative return on equity of 243.61%. The firm had revenue of $384.79 million during the quarter, compared to the consensus estimate of $373.61 million. equities research analysts forecast that Pandora Media will post -0.95 earnings per share for the current fiscal year.
In other news, insider Karen Sammis Walker sold 16,528 shares of the company’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $8.11, for a total transaction of $134,042.08. Following the transaction, the insider now directly owns 701,007 shares of the company’s stock, valued at approximately $5,685,166.77. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO John Trimble sold 100,577 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $8.02, for a total transaction of $806,627.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,890 shares of company stock worth $1,461,155. Corporate insiders own 2.59% of the company’s stock.
Several large investors have recently bought and sold shares of P. Swiss National Bank grew its stake in shares of Pandora Media by 5.4% during the 1st quarter. Swiss National Bank now owns 423,600 shares of the Internet radio service’s stock worth $2,131,000 after purchasing an additional 21,700 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Pandora Media by 24.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 782,773 shares of the Internet radio service’s stock worth $3,938,000 after buying an additional 153,096 shares in the last quarter. Aperio Group LLC boosted its position in shares of Pandora Media by 142.7% in the 1st quarter. Aperio Group LLC now owns 57,855 shares of the Internet radio service’s stock worth $291,000 after buying an additional 34,017 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Pandora Media by 43.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 87,659 shares of the Internet radio service’s stock worth $441,000 after buying an additional 26,600 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Pandora Media by 3.8% in the 1st quarter. Northern Trust Corp now owns 1,201,896 shares of the Internet radio service’s stock worth $6,044,000 after buying an additional 43,776 shares in the last quarter.
About Pandora Media
Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora?Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.
Featured Article: How is the S&P 500 index different from the DJIA?
Receive News & Ratings for Pandora Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media and related companies with MarketBeat.com's FREE daily email newsletter.