William Blair cut shares of Pandora Media (NYSE:P) from an outperform rating to a market perform rating in a research report released on Monday morning, The Fly reports.
Other equities analysts have also issued research reports about the stock. Wedbush set a $10.00 price objective on shares of Pandora Media and gave the company a buy rating in a report on Wednesday, August 1st. Canaccord Genuity set a $10.00 price objective on shares of Pandora Media and gave the company a buy rating in a report on Wednesday, August 1st. B. Riley boosted their target price on shares of Pandora Media from $8.00 to $9.00 and gave the stock a buy rating in a research report on Wednesday, August 1st. Zacks Investment Research raised shares of Pandora Media from a hold rating to a buy rating and set a $9.25 target price for the company in a research report on Saturday, August 4th. Finally, ValuEngine raised shares of Pandora Media from a hold rating to a buy rating in a research report on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $8.37.
Shares of NYSE P opened at $9.28 on Monday. Pandora Media has a 1-year low of $4.09 and a 1-year high of $10.07. The stock has a market cap of $2.40 billion, a PE ratio of -7.48 and a beta of -0.47. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 2.76.
Pandora Media (NYSE:P) last announced its quarterly earnings data on Tuesday, July 31st. The Internet radio service reported ($0.15) earnings per share 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 for the quarter, compared to analyst estimates of $373.61 million. equities analysts anticipate that Pandora Media will post -0.95 EPS for the current year.
In other Pandora Media news, General Counsel Stephen G. Bene sold 27,208 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $8.16, for a total value of $222,017.28. Following the completion of the sale, the general counsel now directly owns 577,033 shares of the company’s stock, valued at approximately $4,708,589.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karen Sammis Walker sold 16,528 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $8.11, for a total transaction of $134,042.08. Following the completion of the sale, the insider now directly owns 701,007 shares of the company’s stock, valued at $5,685,166.77. The disclosure for this sale can be found here. Insiders sold a total of 180,890 shares of company stock valued at $1,461,155 over the last ninety days. 2.59% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new stake in Pandora Media in the 2nd quarter worth about $2,452,000. Point72 Hong Kong Ltd boosted its stake in Pandora Media by 1,540.6% in the second quarter. Point72 Hong Kong Ltd now owns 200,000 shares of the Internet radio service’s stock valued at $1,576,000 after acquiring an additional 187,809 shares during the last quarter. DSAM Partners London Ltd purchased a new position in Pandora Media in the second quarter valued at about $3,112,000. Eidelman Virant Capital boosted its stake in Pandora Media by 6.4% in the second quarter. Eidelman Virant Capital now owns 656,200 shares of the Internet radio service’s stock valued at $5,170,000 after acquiring an additional 39,400 shares during the last quarter. Finally, Tenzing Global Management LLC purchased a new position in Pandora Media in the second quarter valued at about $1,970,000.
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.
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