Aegis Reaffirms Buy Rating for Pandora Media Inc (P)

Aegis restated their buy rating on shares of Pandora Media Inc (NYSE:P) in a research note published on Wednesday.

Several other brokerages have also commented on P. Needham & Company LLC reiterated a sell rating and set a $16.00 price objective on shares of Pandora Media in a research report on Thursday, December 8th. Wells Fargo & Co reiterated an outperform rating and set a $13.00 price objective on shares of Pandora Media in a research report on Wednesday, December 7th. Canaccord Genuity reiterated a buy rating and set a $18.00 price objective on shares of Pandora Media in a research report on Wednesday, December 7th. FBR & Co reiterated a market perform rating and set a $12.00 price objective on shares of Pandora Media in a research report on Friday, December 9th. Finally, Albert Fried & Company reiterated an underweight rating on shares of Pandora Media in a research report on Saturday, December 10th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Pandora Media has a consensus rating of Buy and a consensus price target of $14.63.

Analyst Recommendations for Pandora Media (NYSE:P)

Pandora Media (NYSE:P) traded up 2.134% during trading on Wednesday, hitting $11.725. The company had a trading volume of 1,862,155 shares. The stock’s market capitalization is $2.76 billion. The company’s 50 day moving average price is $12.68 and its 200-day moving average price is $12.79. Pandora Media has a 1-year low of $8.05 and a 1-year high of $14.98.

Pandora Media (NYSE:P) last announced its quarterly earnings data on Thursday, February 9th. The Internet radio service reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.08. The firm had revenue of $392.60 million for the quarter, compared to analyst estimates of $374.24 million. Pandora Media had a negative return on equity of 40.86% and a negative net margin of 24.77%. The company’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 EPS. On average, analysts expect that Pandora Media will post ($0.44) EPS for the current year.

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In other Pandora Media news, EVP David Gerbitz sold 35,000 shares of Pandora Media stock in a transaction on Monday, February 13th. The stock was sold at an average price of $13.08, for a total value of $457,800.00. Following the completion of the sale, the executive vice president now owns 250,626 shares of the company’s stock, valued at approximately $3,278,188.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Douglas Martin sold 3,000 shares of Pandora Media stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $12.07, for a total value of $36,210.00. Following the completion of the sale, the insider now directly owns 300,311 shares of the company’s stock, valued at approximately $3,624,753.77. The disclosure for this sale can be found here. Insiders have sold 71,221 shares of company stock valued at $924,654 in the last quarter. 6.64% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of P. Public Employees Retirement System of Ohio raised its stake in Pandora Media by 6.6% in the second quarter. Public Employees Retirement System of Ohio now owns 45,961 shares of the Internet radio service’s stock worth $572,000 after buying an additional 2,860 shares during the last quarter. Beech Hill Advisors Inc. raised its stake in Pandora Media by 0.4% in the third quarter. Beech Hill Advisors Inc. now owns 85,600 shares of the Internet radio service’s stock worth $1,227,000 after buying an additional 300 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Pandora Media by 31.1% in the third quarter. Great West Life Assurance Co. Can now owns 27,848 shares of the Internet radio service’s stock worth $398,000 after buying an additional 6,613 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in Pandora Media during the third quarter worth approximately $18,979,000. Finally, Peregrine Capital Management LLC acquired a new stake in Pandora Media during the third quarter worth approximately $14,574,000.

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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