Vetr upgraded shares of Pandora Media, Inc. (NYSE:P) from a hold rating to a buy rating in a research note released on Monday. Vetr currently has $13.38 target price on the Internet radio service’s stock.
Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Pandora Media from a hold rating to a sell rating in a report on Tuesday, November 1st. Wells Fargo & Company reiterated an outperform rating and issued a $13.00 price target on shares of Pandora Media in a research note on Wednesday, December 7th. Stifel Nicolaus upped their price target on shares of Pandora Media from $15.00 to $16.00 and gave the company a buy rating in a research note on Monday, October 24th. Barrington Research lowered shares of Pandora Media from an outperform rating to a market perform rating in a research note on Tuesday, January 3rd. Finally, Wedbush reiterated an outperform rating and issued a $15.00 price target on shares of Pandora Media in a research note on Wednesday, October 26th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Pandora Media presently has a consensus rating of Hold and an average price target of $14.59.
Pandora Media (NYSE:P) opened at 12.85 on Monday. The stock’s market cap is $3.01 billion. The company’s 50-day moving average price is $12.91 and its 200-day moving average price is $12.96. Pandora Media has a 1-year low of $7.10 and a 1-year high of $14.98.
Pandora Media (NYSE:P) last posted its earnings results on Thursday, February 9th. The Internet radio service reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.08. Pandora Media had a negative net margin of 24.77% and a negative return on equity of 40.86%. The company earned $392.60 million during the quarter, compared to analysts’ expectations of $374.24 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. Pandora Media’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts predict that Pandora Media will post ($0.40) EPS for the current year.
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In other news, insider Christopher Douglas Martin sold 2,000 shares of Pandora Media stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $13.02, for a total value of $26,040.00. Following the completion of the transaction, the insider now owns 326,668 shares in the company, valued at $4,253,217.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 6,000 shares of company stock valued at $70,780 in the last quarter. Corporate insiders own 6.64% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Matrix Capital Management Company LP purchased a new position in shares of Pandora Media during the third quarter valued at approximately $325,962,000. Omega Advisors Inc. purchased a new position in shares of Pandora Media during the third quarter valued at approximately $39,019,000. Tiger Management L.L.C. purchased a new position in shares of Pandora Media during the second quarter valued at approximately $18,191,000. Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of Pandora Media during the third quarter valued at approximately $18,979,000. Finally, First Trust Advisors LP boosted its position in shares of Pandora Media by 29.5% in the third quarter. First Trust Advisors LP now owns 4,500,683 shares of the Internet radio service’s stock valued at $64,495,000 after buying an additional 1,025,730 shares in the last quarter.
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.
To view Vetr’s full report, visit Vetr’s official website.
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