Pandora Media, Inc. (NYSE:P) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday.
A number of other equities analysts also recently issued reports on P. Aegis reiterated a “buy” rating on shares of Pandora Media in a report on Wednesday, March 15th. Canaccord Genuity reiterated a “buy” rating and issued a $18.00 price target on shares of Pandora Media in a report on Thursday, March 30th. B. Riley reiterated a “buy” rating and issued a $15.00 price target on shares of Pandora Media in a report on Tuesday, May 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $15.00 price target on shares of Pandora Media in a report on Wednesday, April 19th. Finally, Goldman Sachs Group, Inc. (The) increased their price target on shares of Pandora Media from $16.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $13.31.
Shares of Pandora Media (NYSE:P) traded up 4.87% on Friday, hitting $8.18. 24,095,695 shares of the company traded hands. Pandora Media has a 12 month low of $6.76 and a 12 month high of $14.98. The stock’s 50-day moving average price is $9.05 and its 200-day moving average price is $11.55. The company’s market capitalization is $1.97 billion.
Pandora Media (NYSE:P) last announced its quarterly earnings data on Monday, May 8th. The Internet radio service reported ($0.37) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.13. The company had revenue of $316 million during the quarter, compared to the consensus estimate of $318.15 million. Pandora Media had a negative net margin of 25.66% and a negative return on equity of 45.15%. Pandora Media’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.20) EPS. On average, equities analysts predict that Pandora Media will post ($0.51) earnings per share for the current year.
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In other news, President Michael S. Herring sold 11,730 shares of Pandora Media stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total transaction of $110,027.40. Following the sale, the president now owns 548,230 shares in the company, valued at $5,142,397.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stephen G. Bene sold 6,161 shares of Pandora Media stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total transaction of $57,790.18. Following the sale, the general counsel now owns 272,060 shares in the company, valued at approximately $2,551,922.80. The disclosure for this sale can be found here. Insiders have sold 46,642 shares of company stock worth $446,234 in the last quarter. Insiders own 6.64% of the company’s stock.
Several hedge funds have recently bought and sold shares of P. Stoneridge Investment Partners LLC raised its stake in shares of Pandora Media by 54.1% in the first quarter. Stoneridge Investment Partners LLC now owns 89,225 shares of the Internet radio service’s stock worth $1,054,000 after buying an additional 31,339 shares during the period. State Street Corp raised its stake in shares of Pandora Media by 0.9% in the fourth quarter. State Street Corp now owns 2,839,097 shares of the Internet radio service’s stock worth $37,022,000 after buying an additional 24,152 shares during the period. Franklin Resources Inc. raised its stake in shares of Pandora Media by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 13,315 shares of the Internet radio service’s stock worth $174,000 after buying an additional 1,190 shares during the period. SLS Management LLC raised its stake in shares of Pandora Media by 46.0% in the first quarter. SLS Management LLC now owns 695,636 shares of the Internet radio service’s stock worth $8,215,000 after buying an additional 219,250 shares during the period. Finally, Teachers Advisors LLC raised its stake in shares of Pandora Media by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 1,043,059 shares of the Internet radio service’s stock worth $13,601,000 after buying an additional 41,279 shares during the period.
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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