Pandora Media Inc. (NYSE:P) was upgraded by Goldman Sachs Group Inc. from a “buy” rating to a “conviction-buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $19.00 price target on the Internet radio service’s stock, up from their previous price target of $17.00. Goldman Sachs Group Inc.’s target price suggests a potential upside of 29.52% from the stock’s previous close.
Several other brokerages have also recently commented on P. B. Riley reaffirmed a “buy” rating and set a $18.00 price objective on shares of Pandora Media in a research note on Wednesday, September 7th. Pacific Crest reissued a “sell” rating on shares of Pandora Media in a research note on Monday, September 12th. Vetr raised shares of Pandora Media from a “buy” rating to a “strong-buy” rating and set a $16.27 price target for the company in a research note on Monday, September 12th. Piper Jaffray Cos. reissued a “buy” rating on shares of Pandora Media in a research note on Tuesday, September 13th. Finally, Macquarie reissued an “outperform” rating and issued a $17.00 price target (up previously from $16.00) on shares of Pandora Media in a research note on Monday, August 29th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Pandora Media has a consensus rating of “Buy” and an average price target of $15.91.
Pandora Media (NYSE:P) traded up 3.60% during trading on Tuesday, hitting $14.67. 10,229,313 shares of the stock traded hands. The stock’s market cap is $3.39 billion. The company has a 50-day moving average price of $13.91 and a 200-day moving average price of $11.83. Pandora Media has a 12 month low of $7.10 and a 12 month high of $22.20.
Pandora Media (NYSE:P) last issued its quarterly earnings data on Thursday, July 21st. The Internet radio service reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company earned $343 million during the quarter, compared to analysts’ expectations of $351.48 million. Pandora Media had a negative net margin of 23.04% and a negative return on equity of 25.53%. Equities research analysts expect that Pandora Media will post ($0.39) EPS for the current year.
In other Pandora Media news, insider Christopher W. Phillips sold 12,274 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $12.15, for a total transaction of $149,129.10. Following the sale, the insider now owns 288,878 shares in the company, valued at approximately $3,509,867.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher Douglas Martin sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $13.37, for a total transaction of $26,740.00. Following the sale, the insider now owns 336,569 shares in the company, valued at approximately $4,499,927.53. The disclosure for this sale can be found here. Company insiders own 6.64% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new stake in Pandora Media during the first quarter worth approximately $600,000. Seven Eight Capital LLC purchased a new stake in Pandora Media during the first quarter worth approximately $272,000. LPL Financial LLC boosted its stake in Pandora Media by 8.6% in the first quarter. LPL Financial LLC now owns 146,558 shares of the Internet radio service’s stock worth $1,316,000 after buying an additional 11,630 shares during the last quarter. Sterling Ridge Capital Management LP purchased a new stake in Pandora Media during the first quarter worth approximately $419,000. Finally, Natixis purchased a new stake in Pandora Media during the first quarter worth approximately $159,000.
Pandora Media Company Profile
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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