Piper Jaffray Companies restated their overweight rating on shares of Pandora Media Inc (NYSE:P) in a research report report published on Wednesday morning. They currently have a $18.00 target price on the Internet radio service’s stock.
Several other research analysts also recently commented on the stock. Mizuho reaffirmed a neutral rating and issued a $12.00 price objective on shares of Pandora Media in a report on Friday, December 23rd. Citigroup Inc reaffirmed a buy rating and issued a $16.00 price objective on shares of Pandora Media in a report on Saturday, January 14th. Vetr raised shares of Pandora Media from a buy rating to a strong-buy rating and set a $13.90 price objective for the company in a report on Monday, January 9th. OTR Global downgraded shares of Pandora Media to a neutral rating in a report on Tuesday, January 31st. Finally, BMO Capital Markets raised their price objective on shares of Pandora Media to $13.00 in a report on Tuesday, February 21st. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $14.63.
Pandora Media (NYSE:P) traded down 1.35% during mid-day trading on Wednesday, hitting $11.69. 718,139 shares of the company’s stock were exchanged. The stock’s market cap is $2.75 billion. Pandora Media has a 12 month low of $8.05 and a 12 month high of $14.98. The stock’s 50 day moving average price is $12.48 and its 200-day moving average price is $12.71.
Pandora Media (NYSE:P) last released its quarterly earnings data on Thursday, February 9th. The Internet radio service reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.08. The company earned $392.60 million during the quarter, compared to the consensus estimate of $374.24 million. Pandora Media had a negative net margin of 24.77% and a negative return on equity of 40.86%. Pandora Media’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. Equities analysts expect that Pandora Media will post ($0.44) EPS for the current fiscal year.
In related news, EVP David Gerbitz sold 35,000 shares of Pandora Media stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $13.08, for a total transaction of $457,800.00. Following the completion of the transaction, the executive vice president now directly owns 250,626 shares of the company’s stock, valued at approximately $3,278,188.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher Douglas Martin sold 2,000 shares of Pandora Media stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $12.86, for a total transaction of $25,720.00. Following the transaction, the insider now directly owns 324,668 shares of the company’s stock, valued at $4,175,230.48. The disclosure for this sale can be found here. Insiders have sold a total of 92,963 shares of company stock worth $1,177,514 in the last ninety days. Insiders own 6.64% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. River & Mercantile Asset Management LLP acquired a new position in shares of Pandora Media during the fourth quarter worth about $1,927,000. Norges Bank acquired a new position in shares of Pandora Media during the fourth quarter worth about $4,461,000. Sapphire Ventures L.L.C. acquired a new position in shares of Pandora Media during the fourth quarter worth about $1,072,000. Thrivent Financial for Lutherans boosted its position in shares of Pandora Media by 37.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,127,360 shares of the Internet radio service’s stock worth $14,701,000 after buying an additional 305,560 shares during the period. Finally, Ratan Capital Management LP acquired a new position in shares of Pandora Media during the fourth quarter worth about $7,788,000.
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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