Pandora Media, Inc. (P) Receives “Neutral” Rating from Credit Suisse Group

Pandora Media, Inc. (NYSE:P)‘s stock had its “neutral” rating restated by analysts at Credit Suisse Group in a research report issued to clients and investors on Tuesday, August 1st. They currently have a $8.95 price target on the Internet radio service’s stock, up from their previous price target of $8.55. Credit Suisse Group’s target price suggests a potential upside of 10.77% from the stock’s previous close.

Several other analysts have also recently commented on the company. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $16.00 target price on shares of Pandora Media in a research report on Wednesday, May 17th. FBR & Co raised Pandora Media from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $14.00 to $11.00 in a research report on Monday, June 12th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $10.50 price objective (down from $16.00) on shares of Pandora Media in a report on Friday, May 19th. Stifel Nicolaus reiterated a “buy” rating and set a $15.00 price objective on shares of Pandora Media in a report on Tuesday, May 9th. Finally, Instinet cut their price objective on Pandora Media from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, May 9th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $12.07.

Shares of Pandora Media (NYSE P) traded up 1.13% during midday trading on Tuesday, reaching $8.08. The company had a trading volume of 8,626,631 shares. The stock’s market capitalization is $1.96 billion. Pandora Media has a 52-week low of $6.76 and a 52-week high of $14.98. The company’s 50 day moving average price is $8.92 and its 200 day moving average price is $10.52.

Pandora Media (NYSE:P) last released its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.08. The business had revenue of $376.83 million during the quarter, compared to analyst estimates of $367.51 million. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company posted ($0.12) EPS. Equities research analysts expect that Pandora Media will post ($0.50) earnings per share for the current year.

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In other Pandora Media news, General Counsel Stephen G. Bene sold 6,161 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total value of $57,790.18. Following the sale, the general counsel now owns 272,060 shares in the company, valued at $2,551,922.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Douglas Martin sold 11,648 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $9.46, for a total transaction of $110,190.08. Following the completion of the sale, the insider now owns 269,569 shares in the company, valued at approximately $2,550,122.74. The disclosure for this sale can be found here. Insiders have sold a total of 40,642 shares of company stock worth $381,554 in the last quarter. 2.59% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. increased its position in Pandora Media by 789.9% in the second quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock valued at $27,758,000 after buying an additional 2,737,635 shares during the last quarter. First Trust Advisors LP increased its position in Pandora Media by 51.9% in the second quarter. First Trust Advisors LP now owns 7,183,485 shares of the Internet radio service’s stock valued at $64,077,000 after buying an additional 2,454,296 shares during the last quarter. Alliancebernstein L.P. increased its position in Pandora Media by 44.0% in the first quarter. Alliancebernstein L.P. now owns 5,660,574 shares of the Internet radio service’s stock valued at $66,851,000 after buying an additional 1,729,354 shares during the last quarter. York Capital Management Global Advisors LLC acquired a new position in Pandora Media during the first quarter valued at about $20,025,000. Finally, Nordea Investment Management AB acquired a new position in Pandora Media during the second quarter valued at about $14,821,000.

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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