A number of other analysts have also recently issued reports on the stock. Goldman Sachs Group, Inc. (The) lifted their target price on shares of Pandora Media from $16.00 to $18.00 and gave the company a buy rating in a research note on Tuesday, May 9th. Instinet reduced their target price on shares of Pandora Media from $14.00 to $12.00 and set a neutral rating for the company in a research note on Tuesday, May 9th. Aegis reiterated a buy rating and issued a $13.00 target price on shares of Pandora Media in a research note on Friday, June 30th. BMO Capital Markets reiterated a hold rating and issued a $13.00 target price on shares of Pandora Media in a research note on Monday, April 17th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $15.00 target price on shares of Pandora Media in a research note on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $12.07.
Pandora Media (NYSE:P) opened at 8.40 on Tuesday. Pandora Media has a 1-year low of $6.76 and a 1-year high of $14.98. The firm’s 50-day moving average is $8.92 and its 200-day moving average is $10.37. The stock’s market cap is $2.04 billion.
Pandora Media (NYSE:P) last posted its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) EPS 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 analysts’ expectations of $367.51 million. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company posted ($0.12) earnings per share. On average, analysts forecast that Pandora Media will post ($0.50) EPS for the current year.
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In other news, insider Christopher Douglas Martin sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $9.18, for a total transaction of $27,540.00. Following the completion of the transaction, the insider now directly owns 257,921 shares of the company’s stock, valued at approximately $2,367,714.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.59% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of P. Norges Bank acquired a new position in shares of Pandora Media during the fourth quarter valued at $4,461,000. Teachers Advisors LLC boosted its position 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 valued at $13,601,000 after buying an additional 41,279 shares in the last quarter. Waldron LP acquired a new position in shares of Pandora Media during the first quarter valued at $167,000. Profund Advisors LLC boosted its position in shares of Pandora Media by 27.3% in the first quarter. Profund Advisors LLC now owns 99,201 shares of the Internet radio service’s stock valued at $1,172,000 after buying an additional 21,256 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Pandora Media by 154.4% in the first quarter. Russell Investments Group Ltd. now owns 2,071,238 shares of the Internet radio service’s stock valued at $24,461,000 after buying an additional 1,256,984 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.
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