Stifel Nicolaus Analysts Give Pandora Media, Inc. (P) a $12.00 Price Target

Stifel Nicolaus set a $12.00 price objective on Pandora Media, Inc. (NYSE:P) in a report released on Tuesday morning. The firm currently has a buy rating on the Internet radio service’s stock.

Other research analysts also recently issued research reports about the stock. Goldman Sachs Group, Inc. (The) raised 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. B. Riley reiterated a buy rating and issued a $15.00 target price on shares of Pandora Media in a report on Tuesday, May 9th. Canaccord Genuity reiterated a buy rating and issued a $5.50 target price on shares of Pandora Media in a report on Thursday, May 11th. SunTrust Banks, Inc. reiterated a buy rating and issued a $10.50 target price (down previously from $16.00) on shares of Pandora Media in a report on Friday, May 19th. Finally, Aegis reiterated a buy rating and issued a $15.00 target price on shares of Pandora Media in a report on Friday, May 19th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Pandora Media has an average rating of Hold and an average price target of $12.07.

Pandora Media (NYSE:P) traded down 0.94% during mid-day trading on Tuesday, hitting $8.41. The stock had a trading volume of 667,292 shares. Pandora Media has a one year low of $6.76 and a one year high of $14.98. The firm’s 50-day moving average is $8.91 and its 200 day moving average is $10.34. The stock’s market cap is $2.04 billion.

Pandora Media (NYSE:P) last released its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.08. The business had revenue of $376.83 million for the quarter, compared to the consensus estimate of $367.51 million. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. Pandora Media’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.12) EPS. Equities research analysts expect that Pandora Media will post ($0.51) EPS for the current year.

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In related news, CRO John Trimble sold 10,547 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total value of $88,805.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher Douglas Martin sold 3,000 shares of the company’s stock in a transaction dated 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 owns 257,921 shares in the company, valued at $2,367,714.78. The disclosure for this sale can be found here. Insiders sold 40,366 shares of company stock worth $342,162 over the last three months. Insiders own 2.59% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Pandora Media by 4.8% in the second quarter. Vanguard Group Inc. now owns 18,059,537 shares of the Internet radio service’s stock worth $161,092,000 after buying an additional 829,682 shares during the last quarter. Waddell & Reed Financial Inc. increased its stake in shares of Pandora Media by 9.1% in the first quarter. Waddell & Reed Financial Inc. now owns 13,919,032 shares of the Internet radio service’s stock worth $164,384,000 after buying an additional 1,156,593 shares during the last quarter. First Trust Advisors LP increased its stake in shares of 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 worth $64,077,000 after buying an additional 2,454,296 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of Pandora Media by 0.7% in the second quarter. Ontario Teachers Pension Plan Board now owns 7,046,899 shares of the Internet radio service’s stock worth $62,858,000 after buying an additional 46,899 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of 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 worth $66,851,000 after buying an additional 1,729,354 shares during the last quarter.

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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