Pandora Media’s (NYSE:P) “Buy” Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Pandora Media, Inc. (NYSE:P) in a research report sent to investors on Tuesday, August 1st. Stifel Nicolaus currently has a $12.00 price objective on the Internet radio service’s stock, down from their previous price objective of $14.00.

Several other research firms have also recently commented on P. Goldman Sachs Group, Inc. (The) raised their target price on shares of Pandora Media from $16.00 to $18.00 and gave the stock a buy rating in a research report on Tuesday, May 9th. B. Riley reaffirmed a buy rating and issued a $15.00 target price on shares of Pandora Media in a research report on Tuesday, May 9th. Canaccord Genuity reaffirmed a buy rating and issued a $5.50 target price on shares of Pandora Media in a research report on Thursday, May 11th. SunTrust Banks, Inc. reiterated a buy rating and issued a $10.50 price target (down from $16.00) on shares of Pandora Media in a research note on Friday, May 19th. Finally, Aegis reiterated a buy rating and issued a $15.00 price target on shares of Pandora Media in a research note on Friday, May 19th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $12.07.

Pandora Media (P) opened at 8.27 on Tuesday. The company’s 50-day moving average is $8.89 and its 200-day moving average is $10.31. Pandora Media has a 52 week low of $6.76 and a 52 week high of $14.98. The company’s market cap is $2.01 billion.

Pandora Media (NYSE:P) last announced its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ 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 revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) EPS. On average, analysts anticipate that Pandora Media will post ($0.51) EPS for the current fiscal year.

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In related news, CRO John Trimble sold 10,547 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $88,805.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Douglas Martin sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $9.18, for a total value of $27,540.00. Following the sale, the insider now owns 257,921 shares of the company’s stock, valued at approximately $2,367,714.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,366 shares of company stock valued at $342,162. 2.59% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of P. Public Employees Retirement System of Ohio boosted its stake in Pandora Media by 24.5% in the second quarter. Public Employees Retirement System of Ohio now owns 69,741 shares of the Internet radio service’s stock valued at $622,000 after buying an additional 13,742 shares during the last quarter. Highlander Capital Management LLC boosted its stake in shares of Pandora Media by 100.0% in the second quarter. Highlander Capital Management LLC now owns 26,000 shares of the Internet radio service’s stock worth $228,000 after buying an additional 13,000 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Pandora Media by 68.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 42,270 shares of the Internet radio service’s stock worth $377,000 after buying an additional 17,231 shares in the last quarter. PineView Asset Management LP boosted its stake in shares of Pandora Media by 24.5% in the second quarter. PineView Asset Management LP now owns 1,324,024 shares of the Internet radio service’s stock worth $11,810,000 after buying an additional 260,495 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new stake in shares of Pandora Media during the second quarter worth $892,000.

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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