Pandora Media, Inc. (NYSE:P)‘s stock had its “neutral” rating reiterated by analysts at Credit Suisse Group in a report released on Tuesday, August 1st. They currently have a $8.95 target price on the Internet radio service’s stock, up from their prior target price of $8.55. Credit Suisse Group’s price target would indicate a potential upside of 8.22% from the company’s previous close.
Other research analysts have also issued research reports about the stock. Goldman Sachs Group, Inc. (The) increased their price target 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. Instinet decreased their price target on shares of Pandora Media from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 9th. Aegis restated a “buy” rating and issued a $13.00 price objective on shares of Pandora Media in a report 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 report 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 report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.07.
Shares of Pandora Media (P) opened at 8.27 on Tuesday. The stock has a 50 day moving average price of $8.89 and a 200-day moving average price of $10.31. Pandora Media has a 52 week low of $6.76 and a 52 week high of $14.98. The firm’s market capitalization is $2.01 billion.
Pandora Media (NYSE:P) last announced its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) EPS for the quarter, beating the Zacks’ 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 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% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. On average, analysts anticipate that Pandora Media will post ($0.51) EPS for the current year.
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In other Pandora Media news, insider Christopher Douglas Martin sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $9.18, for a total transaction of $27,540.00. Following the completion of the sale, the insider now directly owns 257,921 shares in the company, valued at approximately $2,367,714.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Stephen G. Bene sold 6,538 shares of the business’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 $55,049.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,366 shares of company stock valued at $342,162. 2.59% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Usca Ria LLC bought a new position in shares of Pandora Media during the first quarter worth about $393,000. Great West Life Assurance Co. Can increased its position in Pandora Media by 35.2% in the first quarter. Great West Life Assurance Co. Can now owns 27,248 shares of the Internet radio service’s stock valued at $321,000 after buying an additional 7,100 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in Pandora Media by 8.1% in the first quarter. Kornitzer Capital Management Inc. KS now owns 1,966,970 shares of the Internet radio service’s stock valued at $23,230,000 after buying an additional 147,350 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in Pandora Media by 32.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,757,185 shares of the Internet radio service’s stock valued at $20,752,000 after buying an additional 432,760 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in Pandora Media during the first quarter valued at $239,000.
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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