A number of other research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Pandora Media from a sell rating to a hold rating in a research report on Wednesday, October 18th. Piper Jaffray Companies set a $13.00 target price on shares of Pandora Media and gave the company a buy rating in a research report on Friday, October 6th. FBR & Co reaffirmed a buy rating and issued a $11.00 target price on shares of Pandora Media in a research report on Monday, September 25th. ValuEngine downgraded shares of Pandora Media from a sell rating to a strong sell rating in a research report on Friday, September 22nd. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $11.00 target price on shares of Pandora Media in a research report on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Pandora Media has a consensus rating of Hold and a consensus price target of $11.81.
Pandora Media (NYSE:P) last released its 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 during 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%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.12) earnings per share.
TRADEMARK VIOLATION WARNING: This piece of content was reported by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.com-unik.info/2017/11/02/wedbush-analysts-give-pandora-media-inc-p-a-15-00-price-target.html.
In other Pandora Media news, EVP David Gerbitz sold 9,959 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $83,854.78. Following the sale, the executive vice president now directly owns 355,607 shares of the company’s stock, valued at approximately $2,994,210.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher W. Phillips sold 10,322 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 $86,911.24. Following the sale, the insider now directly owns 423,872 shares in the company, valued at $3,569,002.24. The disclosure for this sale can be found here. Insiders have sold a total of 67,366 shares of company stock worth $564,822 over the last ninety days. 2.59% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Falcon Point Capital LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $102,000. Prudential Financial Inc. bought a new stake in Pandora Media during the 2nd quarter worth approximately $109,000. Symmetry Peak Management LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $112,000. Aperio Group LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $115,000. Finally, Virtu Financial LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $121,000.
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.
What are top analysts saying about Pandora Media Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Pandora Media Inc. and related companies.