Pandora Media, Inc. (P) Cut to Neutral at J P Morgan Chase & Co

Pandora Media, Inc. (NYSE:P) was downgraded by J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report released on Friday.

Several other analysts have also recently weighed in on the stock. Credit Suisse Group reissued a “neutral” rating and issued a $8.95 price target (up previously from $8.55) on shares of Pandora Media in a research note on Tuesday, August 1st. Wedbush reaffirmed a “buy” rating on shares of Pandora Media in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of Pandora Media from a “sell” rating to a “hold” rating in a research report on Friday. Stifel Nicolaus cut shares of Pandora Media from a “buy” rating to a “hold” rating and decreased their price target for the company from $12.00 to $8.00 in a research report on Friday. Finally, SunTrust Banks, Inc. lowered shares of Pandora Media from a “buy” rating to a “hold” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Pandora Media presently has a consensus rating of “Hold” and a consensus target price of $11.45.

Pandora Media (NYSE:P) last posted its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The business had revenue of $378.60 million for the quarter, compared to analyst estimates of $380.54 million. During the same period in the prior year, the company posted ($0.07) EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis.

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In other Pandora Media news, insider Christopher W. Phillips sold 10,322 shares of Pandora Media stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $86,911.24. Following the sale, the insider now owns 423,872 shares in the company, valued at $3,569,002.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stephen G. Bene sold 6,538 shares of Pandora Media stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $55,049.96. The disclosure for this sale can be found here. Insiders have sold 67,366 shares of company stock worth $564,822 in the last quarter. Corporate insiders own 2.59% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of P. UBS Asset Management Americas Inc. boosted its stake in Pandora Media by 23.4% during the first quarter. UBS Asset Management Americas Inc. now owns 155,637 shares of the Internet radio service’s stock worth $1,838,000 after buying an additional 29,487 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Pandora Media by 4.6% during the first quarter. Parametric Portfolio Associates LLC now owns 183,961 shares of the Internet radio service’s stock valued at $2,173,000 after acquiring an additional 8,143 shares during the period. Principal Financial Group Inc. bought a new position in shares of Pandora Media during the first quarter valued at $446,000. FMR LLC lifted its holdings in shares of Pandora Media by 80.5% during the first quarter. FMR LLC now owns 2,105,894 shares of the Internet radio service’s stock valued at $24,871,000 after acquiring an additional 939,500 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Pandora Media by 145.8% during the first quarter. Legal & General Group Plc now owns 70,118 shares of the Internet radio service’s stock valued at $828,000 after acquiring an additional 41,597 shares during the period.

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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