Pandora Media, Inc. (P) Rating Lowered to Hold at Stifel Nicolaus

Pandora Media, Inc. (NYSE:P) was downgraded by stock analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Friday. They presently have a $8.00 price objective on the Internet radio service’s stock, down from their previous price objective of $12.00. Stifel Nicolaus’ target price would suggest a potential upside of 43.11% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Pandora Media in a research note on Thursday, July 6th. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 price objective (down previously from $15.00) on shares of Pandora Media in a research note on Tuesday, August 1st. Citigroup Inc. reiterated a “buy” rating and issued a $11.00 price objective (down previously from $12.00) on shares of Pandora Media in a research note on Tuesday, August 1st. Wedbush reiterated a “buy” rating on shares of Pandora Media in a research note on Tuesday, August 1st. Finally, FBR & Co reiterated a “buy” rating and issued a $11.00 price objective on shares of Pandora Media in a research note on Tuesday, August 15th. Three equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pandora Media presently has a consensus rating of “Hold” and a consensus target price of $11.24.

Shares of Pandora Media (NYSE P) opened at $5.59 on Friday. Pandora Media has a 52 week low of $5.35 and a 52 week high of $14.10. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 1.65.

Pandora Media (NYSE:P) last released its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 63.80%. The company had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $380.54 million. During the same quarter last year, the business earned ($0.07) EPS. The business’s revenue was up 7.6% on a year-over-year basis. equities research analysts expect that Pandora Media will post -1.04 EPS for the current fiscal year.

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In related news, CRO John Trimble sold 10,547 shares of the company’s stock in a transaction on 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 legal filing with the SEC, which can be accessed through this link. Also, EVP David Gerbitz sold 9,959 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 355,607 shares in the company, valued at $2,994,210.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,366 shares of company stock worth $564,822. 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 the stock. Public Employees Retirement Association of Colorado raised its holdings in Pandora Media by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 49,301 shares of the Internet radio service’s stock valued at $440,000 after acquiring an additional 125 shares in the last quarter. Voya Investment Management LLC raised its holdings in Pandora Media by 0.9% in the second quarter. Voya Investment Management LLC now owns 87,150 shares of the Internet radio service’s stock valued at $777,000 after acquiring an additional 740 shares in the last quarter. Utah Retirement Systems raised its holdings in Pandora Media by 3.0% in the second quarter. Utah Retirement Systems now owns 41,286 shares of the Internet radio service’s stock valued at $368,000 after acquiring an additional 1,200 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Pandora Media by 6.8% in the second quarter. Teacher Retirement System of Texas now owns 18,906 shares of the Internet radio service’s stock valued at $169,000 after acquiring an additional 1,204 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in Pandora Media by 1.0% in the second quarter. Stephens Inc. AR now owns 151,744 shares of the Internet radio service’s stock valued at $1,354,000 after acquiring an additional 1,496 shares in 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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