Pandora Media (P) Now Covered by Evercore ISI

Analysts at Evercore ISI began coverage on shares of Pandora Media (NYSE:P) in a report released on Tuesday. The brokerage set an “in-line” rating and a $5.50 price target on the Internet radio service’s stock. Evercore ISI’s target price suggests a potential upside of 14.11% from the company’s previous close.

A number of other brokerages have also recently issued reports on P. Morgan Stanley reiterated an “overweight” rating and set a $12.00 target price on shares of Pandora Media in a research report on Wednesday, August 23rd. BidaskClub raised shares of Pandora Media from a “sell” rating to a “hold” rating in a report on Friday, August 18th. FBR & Co reissued a “buy” rating and set a $11.00 price objective on shares of Pandora Media in a report on Tuesday, August 15th. Stifel Nicolaus set a $12.00 price objective on shares of Pandora Media and gave the stock a “buy” rating in a report on Tuesday, August 15th. Finally, KeyCorp reissued a “hold” rating on shares of Pandora Media in a report on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating, twenty-six have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $10.94.

Shares of Pandora Media (NYSE:P) opened at $4.82 on Tuesday. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 1.58. Pandora Media has a 1 year low of $4.44 and a 1 year high of $14.10.

Pandora Media (NYSE:P) last announced its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $380.54 million. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 74.78%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) EPS. sell-side analysts expect that Pandora Media will post -1.09 earnings per share for the current fiscal year.

In related news, CRO John Trimble sold 10,204 shares of Pandora Media stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $5.11, for a total transaction of $52,142.44. Following the transaction, the executive now owns 454,645 shares of the company’s stock, valued at approximately $2,323,235.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher W. Phillips sold 9,988 shares of Pandora Media stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total transaction of $51,038.68. Following the transaction, the insider now directly owns 413,884 shares in the company, valued at approximately $2,114,947.24. The disclosure for this sale can be found here. Insiders have sold a total of 37,682 shares of company stock worth $192,555 in the last three months. 2.59% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Falcon Point Capital LLC acquired a new stake in Pandora Media during the 2nd quarter worth approximately $102,000. Prudential Financial Inc. acquired a new stake in Pandora Media during the 2nd quarter worth approximately $109,000. Fox Run Management L.L.C. acquired a new stake in Pandora Media during the 3rd quarter worth approximately $111,000. Symmetry Peak Management LLC acquired a new stake in Pandora Media during the 2nd quarter worth approximately $112,000. Finally, Aperio Group LLC acquired a new stake in Pandora Media during the 2nd quarter worth approximately $115,000.

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About Pandora Media

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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