Pandora Media (P) Cut to Equal Weight at Morgan Stanley

Morgan Stanley cut shares of Pandora Media (NYSE:P) from an overweight rating to an equal weight rating in a research report released on Monday, MarketBeat reports. The brokerage currently has $6.00 price objective on the Internet radio service’s stock, down from their previous price objective of $12.00.

A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered Pandora Media from a hold rating to a sell rating in a research note on Thursday, October 5th. Stifel Nicolaus set a $12.00 target price on Pandora Media and gave the stock a buy rating in a research note on Tuesday, October 31st. Canaccord Genuity restated a buy rating and issued a $14.00 target price on shares of Pandora Media in a research note on Monday, October 30th. BMO Capital Markets upgraded Pandora Media from a market perform rating to an outperform rating and decreased their target price for the stock from $11.00 to $7.00 in a research note on Thursday, November 16th. Finally, FBR & Co restated a buy rating and issued a $11.00 target price on shares of Pandora Media in a research note on Tuesday, October 31st. Four research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $10.64.

Shares of Pandora Media (NYSE P) traded down $0.03 on Monday, reaching $4.53. The company had a trading volume of 9,033,500 shares, compared to its average volume of 8,716,972. The stock has a market cap of $1,140.00, a PE ratio of -1.82 and a beta of -0.25. The company has a debt-to-equity ratio of 1.58, a current ratio of 4.18 and a quick ratio of 4.18. Pandora Media has a twelve month low of $4.44 and a twelve month high of $13.72.

Pandora Media (NYSE:P) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $380.54 million. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) EPS. research analysts predict that Pandora Media will post -1.09 earnings per share for the current year.

In related news, General Counsel Stephen G. Bene sold 7,967 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $5.11, for a total transaction of $40,711.37. Following the completion of the sale, the general counsel now directly owns 330,865 shares in the company, valued at approximately $1,690,720.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Roger Lynch sold 78,707 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $4.77, for a total value of $375,432.39. Following the sale, the chief executive officer now owns 701,607 shares of the company’s stock, valued at $3,346,665.39. The disclosure for this sale can be found here. Insiders have sold a total of 116,389 shares of company stock valued at $567,987 over the last 90 days. 2.59% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC lifted its holdings in Pandora Media by 0.9% in the 2nd quarter. Voya Investment Management LLC now owns 87,150 shares of the Internet radio service’s stock worth $777,000 after buying an additional 740 shares during the period. Utah Retirement Systems lifted its holdings in Pandora Media by 3.0% in the 2nd quarter. Utah Retirement Systems now owns 41,286 shares of the Internet radio service’s stock worth $368,000 after buying an additional 1,200 shares during the period. Stephens Inc. AR lifted its holdings in Pandora Media by 1.0% in the 2nd quarter. Stephens Inc. AR now owns 151,744 shares of the Internet radio service’s stock worth $1,354,000 after buying an additional 1,496 shares during the period. Pacer Advisors Inc. lifted its holdings in Pandora Media by 12.0% in the 2nd quarter. Pacer Advisors Inc. now owns 32,494 shares of the Internet radio service’s stock worth $290,000 after buying an additional 3,477 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in Pandora Media by 47.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 15,500 shares of the Internet radio service’s stock worth $139,000 after buying an additional 5,000 shares during the period.

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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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