Brokerages Set Pandora Media Inc (P) PT at $8.12

Shares of Pandora Media Inc (NYSE:P) have received an average rating of “Hold” from the twenty-nine brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $8.12.

Several research analysts have recently commented on P shares. Needham & Company LLC lowered Pandora Media from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. William Blair lowered Pandora Media from an “outperform” rating to a “market perform” rating in a research report on Monday, September 24th. SunTrust Banks lowered Pandora Media from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Aegis lowered Pandora Media from a “buy” rating to a “hold” rating and set a $8.75 target price for the company. in a research report on Monday, September 24th. Finally, Cascend Securities upgraded Pandora Media from a “sell” rating to a “hold” rating in a research report on Monday, September 24th.

Shares of NYSE:P traded down $0.21 during mid-day trading on Thursday, hitting $8.58. 368,565 shares of the company traded hands, compared to its average volume of 6,852,240. The company has a market cap of $2.34 billion, a P/E ratio of -7.00 and a beta of -0.48. The company has a debt-to-equity ratio of 4.85, a quick ratio of 2.51 and a current ratio of 2.51. Pandora Media has a 52-week low of $4.09 and a 52-week high of $10.07.

Pandora Media (NYSE:P) last posted its quarterly earnings data on Monday, November 5th. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.05. Pandora Media had a negative return on equity of 330.21% and a negative net margin of 23.85%. The company had revenue of $417.63 million for the quarter, compared to the consensus estimate of $400.69 million. During the same period in the previous year, the business earned ($0.06) EPS. Pandora Media’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts predict that Pandora Media will post -0.92 earnings per share for the current year.

In other news, insider S Aimee Lapic sold 96,814 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $8.86, for a total value of $857,772.04. Following the sale, the insider now owns 436,335 shares of the company’s stock, valued at approximately $3,865,928.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO John Trimble sold 75,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $8.71, for a total value of $653,250.00. Following the completion of the sale, the executive now directly owns 620,916 shares in the company, valued at approximately $5,408,178.36. The disclosure for this sale can be found here. Insiders have sold a total of 280,711 shares of company stock valued at $2,480,205 in the last quarter. 0.43% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Exane Derivatives acquired a new stake in shares of Pandora Media during the third quarter worth $124,000. Harvest Management LLC acquired a new stake in shares of Pandora Media during the third quarter worth $143,000. Ibex Investors LLC acquired a new stake in shares of Pandora Media during the third quarter worth $202,000. Pacer Advisors Inc. acquired a new stake in shares of Pandora Media during the third quarter worth $237,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Pandora Media during the second quarter worth $212,000. 98.01% of the stock is currently owned by institutional investors.

About Pandora Media

Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora—Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.

Further Reading: Bond

Analyst Recommendations for Pandora Media (NYSE:P)

Receive News & Ratings for Pandora Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit