Pandora Media’s (P) Buy Rating Reaffirmed at JPMorgan Chase & Co.
JPMorgan Chase & Co. restated their buy rating on shares of Pandora Media Inc. (NYSE:P) in a research report sent to investors on Tuesday. They currently have a $19.00 target price on the Internet radio service’s stock.
Several other research analysts have also commented on P. Vetr raised Pandora Media from a sell rating to a buy rating and set a $12.64 price objective on the stock in a research report on Wednesday, June 1st. Citigroup Inc. reissued a buy rating and issued a $16.00 price objective on shares of Pandora Media in a research report on Wednesday, June 8th. Axiom Securities upgraded Pandora Media from a hold rating to a buy rating and set a $16.00 target price for the company in a research note on Thursday, June 9th. Albert Fried & Company restated a buy rating on shares of Pandora Media in a research note on Monday, June 13th. Finally, Scotiabank upgraded Pandora Media from an underperform rating to a sector perform rating in a research note on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Pandora Media has an average rating of Buy and a consensus target price of $15.79.
Pandora Media (NYSE:P) opened at 14.14 on Tuesday. The company’s 50-day moving average price is $13.80 and its 200 day moving average price is $11.71. Pandora Media has a 1-year low of $7.10 and a 1-year high of $22.20. The firm’s market capitalization is $3.27 billion.
Pandora Media (NYSE:P) last issued its earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. The business had revenue of $343 million for the quarter, compared to analyst estimates of $351.48 million. Pandora Media had a negative return on equity of 25.53% and a negative net margin of 23.04%. On average, equities analysts anticipate that Pandora Media will post ($0.39) EPS for the current year.
In related news, insider Christopher W. Phillips sold 12,274 shares of Pandora Media stock in a transaction on Monday, July 25th. The shares were sold at an average price of $12.15, for a total value of $149,129.10. Following the completion of the sale, the insider now owns 288,878 shares of the company’s stock, valued at approximately $3,509,867.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher Douglas Martin sold 2,000 shares of Pandora Media stock in a transaction on Friday, September 16th. The shares were sold at an average price of $13.37, for a total transaction of $26,740.00. Following the completion of the sale, the insider now directly owns 336,569 shares of the company’s stock, valued at approximately $4,499,927.53. The disclosure for this sale can be found here. Insiders own 6.64% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. acquired a new stake in Pandora Media during the second quarter valued at about $169,000. Public Employees Retirement System of Ohio raised its stake in Pandora Media by 6.6% in the second quarter. Public Employees Retirement System of Ohio now owns 45,961 shares of the Internet radio service’s stock valued at $572,000 after buying an additional 2,860 shares during the last quarter. Freshford Capital Management LLC acquired a new stake in Pandora Media during the second quarter valued at about $6,163,000. Amalgamated Bank raised its stake in Pandora Media by 35.7% in the second quarter. Amalgamated Bank now owns 33,936 shares of the Internet radio service’s stock valued at $452,000 after buying an additional 8,933 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Pandora Media by 4.5% in the second quarter. Legal & General Group Plc now owns 15,023 shares of the Internet radio service’s stock valued at $187,000 after buying an additional 650 shares during 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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