Pandora Media Inc. (P) Earns Underweight Rating from Pacific Crest
Pandora Media Inc. (NYSE:P)‘s stock had its “underweight” rating reissued by equities research analysts at Pacific Crest in a research note issued on Monday.
P has been the topic of several other research reports. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Pandora Media in a report on Monday, September 26th. Macquarie restated an “outperform” rating and set a $17.00 price objective (up previously from $16.00) on shares of Pandora Media in a report on Monday, August 29th. MKM Partners upped their price objective on shares of Pandora Media from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, August 25th. FBR & Co reiterated an “outperform” rating and issued a $16.00 target price on shares of Pandora Media in a report on Tuesday, August 23rd. Finally, Axiom Securities reiterated a “buy” rating on shares of Pandora Media in a report on Monday, September 19th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $15.81.
Pandora Media (NYSE:P) traded down 3.001% on Monday, reaching $12.445. The company had a trading volume of 6,784,829 shares. The stock’s market capitalization is $2.88 billion. Pandora Media has a 12 month low of $7.10 and a 12 month high of $20.55. The firm has a 50-day moving average of $14.02 and a 200-day moving average of $12.04.
Pandora Media (NYSE:P) last released its quarterly earnings data on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. Pandora Media had a negative net margin of 23.04% and a negative return on equity of 25.53%. The firm had revenue of $343 million for the quarter, compared to the consensus estimate of $351.48 million. On average, equities research analysts expect that Pandora Media will post ($0.39) earnings per share for the current fiscal year.
In other news, insider Christopher Douglas Martin sold 2,000 shares of Pandora Media stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $13.37, for a total value of $26,740.00. Following the completion of the transaction, the insider now owns 336,569 shares of the company’s stock, valued at approximately $4,499,927.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher W. Phillips sold 12,274 shares of Pandora Media stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $12.15, for a total value of $149,129.10. Following the completion of the transaction, the insider now directly owns 288,878 shares of the company’s stock, valued at approximately $3,509,867.70. The disclosure for this sale can be found here. Insiders own 6.64% of the company’s stock.
Several institutional investors have recently bought and sold shares of P. Beech Hill Advisors Inc. bought a new position in Pandora Media during the second quarter valued at about $1,062,000. River & Mercantile Asset Management LLP raised its position in Pandora Media by 174.3% in the second quarter. River & Mercantile Asset Management LLP now owns 199,560 shares of the Internet radio service’s stock valued at $2,483,000 after buying an additional 126,800 shares in the last quarter. Creative Planning raised its position in Pandora Media by 72.7% in the second quarter. Creative Planning now owns 14,367 shares of the Internet radio service’s stock valued at $179,000 after buying an additional 6,050 shares in the last quarter. Squarepoint Ops LLC bought a new position in Pandora Media during the first quarter valued at about $600,000. Finally, Seven Eight Capital LLC bought a new position in Pandora Media during the first quarter valued at about $272,000.
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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