Bank of America Corp. lowered shares of Pandora Media Inc. (NYSE:P) from a neutral rating to an underperform rating in a research note published on Monday morning. They currently have $9.00 price objective on the Internet radio service’s stock, down from their prior price objective of $14.00.

Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Pandora Media from a hold rating to a sell rating in a research note on Tuesday, October 11th. Goldman Sachs Group Inc. raised shares of Pandora Media from a buy rating to a conviction-buy rating and upped their target price for the stock from $17.00 to $19.00 in a research note on Tuesday, October 4th. B. Riley reaffirmed a buy rating and set a $18.00 target price on shares of Pandora Media in a research note on Sunday, October 2nd. Vetr raised shares of Pandora Media from a buy rating to a strong-buy rating and set a $16.06 target price on the stock in a research note on Thursday, September 29th. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and set a $19.00 target price on shares of Pandora Media in a research note on Tuesday, September 27th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $15.65.

Pandora Media (NYSE:P) traded up 2.83% during midday trading on Monday, hitting $12.73. 1,676,568 shares of the stock traded hands. The company has a 50-day moving average price of $13.97 and a 200 day moving average price of $12.10. The stock’s market cap is $2.94 billion. Pandora Media has a one year low of $7.10 and a one year high of $20.16.

Pandora Media (NYSE:P) last announced 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. 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. Equities research analysts anticipate that Pandora Media will post ($0.39) earnings per share for the current year.

In other news, insider Christopher Douglas Martin sold 2,000 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 336,569 shares of the company’s stock, valued at $4,499,927.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher W. Phillips sold 12,274 shares of the stock in a transaction that occurred 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 directly owns 288,878 shares of the company’s stock, valued at $3,509,867.70. The disclosure for this sale can be found here. Company insiders own 6.64% of the company’s stock.

Several large investors have recently bought and sold shares of P. Nomura Holdings Inc. acquired a new stake in Pandora Media during the second quarter valued at $169,000. Public Employees Retirement System of Ohio boosted 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 in the last quarter. Freshford Capital Management LLC acquired a new stake in Pandora Media during the second quarter valued at $6,163,000. Amalgamated Bank boosted 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 in the last quarter. Finally, Legal & General Group Plc boosted 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 in 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.

5 Day Chart for NYSE:P

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