Pandora Media Inc. (P) Price Target Cut to $14.00
Pandora Media Inc. (NYSE:P) had its target price lowered by equities research analysts at Credit Suisse Group AG from $16.00 to $14.00 in a report released on Monday. The brokerage currently has a “neutral” rating on the Internet radio service’s stock. Credit Suisse Group AG’s price objective would suggest a potential upside of 12.00% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. MKM Partners reissued a “hold” rating and set a $11.50 price target on shares of Pandora Media in a research report on Saturday, July 9th. B. Riley reissued a “buy” rating and set a $15.00 price target on shares of Pandora Media in a research report on Thursday, June 23rd. Finally, Vetr downgraded shares of Pandora Media from a “strong-buy” rating to a “buy” rating and set a $15.56 price target for the company. in a research report on Tuesday, September 13th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Pandora Media currently has a consensus rating of “Buy” and a consensus target price of $15.65.
Shares of Pandora Media (NYSE:P) opened at 12.50 on Monday. Pandora Media has a 12 month low of $7.10 and a 12 month high of $19.59. The company has a 50-day moving average price of $13.91 and a 200-day moving average price of $12.12. The company’s market capitalization is $2.89 billion.
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, beating the Zacks’ 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 business earned $343 million during the quarter, compared to the consensus estimate of $351.48 million. 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 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 transaction of $149,129.10. Following the completion of the sale, the insider now owns 288,878 shares of the company’s stock, valued at $3,509,867.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Douglas Martin sold 2,000 shares of the stock in a transaction that occurred 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 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. Corporate insiders own 6.64% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Gruss & Co. Inc. bought a new position in shares of Pandora Media during the second quarter worth about $125,000. Osterweis Capital Management Inc. bought a new position in shares of Pandora Media during the second quarter worth about $125,000. Passport Capital LLC bought a new position in shares of Pandora Media during the second quarter worth about $127,000. Franklin Resources Inc. bought a new position in shares of Pandora Media during the second quarter worth about $144,000. Finally, Natixis bought a new position in shares of Pandora Media during the first quarter worth about $159,000.
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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