Pandora Media Inc. (NYSE:P) had its target price lowered by MKM Partners from $13.00 to $12.00 in a report published on Wednesday morning. The brokerage currently has a neutral rating on the Internet radio service’s stock.

““We are lowering our Q4 estimates for revenue growth and EBITDA after another disappointing quarter. We cut our forecast for revenue growth by 700bps to $368mn (9% y/y), and cut our 2017 revenue growth estimate to 13%. Our new non-GAAP EPS estimate for Q4 has been lowered by $0.24 to a ($0.23).”,” the firm’s analyst commented.

P has been the topic of several other reports. FBR & Co reaffirmed an outperform rating and issued a $16.00 price target on shares of Pandora Media in a report on Tuesday, July 26th. Mizuho reaffirmed a neutral rating and issued a $11.00 price target on shares of Pandora Media in a report on Thursday, August 4th. Piper Jaffray Cos. set a $18.00 price target on shares of Pandora Media and gave the stock a buy rating in a report on Friday, August 19th. Vetr lowered shares of Pandora Media from a strong-buy rating to a buy rating and set a $14.89 price target on the stock. in a report on Monday, August 22nd. Finally, Bank of America Corp. reaffirmed a neutral rating and issued a $14.00 price target (up from $12.00) on shares of Pandora Media in a report on Tuesday, August 23rd. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Pandora Media presently has a consensus rating of Hold and a consensus price target of $14.47.

Analyst Recommendations for Pandora Media (NYSE:P)

Pandora Media (NYSE:P) traded up 0.18% during trading on Wednesday, hitting $10.98. The stock had a trading volume of 2,909,730 shares. The firm has a 50 day moving average of $11.90 and a 200-day moving average of $12.51. The stock’s market cap is $2.56 billion. Pandora Media has a 12 month low of $7.10 and a 12 month high of $16.23.

Pandora Media (NYSE:P) last posted its quarterly earnings results on Tuesday, October 25th. The Internet radio service reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $351.90 million for the quarter, compared to the consensus estimate of $1.40 billion. Pandora Media had a negative net margin of 20.50% and a negative return on equity of 30.45%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. Equities analysts predict that Pandora Media will post ($0.62) earnings per share for the current year.

In related news, insider Christopher Douglas Martin sold 2,000 shares of the company’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $13.37, for a total value of $26,740.00. Following 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.64% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pandora Media by 12.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,074 shares of the Internet radio service’s stock valued at $116,000 after buying an additional 876 shares in the last quarter. Gruss & Co. Inc. acquired a new stake in shares of Pandora Media during the second quarter worth $125,000. Osterweis Capital Management Inc. acquired a new stake in shares of Pandora Media during the second quarter worth $125,000. Passport Capital LLC acquired a new stake in shares of Pandora Media during the second quarter worth $127,000. Finally, DIAM Co. Ltd. acquired a new stake in shares of Pandora Media during the third quarter worth $133,000.

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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.

5 Day Chart for NYSE:P

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