BidaskClub Downgrades Pandora Media, Inc. (P) to Strong Sell
Pandora Media, Inc. (NYSE:P) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday.
Several other equities research analysts have also recently commented on the company. Goldman Sachs Group, Inc. (The) increased their price objective on Pandora Media from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Instinet dropped their price objective on Pandora Media from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 9th. BMO Capital Markets reaffirmed a “hold” rating and set a $13.00 price objective on shares of Pandora Media in a research report on Monday, April 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $15.00 price objective on shares of Pandora Media in a research report on Wednesday, April 19th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $18.00 price objective on shares of Pandora Media in a research report on Wednesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Pandora Media currently has a consensus rating of “Hold” and a consensus target price of $13.35.
Pandora Media (NYSE:P) opened at 6.99 on Thursday. Pandora Media has a 12-month low of $6.98 and a 12-month high of $14.98. The firm’s 50-day moving average is $9.27 and its 200-day moving average is $11.63. The stock’s market capitalization is $1.68 billion.
Pandora Media (NYSE:P) last issued its quarterly earnings results on Monday, May 8th. The Internet radio service reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.13. Pandora Media had a negative return on equity of 45.15% and a negative net margin of 25.66%. The firm had revenue of $316 million during the quarter, compared to the consensus estimate of $318.15 million. During the same period last year, the company earned ($0.20) earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Analysts predict that Pandora Media will post ($0.51) EPS for the current fiscal year.
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In other news, insider Christopher Douglas Martin sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $11.65, for a total transaction of $34,950.00. Following the transaction, the insider now owns 275,569 shares of the company’s stock, valued at approximately $3,210,378.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stephen G. Bene sold 6,161 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total value of $57,790.18. Following the transaction, the general counsel now directly owns 272,060 shares in the company, valued at approximately $2,551,922.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,642 shares of company stock worth $446,234. Corporate insiders own 6.64% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in Pandora Media during the fourth quarter valued at $10,609,000. Bessemer Group Inc. increased its position in Pandora Media by 1.0% in the fourth quarter. Bessemer Group Inc. now owns 11,228 shares of the Internet radio service’s stock valued at $146,000 after buying an additional 110 shares in the last quarter. State Street Corp increased its position in Pandora Media by 0.9% in the fourth quarter. State Street Corp now owns 2,839,097 shares of the Internet radio service’s stock valued at $37,022,000 after buying an additional 24,152 shares in the last quarter. FMR LLC increased its position in Pandora Media by 38.5% in the fourth quarter. FMR LLC now owns 1,166,394 shares of the Internet radio service’s stock valued at $15,210,000 after buying an additional 324,400 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Pandora Media during the fourth quarter valued at $230,000.
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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