Pandora Media (P) Receives New Coverage from Analysts at Evercore ISI
A number of other brokerages also recently weighed in on P. Zacks Investment Research downgraded Pandora Media from a hold rating to a sell rating in a report on Thursday, October 5th. Stifel Nicolaus set a $12.00 target price on Pandora Media and gave the company a buy rating in a research note on Tuesday, October 31st. Canaccord Genuity restated a buy rating and issued a $14.00 target price on shares of Pandora Media in a research note on Monday, October 30th. FBR & Co reaffirmed a buy rating and issued a $11.00 price target on shares of Pandora Media in a research report on Tuesday, October 31st. Finally, BMO Capital Markets raised Pandora Media from a market perform rating to an outperform rating and cut their price objective for the stock from $11.00 to $7.00 in a research report on Thursday, November 16th. Three equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pandora Media presently has an average rating of Hold and an average price target of $10.94.
Pandora Media (NYSE:P) traded down $0.02 during trading hours on Tuesday, reaching $4.75. The company had a trading volume of 12,865,500 shares, compared to its average volume of 9,844,884. Pandora Media has a twelve month low of $4.44 and a twelve month high of $14.10. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 1.58.
In related news, General Counsel Stephen G. Bene sold 7,967 shares of Pandora Media stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $5.11, for a total transaction of $40,711.37. Following the completion of the transaction, the general counsel now directly owns 330,865 shares of the company’s stock, valued at approximately $1,690,720.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO John Trimble sold 10,204 shares of Pandora Media stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $5.11, for a total transaction of $52,142.44. Following the transaction, the executive now directly owns 454,645 shares of the company’s stock, valued at $2,323,235.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,682 shares of company stock worth $192,555. Corporate insiders own 2.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of P. Falcon Point Capital LLC bought a new stake in shares of Pandora Media in the second quarter worth approximately $102,000. Prudential Financial Inc. bought a new stake in Pandora Media during the second quarter valued at approximately $109,000. Fox Run Management L.L.C. bought a new stake in Pandora Media during the third quarter valued at approximately $111,000. Symmetry Peak Management LLC bought a new stake in Pandora Media during the second quarter valued at approximately $112,000. Finally, Aperio Group LLC bought a new position in shares of Pandora Media in the second quarter worth approximately $115,000.
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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