Pandora Media Inc. (P) Earns “Market Perform” Rating from Oppenheimer Holdings Inc.
Several other research analysts have also recently issued reports on the stock. Needham & Company LLC reissued a buy rating and set a $16.00 target price on shares of Pandora Media in a report on Thursday, September 15th. BMO Capital Markets reaffirmed a hold rating on shares of Pandora Media in a report on Wednesday, September 14th. Wedbush set a $15.00 price objective on shares of Pandora Media and gave the company a buy rating in a report on Wednesday, September 14th. Albert Fried & Company reaffirmed a buy rating and issued a $16.00 price objective on shares of Pandora Media in a report on Wednesday, September 14th. Finally, JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Pandora Media in a report on Wednesday, September 14th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $16.08.
Shares of Pandora Media (NYSE:P) opened at 13.49 on Thursday. The stock’s market capitalization is $3.12 billion. The stock’s 50 day moving average is $13.74 and its 200 day moving average is $11.56. Pandora Media has a 12 month low of $7.10 and a 12 month high of $22.20.
Pandora Media (NYSE:P) last issued its earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 earned $343 million during the quarter, compared to analysts’ expectations of $351.48 million. Analysts anticipate that Pandora Media will post ($0.39) earnings per share for the current fiscal year.
In other Pandora Media news, insider Christopher Douglas Martin sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $13.21, for a total transaction of $26,420.00. Following the sale, the insider now owns 342,896 shares in the company, valued at approximately $4,529,656.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher W. Phillips sold 12,274 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $12.15, for a total value of $149,129.10. Following the sale, the insider now owns 288,878 shares in the company, valued at approximately $3,509,867.70. The disclosure for this sale can be found here. 6.64% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Nomura Holdings Inc. bought a new stake in Pandora Media during the second quarter valued at about $169,000. Public Employees Retirement System of Ohio boosted its position 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 during the period. Freshford Capital Management LLC acquired a new position in Pandora Media during the second quarter valued at $6,163,000. Amalgamated Bank boosted its position 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 during the period. Finally, Legal & General Group Plc boosted its position 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 during the period.
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.
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