FBR & Co reaffirmed their outperform rating on shares of Pandora Media Inc. (NYSE:P) in a research note issued to investors on Friday morning. FBR & Co currently has a $16.00 price target on the Internet radio service’s stock.

Analyst Recommendations for Pandora Media (NYSE:P)

Several other brokerages have also issued reports on P. B. Riley raised shares of Pandora Media from a neutral rating to a buy rating and lifted their price target for the company from $10.00 to $15.00 in a report on Monday, May 23rd. Vetr lowered shares of Pandora Media from a hold rating to a sell rating and set a $10.74 price target on the stock. in a report on Thursday, May 26th. Citigroup Inc. reaffirmed a buy rating and set a $16.00 price target on shares of Pandora Media in a report on Wednesday, June 8th. Axiom Securities raised shares of Pandora Media from a hold rating to a buy rating and set a $16.00 price target on the stock in a report on Thursday, June 9th. Finally, Albert Fried & Company reaffirmed a buy rating on shares of Pandora Media in a report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $16.08.

Shares of Pandora Media (NYSE:P) opened at 13.68 on Friday. The firm has a 50-day moving average of $13.76 and a 200 day moving average of $11.59. Pandora Media has a 12-month low of $7.10 and a 12-month high of $22.20. The firm’s market capitalization is $3.16 billion.

Pandora Media (NYSE:P) last released its earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) EPS for the quarter, beating the 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 had revenue of $343 million for the quarter, compared to analyst estimates of $351.48 million. On average, equities research analysts expect that Pandora Media will post ($0.39) earnings per share for the current year.

In related news, insider Christopher W. Phillips sold 12,274 shares of the stock in a transaction dated 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 transaction, the insider now owns 288,878 shares in the company, valued at $3,509,867.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Christopher Douglas Martin sold 2,000 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $13.37, for a total transaction of $26,740.00. Following the transaction, the insider now 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.

Institutional investors have recently bought and sold shares of the stock. US Bancorp DE raised its position in Pandora Media by 0.8% in the second quarter. US Bancorp DE now owns 17,597 shares of the Internet radio service’s stock valued at $219,000 after buying an additional 135 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in Pandora Media by 0.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 49,262 shares of the Internet radio service’s stock valued at $613,000 after buying an additional 277 shares during the last quarter. Legal & General Group Plc raised 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 last quarter. IBM Retirement Fund raised its position in Pandora Media by 5.0% in the second quarter. IBM Retirement Fund now owns 22,227 shares of the Internet radio service’s stock valued at $277,000 after buying an additional 1,062 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Pandora Media by 10.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,343 shares of the Internet radio service’s stock valued at $191,000 after buying an additional 1,464 shares during the last quarter.

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.

5 Day Chart for NYSE:P

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