Pandora Media, Inc. (NYSE:P) was downgraded by equities research analysts at SunTrust Banks, Inc. from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other research firms also recently issued reports on P. Zacks Investment Research upgraded Pandora Media from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Stifel Nicolaus set a $12.00 target price on Pandora Media and gave the stock a “buy” rating in a research report on Tuesday. Piper Jaffray Companies set a $13.00 target price on Pandora Media and gave the stock a “buy” rating in a research report on Friday, October 6th. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Pandora Media in a research report on Thursday, September 14th. Finally, Barrington Research restated a “market perform” rating on shares of Pandora Media in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $11.45.

Pandora Media (NYSE:P) last announced its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The firm had revenue of $378.60 million for the quarter, compared to the consensus estimate of $380.54 million. During the same quarter in the previous year, the business earned ($0.07) EPS. The company’s revenue was up 7.6% compared to the same quarter last year.

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In related news, EVP David Gerbitz sold 9,959 shares of Pandora Media stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $83,854.78. Following the transaction, the executive vice president now owns 355,607 shares in the company, valued at approximately $2,994,210.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Stephen G. Bene sold 6,538 shares of Pandora Media stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $55,049.96. The disclosure for this sale can be found here. Insiders have sold a total of 67,366 shares of company stock worth $564,822 in the last quarter. Corporate insiders own 2.59% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado increased its holdings in Pandora Media by 0.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 49,301 shares of the Internet radio service’s stock valued at $440,000 after acquiring an additional 125 shares during the last quarter. Voya Investment Management LLC increased its holdings in Pandora Media by 0.9% in the 2nd quarter. Voya Investment Management LLC now owns 87,150 shares of the Internet radio service’s stock valued at $777,000 after acquiring an additional 740 shares during the last quarter. Utah Retirement Systems increased its holdings in Pandora Media by 3.0% in the 2nd quarter. Utah Retirement Systems now owns 41,286 shares of the Internet radio service’s stock valued at $368,000 after acquiring an additional 1,200 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Pandora Media by 6.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 18,906 shares of the Internet radio service’s stock valued at $169,000 after acquiring an additional 1,204 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in Pandora Media by 1.0% in the 2nd quarter. Stephens Inc. AR now owns 151,744 shares of the Internet radio service’s stock valued at $1,354,000 after acquiring an additional 1,496 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.

Analyst Recommendations for Pandora Media (NYSE:P)

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