Stifel Nicolaus downgraded shares of Pandora Media, Inc. (NYSE:P) from a buy rating to a hold rating in a research note released on Friday. They currently have $8.00 price target on the Internet radio service’s stock, down from their previous price target of $12.00.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reissued a buy rating and issued a $11.00 price target on shares of Pandora Media in a report on Thursday, July 6th. Canaccord Genuity reissued a buy rating and issued a $14.00 price target (down previously from $15.00) on shares of Pandora Media in a report on Tuesday, August 1st. Citigroup Inc. reissued a buy rating and issued a $11.00 price target (down previously from $12.00) on shares of Pandora Media in a report on Tuesday, August 1st. Wedbush reissued a buy rating on shares of Pandora Media in a report on Tuesday, August 1st. Finally, FBR & Co reaffirmed a buy rating and set a $11.00 target price on shares of Pandora Media in a report on Tuesday, August 15th. Three equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Pandora Media currently has an average rating of Hold and an average target price of $11.24.

Shares of Pandora Media (NYSE P) traded down $1.81 during midday trading on Friday, reaching $5.59. 73,680,805 shares of the company traded hands, compared to its average volume of 5,954,956. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.65. Pandora Media has a 12 month low of $5.35 and a 12 month high of $14.10.

Pandora Media (NYSE:P) last issued its quarterly earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $378.60 million during the quarter, compared to analyst estimates of $380.54 million. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 63.80%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) EPS. equities research analysts expect that Pandora Media will post -1.04 earnings per share for the current year.

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In other Pandora Media news, insider Christopher W. Phillips sold 10,322 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total value of $86,911.24. Following the transaction, the insider now directly owns 423,872 shares in the company, valued at $3,569,002.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Gerbitz sold 9,959 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 355,607 shares in the company, valued at $2,994,210.94. The disclosure for this sale can be found here. Insiders sold 67,366 shares of company stock worth $564,822 over the last quarter. 2.59% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Falcon Point Capital LLC purchased a new position in Pandora Media in the second quarter valued at approximately $102,000. Prudential Financial Inc. purchased a new position in Pandora Media in the second quarter valued at approximately $109,000. Fox Run Management L.L.C. purchased a new position in Pandora Media in the third quarter valued at approximately $111,000. Symmetry Peak Management LLC purchased a new position in Pandora Media in the second quarter valued at approximately $112,000. Finally, Aperio Group LLC purchased a new position in Pandora Media in the second quarter valued at approximately $115,000.

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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