B. Riley downgraded shares of Pandora Media, Inc. (NYSE:P) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat reports. B. Riley currently has $8.00 price target on the Internet radio service’s stock, down from their previous price target of $11.00.

A number of other research firms have also issued reports on P. Credit Suisse Group restated a neutral rating and set a $8.95 price objective (up previously from $8.55) on shares of Pandora Media in a research report on Tuesday, August 1st. Wedbush restated a buy rating on shares of Pandora Media in a research report on Tuesday, August 1st. MKM Partners restated a neutral rating and set a $10.00 price objective on shares of Pandora Media in a research report on Wednesday, August 2nd. FBR & Co restated a buy rating and set a $11.00 price objective on shares of Pandora Media in a research report on Monday, September 25th. Finally, BMO Capital Markets restated a hold rating and set a $12.00 price objective on shares of Pandora Media in a research report on Sunday, July 16th. Three analysts have rated the stock with a sell rating, twenty-five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Pandora Media currently has an average rating of Hold and an average price target of $11.24.

Shares of Pandora Media (NYSE P) traded down $0.31 on Friday, hitting $5.28. The stock had a trading volume of 6,152,682 shares, compared to its average volume of 9,340,000. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 1.58. Pandora Media has a one year low of $5.16 and a one year high of $14.10.

Pandora Media (NYSE:P) last issued its 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 return on equity of 74.78% and a negative net margin of 39.49%. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) EPS. equities analysts expect that Pandora Media will post -1.04 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Pandora Media, Inc. (P) Downgraded to Neutral at B. Riley” was published by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://www.watchlistnews.com/pandora-media-inc-p-downgraded-to-neutral-at-b-riley/1685386.html.

In other Pandora Media news, insider Christopher W. Phillips sold 10,322 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $86,911.24. Following the transaction, the insider now owns 423,872 shares in the company, valued at $3,569,002.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Gerbitz sold 30,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $8.34, for a total value of $250,200.00. Following the completion of the transaction, the executive vice president now owns 335,607 shares in the company, valued at approximately $2,798,962.38. The disclosure for this sale can be found here. Insiders sold 67,366 shares of company stock worth $564,822 in the last 90 days. Corporate insiders own 2.59% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement Association of Colorado lifted its position in shares of Pandora Media by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 49,301 shares of the Internet radio service’s stock worth $440,000 after buying an additional 125 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Pandora Media by 0.9% in the second quarter. Voya Investment Management LLC now owns 87,150 shares of the Internet radio service’s stock worth $777,000 after buying an additional 740 shares during the last quarter. Utah Retirement Systems lifted its position in shares of Pandora Media by 3.0% in the second quarter. Utah Retirement Systems now owns 41,286 shares of the Internet radio service’s stock worth $368,000 after buying an additional 1,200 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Pandora Media by 6.8% in the second quarter. Teacher Retirement System of Texas now owns 18,906 shares of the Internet radio service’s stock worth $169,000 after buying an additional 1,204 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Pandora Media by 1.0% in the second quarter. Stephens Inc. AR now owns 151,744 shares of the Internet radio service’s stock worth $1,354,000 after buying an additional 1,496 shares during the last quarter.

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.

Analyst Recommendations for Pandora Media (NYSE:P)

Receive News & Ratings for Pandora Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.