Pandora Media, Inc. (NYSE:P)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $4.67, but opened at $4.93. Pandora Media shares last traded at $5.15, with a volume of 10627868 shares trading hands.

Several equities research analysts have recently issued reports on P shares. MKM Partners reaffirmed a “neutral” rating and issued a $10.00 price objective on shares of Pandora Media in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Pandora Media from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. B. Riley lowered Pandora Media from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $11.00 to $8.00 in a research note on Friday, November 3rd. FBR & Co reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Pandora Media in a research note on Tuesday, August 15th. Finally, Stifel Nicolaus lowered Pandora Media from a “buy” rating to a “hold” rating and lowered their price objective for the company from $12.00 to $8.00 in a research note on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.24.

The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 1.58.

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 Zacks’ consensus estimate of ($0.08) by $0.02. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The company had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $380.54 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. research analysts predict that Pandora Media, Inc. will post -1.09 EPS for the current fiscal year.

In other news, EVP David Gerbitz sold 30,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was 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 of the company’s stock, valued at approximately $2,798,962.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.59% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Quinn Opportunity Partners LLC increased its stake in shares of Pandora Media by 17.9% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 559,262 shares of the Internet radio service’s stock valued at $4,989,000 after purchasing an additional 85,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Pandora Media by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 18,059,537 shares of the Internet radio service’s stock valued at $161,092,000 after purchasing an additional 829,682 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Pandora Media in the 2nd quarter valued at about $10,047,000. SG Americas Securities LLC purchased a new position in shares of Pandora Media in the 2nd quarter valued at about $3,141,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Pandora Media in the 1st quarter valued at about $446,000.

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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.

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