Pandora Media, Inc. (NYSE:P) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Pandora Media, Inc. operates as a provider of Internet radio in the United States. It provides services to traditional computers, smartphones, such as Android phones, Blackberry phones and the iPhone. When a listener enters a single song, artist, composer or genre to start a station, its mathematical algorithms combine the genes cataloged with individual and collective feedback to suggest songs and build personalized playlists. The Company also offers advertising solutions addressing advertising markets: online display, rich media and video, mobile and broadcast radio. Pandora Media, Inc., formerly known as Savage Beast Technologies Incorporated, is based in Oakland, California. “

P has been the subject of several other reports. Stifel Nicolaus set a $12.00 target price on Pandora Media and gave the stock a “buy” rating in a research note on Tuesday. FBR & Co reiterated a “buy” rating and set a $11.00 target price on shares of Pandora Media in a research note on Tuesday. Canaccord Genuity reiterated a “buy” rating and set a $14.00 target price on shares of Pandora Media in a research note on Monday. Wedbush set a $15.00 target price on Pandora Media and gave the stock a “buy” rating in a research note on Monday. Finally, Piper Jaffray Companies set a $13.00 target price on Pandora Media and gave the stock a “buy” rating in a research note on Friday, October 6th. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.81.

Pandora Media (NYSE:P) last announced its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $378.60 million for the quarter, compared to analyst estimates of $380.54 million. During the same quarter last year, the firm earned ($0.07) EPS. Pandora Media’s revenue for the quarter was up 7.6% compared to the same quarter last year.

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In related news, CRO John Trimble sold 10,547 shares of Pandora Media stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $88,805.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Gerbitz sold 30,000 shares of the firm’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 sale, 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 valued at $564,822 over the last ninety days. Corporate insiders own 2.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in P. UBS Asset Management Americas Inc. raised its position in Pandora Media by 23.4% during the first quarter. UBS Asset Management Americas Inc. now owns 155,637 shares of the Internet radio service’s stock valued at $1,838,000 after purchasing an additional 29,487 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Pandora Media by 4.6% in the first quarter. Parametric Portfolio Associates LLC now owns 183,961 shares of the Internet radio service’s stock worth $2,173,000 after buying an additional 8,143 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Pandora Media in the first quarter worth about $446,000. FMR LLC increased its holdings in shares of Pandora Media by 80.5% in the first quarter. FMR LLC now owns 2,105,894 shares of the Internet radio service’s stock worth $24,871,000 after buying an additional 939,500 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Pandora Media by 145.8% in the first quarter. Legal & General Group Plc now owns 70,118 shares of the Internet radio service’s stock worth $828,000 after buying an additional 41,597 shares during the period.

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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