Aegis downgraded shares of Pandora Media (NYSE:P) from a buy rating to a hold rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. Aegis currently has $8.75 target price on the Internet radio service’s stock.

P has been the topic of a number of other research reports. ValuEngine lowered Pandora Media from a hold rating to a sell rating in a research report on Tuesday, July 10th. Wedbush set a $10.00 target price on Pandora Media and gave the company a buy rating in a research report on Wednesday, August 1st. Royal Bank of Canada upgraded Pandora Media from a sector perform rating to an outperform rating in a research report on Wednesday, August 1st. Needham & Company LLC increased their target price on Pandora Media from $8.00 to $13.00 and gave the company a buy rating in a research report on Wednesday, September 12th. Finally, Zacks Investment Research upgraded Pandora Media from a hold rating to a buy rating and set a $9.25 target price on the stock in a research report on Saturday, August 4th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $8.37.

Shares of NYSE:P opened at $9.28 on Monday. Pandora Media has a 1 year low of $4.09 and a 1 year high of $10.07. The company has a market cap of $2.40 billion, a PE ratio of -7.48 and a beta of -0.47. The company has a debt-to-equity ratio of 2.76, a quick ratio of 2.73 and a current ratio of 2.73.

Pandora Media (NYSE:P) last announced its earnings results on Tuesday, July 31st. The Internet radio service reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.12. Pandora Media had a negative return on equity of 243.61% and a negative net margin of 24.14%. The firm had revenue of $384.79 million for the quarter, compared to analyst estimates of $373.61 million. sell-side analysts expect that Pandora Media will post -0.95 EPS for the current fiscal year.

In other news, COO David Gerbitz sold 36,577 shares of Pandora Media stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $8.16, for a total transaction of $298,468.32. Following the transaction, the chief operating officer now owns 574,617 shares in the company, valued at approximately $4,688,874.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Karen Sammis Walker sold 16,528 shares of Pandora Media stock in a transaction on Friday, August 17th. The stock was sold at an average price of $8.11, for a total value of $134,042.08. Following the transaction, the insider now owns 701,007 shares in the company, valued at approximately $5,685,166.77. The disclosure for this sale can be found here. Insiders sold a total of 180,890 shares of company stock worth $1,461,155 in the last 90 days. 2.59% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of P. Swiss National Bank raised its holdings in shares of Pandora Media by 5.4% during the 1st quarter. Swiss National Bank now owns 423,600 shares of the Internet radio service’s stock worth $2,131,000 after acquiring an additional 21,700 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Pandora Media by 24.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 782,773 shares of the Internet radio service’s stock worth $3,938,000 after acquiring an additional 153,096 shares during the period. Aperio Group LLC raised its holdings in shares of Pandora Media by 142.7% during the 1st quarter. Aperio Group LLC now owns 57,855 shares of the Internet radio service’s stock worth $291,000 after acquiring an additional 34,017 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Pandora Media by 43.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 87,659 shares of the Internet radio service’s stock worth $441,000 after acquiring an additional 26,600 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Pandora Media by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,201,896 shares of the Internet radio service’s stock worth $6,044,000 after acquiring an additional 43,776 shares during the period.

About Pandora Media

Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora?Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.

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Analyst Recommendations for Pandora Media (NYSE:P)

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