Pandora Media (NYSE:P) had its price objective hoisted by Needham & Company LLC from $8.00 to $13.00 in a report released on Wednesday morning, MarketBeat reports. The brokerage currently has a buy rating on the Internet radio service’s stock.

Several other equities research analysts also recently commented on the stock. ValuEngine raised shares of Pandora Media from a hold rating to a buy rating in a report on Tuesday, September 4th. Zacks Investment Research upgraded Pandora Media from a hold rating to a buy rating and set a $9.25 price target on the stock in a research report on Saturday, August 4th. Wedbush set a $10.00 price target on Pandora Media and gave the company a buy rating in a research report on Wednesday, August 1st. Canaccord Genuity set a $10.00 price target on Pandora Media and gave the company a buy rating in a research report on Wednesday, August 1st. Finally, Susquehanna Bancshares upped their price target on Pandora Media from $7.00 to $8.00 and gave the company a neutral rating in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $7.93.

NYSE P opened at $9.57 on Wednesday. Pandora Media has a 52 week low of $4.09 and a 52 week high of $10.07. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 2.76.

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

In related news, General Counsel Stephen G. Bene sold 27,208 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $8.16, for a total value of $222,017.28. Following the transaction, the general counsel now directly owns 577,033 shares in the company, valued at $4,708,589.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Karen Sammis Walker sold 16,528 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $8.11, for a total transaction of $134,042.08. Following the completion of the transaction, the insider now owns 701,007 shares in the company, valued at $5,685,166.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,890 shares of company stock worth $1,461,155. 2.59% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC grew its position in Pandora Media by 15.8% during the second quarter. Brighton Jones LLC now owns 46,740 shares of the Internet radio service’s stock valued at $368,000 after acquiring an additional 6,383 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Pandora Media by 16.6% during the first quarter. Cubist Systematic Strategies LLC now owns 56,070 shares of the Internet radio service’s stock valued at $282,000 after acquiring an additional 7,966 shares during the last quarter. New York State Common Retirement Fund grew its position in Pandora Media by 2.2% during the first quarter. New York State Common Retirement Fund now owns 501,700 shares of the Internet radio service’s stock valued at $2,524,000 after acquiring an additional 10,800 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in Pandora Media by 41.0% during the first quarter. Xact Kapitalforvaltning AB now owns 40,252 shares of the Internet radio service’s stock valued at $202,000 after acquiring an additional 11,700 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in Pandora Media by 14.2% during the second quarter. Voya Investment Management LLC now owns 99,925 shares of the Internet radio service’s stock valued at $787,000 after acquiring an additional 12,463 shares during the last quarter.

Pandora Media Company Profile

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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