Canaccord Genuity set a $11.00 target price on Pandora Media (NYSE:P) in a research report report published on Sunday morning. The brokerage currently has a buy rating on the Internet radio service’s stock.

Several other brokerages have also recently weighed in on P. ValuEngine cut Pandora Media from a hold rating to a sell rating in a research note on Tuesday, July 10th. Wedbush set a $10.00 price target on Pandora Media and gave the stock a buy rating in a research note on Wednesday, August 1st. Royal Bank of Canada raised Pandora Media from a sector perform rating to an outperform rating in a research note on Wednesday, August 1st. Needham & Company LLC upped their price target on Pandora Media from $8.00 to $13.00 and gave the stock a buy rating in a research note on Wednesday, September 12th. Finally, Zacks Investment Research raised Pandora Media from a hold rating to a buy rating and set a $9.25 price target on the stock in a research note on Saturday, August 4th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Pandora Media presently has a consensus rating of Hold and an average price target of $8.37.

P opened at $9.28 on Friday. 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 has a 52-week low of $4.09 and a 52-week high of $10.07. The company has a market cap of $2.39 billion, a PE ratio of -7.33 and a beta of -0.47.

Pandora Media (NYSE:P) last posted its earnings results on Tuesday, July 31st. The Internet radio service reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $373.61 million. equities analysts anticipate that Pandora Media will post -0.95 EPS for the current year.

In other news, CRO John Trimble sold 100,577 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $8.02, for a total transaction of $806,627.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO David Gerbitz sold 36,577 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $8.16, for a total value of $298,468.32. Following the transaction, the chief operating officer now directly owns 574,617 shares in the company, valued at $4,688,874.72. The disclosure for this sale can be found here. Insiders sold 180,890 shares of company stock worth $1,461,155 over the last three months. Corporate insiders own 0.43% of the company’s stock.

Several large investors have recently made changes to their positions in P. FNY Investment Advisers LLC bought a new position in shares of Pandora Media during the second quarter valued at $118,000. Delpha Capital Management LLC bought a new position in shares of Pandora Media during the first quarter valued at $160,000. Xact Kapitalforvaltning AB lifted its holdings in shares of 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 purchasing an additional 11,700 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Pandora Media during the second quarter valued at $212,000. Finally, Allen Investment Management LLC bought a new position in shares of Pandora Media during the first quarter valued at $242,000.

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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