Pandora Media’s (P) “Buy” Rating Reiterated at Piper Jaffray Companies
Piper Jaffray Companies reiterated their buy rating on shares of Pandora Media, Inc. (NYSE:P) in a report published on Friday. The brokerage currently has a $9.00 price target on the Internet radio service’s stock.
A number of other research analysts have also recently weighed in on P. Needham & Company LLC reiterated a buy rating and set a $11.00 price objective on shares of Pandora Media in a research report on Thursday, July 6th. BMO Capital Markets reiterated a hold rating and set a $12.00 price objective on shares of Pandora Media in a research report on Sunday, July 16th. Wedbush reiterated a buy rating on shares of Pandora Media in a research report on Wednesday, July 26th. Royal Bank Of Canada cut their price objective on shares of Pandora Media from $15.00 to $10.00 and set a sector perform rating on the stock in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus reiterated a buy rating and set a $12.00 price objective (down previously from $14.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, twenty-five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Pandora Media presently has a consensus rating of Hold and an average price target of $11.24.
Shares of Pandora Media (NYSE:P) opened at $5.59 on Friday. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 1.58. Pandora Media has a 12 month low of $5.35 and a 12 month high of $14.10.
Pandora Media (NYSE:P) last released its quarterly 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. The company had revenue of $378.60 million for the quarter, compared to the consensus estimate of $380.54 million. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 74.78%. Pandora Media’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. research analysts forecast that Pandora Media will post -1.04 earnings per share for the current year.
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In other Pandora Media news, General Counsel Stephen G. Bene sold 6,538 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $55,049.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Gerbitz sold 30,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were 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 in the company, valued at approximately $2,798,962.38. The disclosure for this sale can be found here. Insiders sold a total of 67,366 shares of company stock worth $564,822 in the last three months. 2.59% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of P. Marshall Wace North America L.P. raised its holdings in shares of Pandora Media by 789.9% during the 2nd quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock worth $27,758,000 after acquiring an additional 2,737,635 shares during the period. First Trust Advisors LP raised its holdings in shares of Pandora Media by 51.9% during the 2nd quarter. First Trust Advisors LP now owns 7,183,485 shares of the Internet radio service’s stock worth $64,077,000 after acquiring an additional 2,454,296 shares during the period. Nordea Investment Management AB purchased a new position in shares of Pandora Media during the 2nd quarter worth $14,821,000. Locust Wood Capital Advisers LLC purchased a new stake in Pandora Media in the 2nd quarter valued at about $12,574,000. Finally, SLS Management LLC raised its holdings in Pandora Media by 200.5% in the 2nd quarter. SLS Management LLC now owns 2,090,156 shares of the Internet radio service’s stock valued at $18,644,000 after buying an additional 1,394,520 shares during the period.
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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