BMO Capital Markets upgraded shares of Pandora Media, Inc. (NYSE:P) from a market perform rating to an outperform rating in a report issued on Thursday. BMO Capital Markets currently has $7.00 price objective on the Internet radio service’s stock, down from their previous price objective of $11.00.
Other equities analysts also recently issued reports about the stock. J P Morgan Chase & Co downgraded shares of Pandora Media from an overweight rating to a neutral rating and set a $9.00 price objective on the stock. in a report on Friday, November 3rd. Zacks Investment Research raised shares of Pandora Media from a sell rating to a hold rating in a report on Wednesday, October 18th. Stifel Nicolaus set a $12.00 price objective on shares of Pandora Media and gave the stock a buy rating in a report on Tuesday, October 31st. Piper Jaffray Companies set a $13.00 price objective on shares of Pandora Media and gave the stock a buy rating in a report on Friday, October 6th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $11.00 price objective on shares of Pandora Media in a report on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, twenty-four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $11.11.
Pandora Media (NYSE P) traded down $0.01 during midday trading on Thursday, reaching $5.14. 6,334,597 shares of the company traded hands, compared to its average volume of 9,873,286. Pandora Media has a twelve month low of $4.44 and a twelve month high of $14.10. The company has a debt-to-equity ratio of 1.58, a current ratio of 4.18 and a quick ratio of 4.18.
Pandora Media (NYSE:P) last posted its quarterly earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 74.78%. The business had revenue of $378.60 million during the quarter, compared to the consensus estimate of $380.54 million. During the same quarter last year, the firm posted ($0.07) EPS. Pandora Media’s revenue was up 7.6% compared to the same quarter last year. sell-side analysts expect that Pandora Media will post -1.09 earnings per share for the current year.
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In other Pandora Media news, EVP David Gerbitz sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $8.34, for a total value of $250,200.00. Following the completion of the sale, the executive vice president now owns 335,607 shares of the company’s stock, valued at $2,798,962.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.59% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of P. Principal Financial Group Inc. purchased a new stake in Pandora Media in the first quarter worth approximately $446,000. Legal & General Group Plc boosted its stake in shares of Pandora Media by 145.8% during the first quarter. Legal & General Group Plc now owns 70,118 shares of the Internet radio service’s stock valued at $828,000 after purchasing an additional 41,597 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Pandora Media by 9.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 863,101 shares of the Internet radio service’s stock valued at $10,194,000 after purchasing an additional 72,559 shares during the period. State Street Corp boosted its stake in shares of Pandora Media by 3.9% during the first quarter. State Street Corp now owns 2,949,923 shares of the Internet radio service’s stock valued at $34,844,000 after purchasing an additional 110,826 shares during the period. Finally, Aperio Group LLC purchased a new stake in shares of Pandora Media during the second quarter valued at approximately $115,000.
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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