Pandora Media (NYSE:P) Downgraded by Morgan Stanley to Equal Weight

Pandora Media (NYSE:P) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, January 8th, MarketBeat.com reports. They currently have a $6.00 target price on the Internet radio service’s stock, down from their previous target price of $12.00. Morgan Stanley’s target price points to a potential upside of 31.87% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Pandora Media in a report on Thursday, September 14th. ValuEngine downgraded Pandora Media from a “sell” rating to a “strong sell” rating in a report on Friday, September 22nd. FBR & Co reiterated a “buy” rating and issued a $11.00 price target on shares of Pandora Media in a report on Monday, September 25th. Zacks Investment Research downgraded Pandora Media from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Finally, Piper Jaffray Companies set a $13.00 price target on Pandora Media and gave the company a “buy” rating in a report on Friday, October 6th. Four investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.45.

Pandora Media (NYSE P) traded up $0.01 during trading hours on Monday, hitting $4.55. The stock had a trading volume of 4,930,600 shares, compared to its average volume of 8,055,854. The company has a market cap of $1,120.00, a price-to-earnings ratio of -1.83 and a beta of -0.25. Pandora Media has a 1-year low of $4.44 and a 1-year high of $13.72. 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 issued its quarterly earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The firm had revenue of $378.60 million for the quarter, compared to the consensus estimate of $380.54 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. analysts expect that Pandora Media will post -1.09 earnings per share for the current year.

In other Pandora Media news, EVP David Gerbitz sold 9,523 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total transaction of $48,662.53. Following the completion of the sale, the executive vice president now directly owns 316,084 shares in the company, valued at approximately $1,615,189.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Stephen G. Bene sold 7,967 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total value of $40,711.37. Following the transaction, the general counsel now owns 330,865 shares in the company, valued at $1,690,720.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,389 shares of company stock valued at $567,987. 2.59% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Prudential Financial Inc. acquired a new position in Pandora Media in the second quarter valued at approximately $109,000. Symmetry Peak Management LLC acquired a new position in Pandora Media during the second quarter worth $112,000. Fox Run Management L.L.C. acquired a new position in Pandora Media during the third quarter worth $111,000. Bourgeon Capital Management LLC acquired a new position in Pandora Media during the third quarter worth $115,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Pandora Media by 49.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,015 shares of the Internet radio service’s stock worth $134,000 after purchasing an additional 5,000 shares in the last quarter.

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Pandora Media Company Profile

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.

Analyst Recommendations for Pandora Media (NYSE:P)

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