Pandora Media (NYSE:P) had its price objective lowered by JPMorgan Chase from $8.00 to $7.00 in a research report released on Tuesday, MarketBeat.com reports. The brokerage currently has a neutral rating on the Internet radio service’s stock.
Several other brokerages also recently commented on P. Vetr downgraded shares of Pandora Media from a buy rating to a hold rating and set a $5.06 price objective for the company. in a research note on Monday, February 5th. Morgan Stanley cut shares of Pandora Media from an overweight rating to an equal weight rating and decreased their price target for the company from $12.00 to $6.00 in a research report on Monday, January 8th. B. Riley decreased their price target on shares of Pandora Media from $8.00 to $6.00 and set a neutral rating for the company in a research report on Thursday, February 22nd. Piper Jaffray set a $9.00 price target on shares of Pandora Media and gave the company a buy rating in a research report on Tuesday, December 12th. Finally, Zacks Investment Research upgraded shares of Pandora Media from a sell rating to a hold rating in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of Hold and an average target price of $9.04.
Shares of NYSE:P opened at $5.01 on Tuesday. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 1.79. Pandora Media has a one year low of $4.09 and a one year high of $11.17.
Pandora Media (NYSE:P) last issued its quarterly earnings data on Wednesday, February 21st. The Internet radio service reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.14). The company had revenue of $395.00 million during the quarter, compared to the consensus estimate of $376.79 million. Pandora Media had a negative net margin of 36.83% and a negative return on equity of 111.95%. Pandora Media’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.13) EPS. research analysts anticipate that Pandora Media will post -0.99 EPS for the current fiscal year.
In other Pandora Media news, CRO John Trimble sold 12,699 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $5.07, for a total value of $64,383.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Stephen G. Bene sold 11,260 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $5.07, for a total transaction of $57,088.20. The disclosure for this sale can be found here. Insiders sold 45,497 shares of company stock valued at $230,670 over the last 90 days. Corporate insiders own 2.59% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Ontario Teachers Pension Plan Board lifted its stake in shares of Pandora Media by 126.9% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 16,000,000 shares of the Internet radio service’s stock valued at $77,120,000 after buying an additional 8,947,201 shares in the last quarter. EastBay Asset Management LLC bought a new position in shares of Pandora Media in the fourth quarter valued at $29,127,000. First Trust Advisors LP lifted its stake in shares of Pandora Media by 55.8% in the fourth quarter. First Trust Advisors LP now owns 10,526,204 shares of the Internet radio service’s stock valued at $50,736,000 after buying an additional 3,768,553 shares in the last quarter. Hunt Lane Capital LP lifted its stake in shares of Pandora Media by 114.1% in the fourth quarter. Hunt Lane Capital LP now owns 6,850,000 shares of the Internet radio service’s stock valued at $33,017,000 after buying an additional 3,650,000 shares in the last quarter. Finally, Kopernik Global Investors LLC lifted its stake in shares of Pandora Media by 91.7% in the fourth quarter. Kopernik Global Investors LLC now owns 5,923,505 shares of the Internet radio service’s stock valued at $28,551,000 after buying an additional 2,834,219 shares in the last quarter.
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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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