Brokerages Set Pandora Media Inc (P) Target Price at $9.22

Shares of Pandora Media Inc (NYSE:P) have been assigned a consensus rating of “Hold” from the twenty-two research firms that are presently covering the firm, Marketbeat reports. Fifteen research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $9.22.

Separately, Zacks Investment Research upgraded Pandora Media from a “hold” rating to a “strong-buy” rating and set a $9.75 price target on the stock in a report on Friday, January 25th.

P stock remained flat at $$8.38 during midday trading on Friday. Pandora Media has a one year low of $4.17 and a one year high of $10.07. The company has a debt-to-equity ratio of 4.85, a quick ratio of 2.51 and a current ratio of 2.51. The firm has a market cap of $2.27 billion, a P/E ratio of -6.76 and a beta of 0.04.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Exane Asset Management purchased a new position in Pandora Media in the 4th quarter worth $81,000. Next Capital Management LLC acquired a new stake in Pandora Media in the 4th quarter worth about $81,000. Massey Quick Simon & CO. LLC boosted its holdings in Pandora Media by 41.0% in the 4th quarter. Massey Quick Simon & CO. LLC now owns 10,528 shares of the Internet radio service’s stock worth $85,000 after buying an additional 3,061 shares during the last quarter. Strs Ohio boosted its holdings in Pandora Media by 271.9% in the 4th quarter. Strs Ohio now owns 11,900 shares of the Internet radio service’s stock worth $96,000 after buying an additional 8,700 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Pandora Media during the 4th quarter worth approximately $100,000. 97.57% of the stock is currently owned by institutional investors and hedge funds.

About Pandora Media

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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