Pandora Media Inc (NYSE:P)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a report released on Tuesday, May 9th. They presently have a $15.00 price target on the Internet radio service’s stock. Wedbush’s price target suggests a potential upside of 61.29% from the stock’s current price.
A number of other research analysts have also commented on P. B. Riley reissued a “buy” rating and set a $15.00 price target on shares of Pandora Media in a report on Tuesday, May 9th. FBR & Co raised their target price on Pandora Media from $12.00 to $14.00 and gave the company a “market perform” rating in a research note on Friday, January 13th. Aegis raised their target price on Pandora Media from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, January 13th. William Blair reaffirmed an “outperform” rating on shares of Pandora Media in a research note on Tuesday, May 9th. Finally, FBN Securities set a $15.00 target price on Pandora Media and gave the company a “buy” rating in a research note on Friday, January 13th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Pandora Media currently has an average rating of “Hold” and a consensus target price of $13.32.
Shares of Pandora Media (NYSE P) opened at 9.30 on Tuesday. Pandora Media has a 52-week low of $8.68 and a 52-week high of $14.98. The stock’s market capitalization is $2.24 billion. The company has a 50 day moving average of $10.02 and a 200 day moving average of $11.85.
Pandora Media (NYSE:P) last issued its quarterly earnings results on Monday, May 8th. The Internet radio service reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. The company had revenue of $316 million for the quarter, compared to analyst estimates of $318.15 million. Pandora Media had a negative return on equity of 104.31% and a negative net margin of 41.86%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned ($0.20) earnings per share. Analysts predict that Pandora Media will post ($0.52) EPS for the current fiscal year.
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In other Pandora Media news, EVP David Gerbitz sold 8,103 shares of Pandora Media stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $9.38, for a total value of $76,006.14. Following the transaction, the executive vice president now directly owns 255,943 shares of the company’s stock, valued at approximately $2,400,745.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher Douglas Martin sold 3,000 shares of Pandora Media stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $12.07, for a total value of $36,210.00. Following the completion of the transaction, the insider now directly owns 300,311 shares in the company, valued at $3,624,753.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,384 shares of company stock worth $735,303. Company insiders own 6.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of P. DIAM Co. Ltd. purchased a new stake in shares of Pandora Media during the third quarter valued at $133,000. Two Sigma Securities LLC purchased a new stake in shares of Pandora Media during the first quarter valued at $136,000. Bessemer Group Inc. raised its stake in shares of Pandora Media by 1.0% in the fourth quarter. Bessemer Group Inc. now owns 11,228 shares of the Internet radio service’s stock valued at $146,000 after buying an additional 110 shares during the last quarter. Waldron LP purchased a new stake in shares of Pandora Media during the first quarter valued at $167,000. Finally, National Asset Management Inc. purchased a new stake in shares of Pandora Media during the third quarter valued at $171,000.
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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