Pandora Media Inc (P) Receives Consensus Rating of “Buy” from Brokerages

Shares of Pandora Media Inc (NYSE:P) have earned an average recommendation of “Buy” from the twenty-nine analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $7.93.

A number of research firms have recently commented on P. Needham & Company LLC upped their price objective on Pandora Media from $8.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, September 12th. ValuEngine upgraded Pandora Media from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Zacks Investment Research upgraded Pandora Media from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Barrington Research upgraded Pandora Media from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 1st. Finally, B. Riley increased their price target on Pandora Media from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 1st.

P traded down $0.03 during trading on Friday, hitting $9.39. The company’s stock had a trading volume of 5,034,681 shares, compared to its average volume of 9,233,231. The company has a debt-to-equity ratio of 2.76, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market capitalization of $2.56 billion, a PE ratio of -7.64 and a beta of -0.47. Pandora Media has a twelve month low of $4.09 and a twelve month high of $10.07.

Pandora Media (NYSE:P) last issued its quarterly earnings results on Tuesday, July 31st. The Internet radio service reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.12. The company had revenue of $384.79 million during the quarter, compared to the consensus estimate of $373.61 million. Pandora Media had a negative return on equity of 243.61% and a negative net margin of 24.14%. equities research analysts forecast that Pandora Media will post -0.95 earnings per share for the current fiscal year.

In related news, CRO John Trimble sold 100,577 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $8.02, for a total transaction of $806,627.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO David Gerbitz sold 36,577 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $8.16, for a total transaction of $298,468.32. Following the transaction, the chief operating officer now owns 574,617 shares in the company, valued at approximately $4,688,874.72. The disclosure for this sale can be found here. Insiders sold 180,890 shares of company stock worth $1,461,155 in the last 90 days. 2.59% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of P. Northern Trust Corp boosted its holdings in Pandora Media by 153.2% during the second quarter. Northern Trust Corp now owns 3,042,886 shares of the Internet radio service’s stock worth $23,977,000 after buying an additional 1,840,990 shares in the last quarter. Castleark Management LLC bought a new stake in Pandora Media during the second quarter worth approximately $5,103,000. Millennium Management LLC boosted its holdings in Pandora Media by 235.0% during the second quarter. Millennium Management LLC now owns 4,025,761 shares of the Internet radio service’s stock worth $31,723,000 after buying an additional 2,824,028 shares in the last quarter. Soros Fund Management LLC boosted its holdings in Pandora Media by 42.5% during the second quarter. Soros Fund Management LLC now owns 7,123,275 shares of the Internet radio service’s stock worth $56,131,000 after buying an additional 2,123,275 shares in the last quarter. Finally, Waddell & Reed Financial Inc. boosted its holdings in Pandora Media by 1.6% during the second quarter. Waddell & Reed Financial Inc. now owns 12,937,073 shares of the Internet radio service’s stock worth $101,944,000 after buying an additional 205,294 shares in the last quarter.

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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