Pandora Media Inc (P) Receives $8.23 Average Price Target from Analysts

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Shares of Pandora Media Inc (NYSE:P) have been assigned a consensus rating of “Hold” from the thirty research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nineteen have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $8.23.

P has been the topic of a number of analyst reports. ValuEngine lowered Pandora Media from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Needham & Company LLC increased their price target on Pandora Media from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, September 12th. Credit Suisse Group increased their price target on Pandora Media from $7.00 to $10.80 and gave the company a “neutral” rating in a research report on Tuesday, September 25th. Wedbush set a $10.00 price target on Pandora Media and gave the company a “buy” rating in a research report on Thursday, July 26th. Finally, SunTrust Banks lowered Pandora Media from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th.

P stock opened at $9.04 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 2.76. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -7.29 and a beta of -0.64. Pandora Media has a 1 year low of $4.09 and a 1 year high of $10.07.

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

In other Pandora Media news, CRO John Trimble sold 100,577 shares of Pandora Media stock in a transaction that occurred on Thursday, August 16th. The stock was 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 the SEC website. Also, insider Karen Sammis Walker sold 16,528 shares of Pandora Media stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $8.11, for a total value of $134,042.08. Following the transaction, the insider now directly owns 701,007 shares in the company, valued at approximately $5,685,166.77. The disclosure for this sale can be found here. Insiders have sold a total of 180,890 shares of company stock worth $1,461,155 in the last three months. Corporate insiders own 0.43% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in P. Schwab Charles Investment Management Inc. increased its position in Pandora Media by 24.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 782,773 shares of the Internet radio service’s stock worth $3,938,000 after buying an additional 153,096 shares during the period. Aperio Group LLC increased its position in Pandora Media by 142.7% during the first quarter. Aperio Group LLC now owns 57,855 shares of the Internet radio service’s stock worth $291,000 after buying an additional 34,017 shares during the period. Northern Trust Corp increased its position in Pandora Media by 3.8% during the first quarter. Northern Trust Corp now owns 1,201,896 shares of the Internet radio service’s stock worth $6,044,000 after buying an additional 43,776 shares during the period. New York State Common Retirement Fund increased its position in Pandora Media by 2.2% during the first quarter. New York State Common Retirement Fund now owns 501,700 shares of the Internet radio service’s stock worth $2,524,000 after buying an additional 10,800 shares during the period. Finally, Stifel Financial Corp increased its position in Pandora Media by 151.5% during the first quarter. Stifel Financial Corp now owns 76,118 shares of the Internet radio service’s stock worth $384,000 after buying an additional 45,850 shares during the period.

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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