Pandora Media (P) Downgraded by Morgan Stanley to “Equal Weight”

Pandora Media (NYSE:P) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Monday, January 8th, Marketbeat.com reports. They currently have a $6.00 price objective on the Internet radio service’s stock, down from their prior price objective of $12.00. Morgan Stanley’s target price suggests a potential upside of 30.72% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Pandora Media from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. SunTrust Banks set a $7.00 target price on shares of Pandora Media and gave the stock a “hold” rating in a research note on Tuesday, January 2nd. Raymond James Financial restated a “hold” rating on shares of Pandora Media in a research note on Thursday, December 14th. Piper Jaffray Companies set a $9.00 target price on shares of Pandora Media and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Evercore ISI began coverage on shares of Pandora Media in a research note on Tuesday, December 5th. They issued an “in-line” rating and a $5.50 target price on the stock. Four equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Pandora Media presently has an average rating of “Hold” and an average price target of $10.45.

Shares of Pandora Media (NYSE P) opened at $4.59 on Monday. Pandora Media has a fifty-two week low of $4.44 and a fifty-two week high of $13.72. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 1.58. The firm has a market cap of $1,141.91, a PE ratio of -1.85 and a beta of -0.25.

Pandora Media (NYSE:P) last posted its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 74.78%. The firm had revenue of $378.60 million for the quarter, compared to the consensus estimate of $380.54 million. During the same period in the previous year, the firm posted ($0.07) EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. research analysts anticipate that Pandora Media will post -1.09 earnings per share for the current year.

In other news, CEO Roger Lynch sold 78,707 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $4.77, for a total value of $375,432.39. Following the sale, the chief executive officer now owns 701,607 shares in the company, valued at $3,346,665.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO John Trimble sold 10,204 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $5.11, for a total transaction of $52,142.44. Following the sale, the executive now owns 454,645 shares in the company, valued at approximately $2,323,235.95. The disclosure for this sale can be found here. Insiders sold 116,389 shares of company stock worth $567,987 in the last quarter. Company insiders own 2.59% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. purchased a new position in Pandora Media during the second quarter valued at $109,000. Fox Run Management L.L.C. purchased a new position in Pandora Media during the third quarter valued at $111,000. Symmetry Peak Management LLC purchased a new position in Pandora Media during the second quarter valued at $112,000. Bourgeon Capital Management LLC purchased a new position in Pandora Media during the third quarter valued at $115,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Pandora Media by 49.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,015 shares of the Internet radio service’s stock valued at $134,000 after purchasing an additional 5,000 shares in the last quarter.

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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.

Analyst Recommendations for Pandora Media (NYSE:P)

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