Zacks Investment Research Upgrades Pandora Media (P) to Hold

Pandora Media (NYSE:P) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, November 9th.

According to Zacks, “Pandora Media, Inc. operates as a provider of Internet radio in the United States. It provides services to traditional computers, smartphones, such as Android phones, Blackberry phones and the iPhone. When a listener enters a single song, artist, composer or genre to start a station, its mathematical algorithms combine the genes cataloged with individual and collective feedback to suggest songs and build personalized playlists. The Company also offers advertising solutions addressing advertising markets: online display, rich media and video, mobile and broadcast radio. Pandora Media, Inc., formerly known as Savage Beast Technologies Incorporated, is based in Oakland, California. “

P has been the subject of several other reports. MKM Partners reissued a “neutral” rating and issued a $10.00 price objective on shares of Pandora Media in a research report on Wednesday, August 2nd. B. Riley cut Pandora Media from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $11.00 to $8.00 in a research report on Friday, November 3rd. FBR & Co reaffirmed a “buy” rating and issued a $11.00 target price on shares of Pandora Media in a research report on Tuesday, August 15th. Stifel Nicolaus cut Pandora Media from a “buy” rating to a “hold” rating and reduced their target price for the stock from $12.00 to $8.00 in a research report on Friday, November 3rd. Finally, KeyCorp reissued a “hold” rating on shares of Pandora Media in a report on Thursday, September 7th. Three analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Pandora Media currently has an average rating of “Hold” and an average target price of $11.11.

Pandora Media (NYSE:P) opened at $5.22 on Thursday. Pandora Media has a twelve month low of $4.44 and a twelve month high of $14.10. The company has a debt-to-equity ratio of 1.58, a current ratio of 4.18 and a quick ratio of 4.18.

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

In other Pandora Media news, General Counsel Stephen G. Bene sold 7,967 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total transaction of $40,711.37. Following the transaction, the general counsel now owns 330,865 shares of the company’s stock, valued at approximately $1,690,720.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher W. Phillips sold 9,988 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total value of $51,038.68. Following the transaction, the insider now directly owns 413,884 shares in the company, valued at approximately $2,114,947.24. The disclosure for this sale can be found here. Insiders have sold a total of 67,682 shares of company stock worth $442,755 in the last quarter. 2.59% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Falcon Point Capital LLC acquired a new position in shares of Pandora Media during the 2nd quarter worth approximately $102,000. Prudential Financial Inc. acquired a new position in shares of Pandora Media during the 2nd quarter worth approximately $109,000. Symmetry Peak Management LLC acquired a new position in shares of Pandora Media during the 2nd quarter worth approximately $112,000. Aperio Group LLC acquired a new position in shares of Pandora Media during the 2nd quarter worth approximately $115,000. Finally, Virtu Financial LLC acquired a new position in shares of Pandora Media during the 2nd quarter worth approximately $121,000.

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Pandora Media Company Profile

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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