Zacks Investment Research upgraded shares of Pandora Media, Inc. (NYSE:P) from a sell rating to a hold rating in a research report report published on Thursday morning.
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. “
Several other brokerages have also commented on P. Piper Jaffray Companies reiterated a buy rating and set a $9.00 price objective on shares of Pandora Media in a research report on Friday, November 3rd. J P Morgan Chase & Co lowered Pandora Media from an overweight rating to a neutral rating and set a $9.00 price objective on the stock. in a research report on Friday, November 3rd. B. Riley lowered Pandora Media from a buy rating to a neutral rating and reduced their price objective for the company from $11.00 to $8.00 in a research report on Friday, November 3rd. SunTrust Banks, Inc. lowered Pandora Media from a buy rating to a hold rating in a research report on Friday, November 3rd. Finally, Stifel Nicolaus lowered Pandora Media from a buy rating to a hold rating and reduced their price objective for the company from $12.00 to $8.00 in a research report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $11.24.
Shares of Pandora Media (P) traded up $0.08 during midday trading on Thursday, reaching $4.57. The company’s stock had a trading volume of 18,586,200 shares, compared to its average volume of 9,894,197. The company has a debt-to-equity ratio of 1.58, a quick ratio of 4.18 and a current ratio of 4.18. Pandora Media has a fifty-two week low of $4.44 and a fifty-two week high of $14.10.
Pandora Media (NYSE:P) last announced 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. The business had revenue of $378.60 million for the quarter, compared to analyst estimates of $380.54 million. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) EPS. research analysts forecast that Pandora Media will post -1.09 EPS for the current fiscal year.
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In other Pandora Media news, CRO John Trimble sold 10,547 shares of Pandora Media stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $88,805.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Gerbitz sold 30,000 shares of Pandora Media stock in a transaction on Friday, September 1st. The stock was sold at an average price of $8.34, for a total value of $250,200.00. Following the completion of the sale, the executive vice president now directly owns 335,607 shares of the company’s stock, valued at approximately $2,798,962.38. The disclosure for this sale can be found here. In the last three months, insiders sold 67,366 shares of company stock valued at $564,822. Corporate insiders own 2.59% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of P. Falcon Point Capital LLC bought a new stake in shares of Pandora Media in the second quarter worth $102,000. Prudential Financial Inc. bought a new stake in shares of Pandora Media in the second quarter worth $109,000. Fox Run Management L.L.C. bought a new stake in shares of Pandora Media in the third quarter worth $111,000. Symmetry Peak Management LLC bought a new stake in shares of Pandora Media in the second quarter worth $112,000. Finally, Aperio Group LLC bought a new stake in shares of Pandora Media in the second quarter worth $115,000.
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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