P Stock: Wedbush reiterated their outperform rating on shares of Pandora Media Inc (NYSE:P) in a research report report published on Monday. They currently have a $15.00 price target on the Internet radio service’s stock.
Other equities analysts have also recently issued reports about the company. Vetr cut Pandora Media from a strong-buy rating to a buy rating and set a $12.52 price target for the company. in a report on Monday, November 21st. MKM Partners lowered their price target on Pandora Media from $13.00 to $12.00 and set a neutral rating for the company in a report on Wednesday, November 23rd. Aegis began coverage on Pandora Media in a report on Tuesday, December 6th. They set a buy rating and a $16.00 price target for the company. Oppenheimer Holdings Inc. upgraded Pandora Media from a market perform rating to an outperform rating and increased their price target for the stock from $13.85 to $18.00 in a report on Tuesday, December 6th. Finally, Wells Fargo & Co reiterated an outperform rating and set a $13.00 price target on shares of Pandora Media in a report on Wednesday, December 7th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Pandora Media currently has a consensus rating of Buy and an average price target of $14.63.
Pandora Media (NYSE:P) opened at 11.94 on Monday. The stock’s market cap is $2.81 billion. Pandora Media has a 1-year low of $8.05 and a 1-year high of $14.98. The firm has a 50-day moving average price of $12.89 and a 200 day moving average price of $12.85.
Pandora Media (NYSE:P) last issued its earnings results on Thursday, February 9th. The Internet radio service reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.08. The company earned $392.60 million during the quarter, compared to analysts’ expectations of $374.24 million. Pandora Media had a negative return on equity of 40.86% and a negative net margin of 24.77%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS. On average, equities research analysts anticipate that Pandora Media will post ($0.43) EPS for the current fiscal year.
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In other news, insider Christopher Douglas Martin sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $13.06, for a total value of $39,180.00. Following the completion of the sale, the insider now owns 303,311 shares of the company’s stock, valued at $3,961,241.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Gerbitz sold 35,000 shares of the company’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $13.08, for a total value of $457,800.00. Following the completion of the sale, the executive vice president now directly owns 250,626 shares of the company’s stock, valued at approximately $3,278,188.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,221 shares of company stock valued at $914,484. 6.64% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of P. DIAM Co. Ltd. acquired a new position in Pandora Media during the third quarter valued at approximately $133,000. Bessemer Group Inc. boosted its position in Pandora Media by 1.0% in the fourth quarter. Bessemer Group Inc. now owns 11,228 shares of the Internet radio service’s stock valued at $146,000 after buying an additional 110 shares during the period. National Asset Management Inc. acquired a new position in Pandora Media during the third quarter valued at approximately $171,000. Franklin Resources Inc. boosted its position in Pandora Media by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 13,315 shares of the Internet radio service’s stock valued at $174,000 after buying an additional 1,190 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in Pandora Media during the third quarter valued at approximately $176,000.
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