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.

Analyst Recommendations for Pandora Media (NYSE:P)

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.

“Pandora Media’s (P) Outperform Rating Reaffirmed at Wedbush” was originally published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States & international copyright legislation. The legal version of this article can be viewed at https://www.chaffeybreeze.com/2017/03/14/pandora-medias-p-outperform-rating-reaffirmed-at-wedbush.html.

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.

The article first appeared in chaffeybreeze.com