P has been the subject of a number of other reports. Aegis boosted their price target on Pandora Media from $16.00 to $17.00 and gave the company a buy rating in a research note on Friday, January 13th. B. Riley restated a buy rating and set a $17.00 price target on shares of Pandora Media in a research note on Wednesday, January 18th. Citigroup Inc. restated a buy rating and set a $16.00 price target on shares of Pandora Media in a research note on Saturday, January 14th. Goldman Sachs Group, Inc. (The) restated a conviction-buy rating and set a $18.00 price target on shares of Pandora Media in a research note on Saturday, January 14th. Finally, RBC Capital Markets restated a sector perform rating and set a $14.00 price target (up from $13.00) on shares of Pandora Media in a research note on Thursday, October 27th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $14.59.
Vetr upgraded shares of Pandora Media, Inc. (NYSE:P) from a hold rating to a buy rating in a research report sent to investors on Monday. They currently have $13.38 price objective on the Internet radio service’s stock.
Shares of Pandora Media (NYSE:P) opened at 12.85 on Monday. The company’s 50 day moving average is $12.91 and its 200 day moving average is $12.96. The company’s market cap is $3.01 billion. Pandora Media has a one year low of $7.10 and a one year high of $14.98.
Pandora Media (NYSE:P) last issued its earnings results on Thursday, February 9th. The Internet radio service reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.08. Pandora Media had a negative return on equity of 40.86% and a negative net margin of 24.77%. The business earned $392.60 million during the quarter, compared to analyst estimates of $374.24 million. During the same quarter in the previous year, the firm earned $0.06 EPS. Pandora Media’s revenue was up 16.8% on a year-over-year basis. On average, equities analysts predict that Pandora Media will post ($0.40) earnings per share for the current year.
In other Pandora Media news, insider Christopher Douglas Martin sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $13.02, for a total value of $26,040.00. Following the sale, the insider now directly owns 326,668 shares of the company’s stock, valued at $4,253,217.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 6,000 shares of company stock worth $70,780. 6.64% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Matrix Capital Management Company LP purchased a new stake in shares of Pandora Media during the third quarter worth about $325,962,000. Omega Advisors Inc. purchased a new stake in shares of Pandora Media during the third quarter worth about $39,019,000. Tiger Management L.L.C. purchased a new stake in shares of Pandora Media during the second quarter worth about $18,191,000. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in shares of Pandora Media during the third quarter worth about $18,979,000. Finally, First Trust Advisors LP raised its stake in shares of Pandora Media by 29.5% in the third quarter. First Trust Advisors LP now owns 4,500,683 shares of the Internet radio service’s stock worth $64,495,000 after buying an additional 1,025,730 shares in the last quarter.
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.
To view Vetr’s full report, visit Vetr’s official website.