BMO Capital Markets upgraded shares of Pandora Media, Inc. (NYSE:P) from a market perform rating to an outperform rating in a research note published on Thursday morning, Marketbeat reports. BMO Capital Markets currently has $7.00 price objective on the Internet radio service’s stock, down from their previous price objective of $11.00.
Other equities analysts have also issued research reports about the company. Canaccord Genuity reaffirmed a buy rating and issued a $14.00 price target (down previously from $15.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Wells Fargo & Company reaffirmed a hold rating on shares of Pandora Media in a research report on Tuesday, August 15th. MKM Partners reaffirmed a neutral rating and issued a $10.00 price target on shares of Pandora Media in a research report on Wednesday, August 2nd. Barrington Research reaffirmed a market perform rating on shares of Pandora Media in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $12.00 price target (down previously from $14.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, twenty-four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Pandora Media has a consensus rating of Hold and a consensus target price of $11.11.
Pandora Media (NYSE:P) opened at $5.14 on Thursday. 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 has a 52-week low of $4.44 and a 52-week high of $14.10.
Pandora Media (NYSE:P) last announced its quarterly earnings data on Thursday, November 2nd. The Internet radio service reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $378.60 million during 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 revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) earnings per share. sell-side analysts anticipate that Pandora Media will post -1.09 earnings per share for the current fiscal year.
In related news, EVP David Gerbitz sold 30,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $8.34, for a total transaction of $250,200.00. Following the sale, the executive vice president now owns 335,607 shares in the company, valued at approximately $2,798,962.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.59% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in Pandora Media by 1,179.5% in the 3rd quarter. SG Americas Securities LLC now owns 4,505,951 shares of the Internet radio service’s stock valued at $34,696,000 after acquiring an additional 4,153,778 shares during the last quarter. Marshall Wace North America L.P. grew its position in Pandora Media by 789.9% in the 2nd quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock valued at $27,758,000 after acquiring an additional 2,737,635 shares during the last quarter. First Trust Advisors LP grew its position in Pandora Media by 51.9% in the 2nd quarter. First Trust Advisors LP now owns 7,183,485 shares of the Internet radio service’s stock valued at $64,077,000 after acquiring an additional 2,454,296 shares during the last quarter. Nordea Investment Management AB bought a new position in Pandora Media in the 2nd quarter valued at $14,821,000. Finally, Locust Wood Capital Advisers LLC bought a new position in Pandora Media in the 2nd quarter valued at $12,574,000.
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.
Receive News & Ratings for Pandora Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media Inc. and related companies with MarketBeat.com's FREE daily email newsletter.