Morgan Stanley Lowers Pandora Media (NYSE:P) to Equal Weight

Pandora Media (NYSE:P) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, January 8th, Marketbeat reports. They currently have a $6.00 price target on the Internet radio service’s stock, down from their previous price target of $12.00. Morgan Stanley’s price target suggests a potential upside of 33.63% from the company’s current price.

Other equities analysts have also issued research reports about the company. FBR & Co reissued a “buy” rating and set a $11.00 price objective on shares of Pandora Media in a research note on Monday, September 25th. Piper Jaffray Companies set a $13.00 price objective on Pandora Media and gave the stock a “buy” rating in a research note on Friday, October 6th. Stifel Nicolaus set a $12.00 price objective on Pandora Media and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price target on shares of Pandora Media in a research note on Monday, October 30th. Finally, Wedbush set a $15.00 price target on Pandora Media and gave the company a “buy” rating in a research note on Monday, October 30th. Four investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $10.45.

Shares of Pandora Media (P) opened at $4.49 on Monday. The company has a market capitalization of $1,120.00, a P/E ratio of -1.80 and a beta of -0.25. Pandora Media has a 12-month low of $4.44 and a 12-month high of $13.72. 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 (NYSE:P) last issued its quarterly earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. The firm 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 business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) earnings per share. sell-side analysts anticipate that Pandora Media will post -1.09 EPS for the current fiscal year.

In other news, insider Christopher W. Phillips sold 9,988 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $5.11, for a total transaction of $51,038.68. Following the completion of the transaction, the insider now directly owns 413,884 shares of the company’s stock, valued at approximately $2,114,947.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Roger Lynch sold 78,707 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $4.77, for a total value of $375,432.39. Following the transaction, the chief executive officer now directly owns 701,607 shares of the company’s stock, valued at $3,346,665.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,389 shares of company stock worth $567,987. 2.59% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in Pandora Media by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 250,943 shares of the Internet radio service’s stock worth $2,238,000 after acquiring an additional 6,268 shares during the period. State of Wisconsin Investment Board raised its stake in shares of Pandora Media by 14.8% during the 2nd quarter. State of Wisconsin Investment Board now owns 50,304 shares of the Internet radio service’s stock worth $449,000 after buying an additional 6,500 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Pandora Media by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 76,259 shares of the Internet radio service’s stock worth $680,000 after buying an additional 6,141 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Pandora Media by 184.8% during the 2nd quarter. Victory Capital Management Inc. now owns 187,100 shares of the Internet radio service’s stock worth $1,669,000 after buying an additional 121,400 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Pandora Media during the 2nd quarter worth approximately $109,000.

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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.

Analyst Recommendations for Pandora Media (NYSE:P)

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