Several other research firms also recently commented on P. MKM Partners reissued a hold rating and set a $11.50 target price on shares of Pandora Media in a research report on Saturday, July 9th. B. Riley reaffirmed a buy rating and issued a $15.00 price target on shares of Pandora Media in a research report on Thursday, June 23rd. Finally, Wedbush set a $15.00 price target on Pandora Media and gave the company a buy rating in a research report on Wednesday, September 14th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $15.65.
Shares of Pandora Media (NYSE:P) traded up 3.029% during midday trading on Monday, hitting $12.755. The stock had a trading volume of 1,462,730 shares. Pandora Media has a 12-month low of $7.10 and a 12-month high of $20.16. The firm’s market cap is $2.95 billion. The company’s 50-day moving average price is $13.97 and its 200-day moving average price is $12.10.
Pandora Media (NYSE:P) last announced its quarterly earnings data on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. Pandora Media had a negative return on equity of 25.53% and a negative net margin of 23.04%. The business earned $343 million during the quarter, compared to analyst estimates of $351.48 million. Equities research analysts forecast that Pandora Media will post ($0.39) EPS for the current year.
In related news, insider Christopher W. Phillips sold 12,274 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $12.15, for a total value of $149,129.10. Following the transaction, the insider now owns 288,878 shares in the company, valued at approximately $3,509,867.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christopher Douglas Martin sold 2,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $13.60, for a total transaction of $27,200.00. Following the completion of the transaction, the insider now owns 344,470 shares in the company, valued at approximately $4,684,792. The disclosure for this sale can be found here. Company insiders own 6.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Gruss & Co. Inc. bought a new position in shares of Pandora Media during the second quarter worth approximately $125,000. Osterweis Capital Management Inc. bought a new position in shares of Pandora Media during the second quarter worth approximately $125,000. Passport Capital LLC bought a new position in shares of Pandora Media during the second quarter worth approximately $127,000. Franklin Resources Inc. bought a new position in shares of Pandora Media during the second quarter worth approximately $144,000. Finally, Natixis bought a new position in shares of Pandora Media during the first quarter worth approximately $159,000.
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.
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