Pandora Media, Inc. (P) Downgraded by BidaskClub

BidaskClub cut shares of Pandora Media, Inc. (NYSE:P) from a sell rating to a strong sell rating in a research report released on Thursday morning.

A number of other research firms have also commented on P. Goldman Sachs Group, Inc. (The) lifted their price target on shares of Pandora Media from $16.00 to $18.00 and gave the company a buy rating in a research report on Tuesday, May 9th. Instinet dropped their price target on shares of Pandora Media from $14.00 to $12.00 and set a neutral rating on the stock in a research report on Tuesday, May 9th. BMO Capital Markets reissued a hold rating and issued a $13.00 price target on shares of Pandora Media in a research report on Monday, April 17th. Stifel Nicolaus reissued a buy rating and issued a $15.00 price target on shares of Pandora Media in a research report on Wednesday, April 19th. Finally, Piper Jaffray Companies reissued an overweight rating and issued a $18.00 price target on shares of Pandora Media in a research report on Wednesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $13.35.

Shares of Pandora Media (P) opened at 6.91 on Thursday. The firm’s market cap is $1.66 billion. Pandora Media has a 52-week low of $6.76 and a 52-week high of $14.98. The stock has a 50 day moving average of $9.16 and a 200 day moving average of $11.60.

Pandora Media (NYSE:P) last issued its quarterly earnings data on Monday, May 8th. The Internet radio service reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.13. The firm had revenue of $316 million for the quarter, compared to analyst estimates of $318.15 million. Pandora Media had a negative net margin of 25.66% and a negative return on equity of 45.15%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.20) earnings per share. Equities analysts predict that Pandora Media will post ($0.51) EPS for the current fiscal year.

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In other Pandora Media news, EVP David Gerbitz sold 8,103 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $9.38, for a total transaction of $76,006.14. Following the completion of the sale, the executive vice president now directly owns 255,943 shares of the company’s stock, valued at approximately $2,400,745.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Douglas Martin sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $11.65, for a total value of $34,950.00. Following the sale, the insider now directly owns 275,569 shares of the company’s stock, valued at $3,210,378.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,642 shares of company stock worth $446,234. 6.64% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in P. Bessemer Group Inc. boosted its stake in shares of 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 in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Pandora Media during the first quarter valued at $136,000. Franklin Resources Inc. boosted its stake in shares of 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 in the last quarter. Levin Capital Strategies L.P. purchased a new stake in shares of Pandora Media during the fourth quarter valued at $177,000. Finally, Waldron LP purchased a new stake in shares of Pandora Media during the first quarter valued at $167,000.

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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