Pandora Media, Inc. (NYSE:P) Downgraded to “Sell” at BidaskClub

Pandora Media, Inc. (NYSE:P) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday, August 5th.

A number of other equities research analysts have also recently weighed in on P. B. Riley restated a “buy” rating and issued a $15.00 price objective on shares of Pandora Media in a report on Tuesday, May 9th. Nomura cut their price objective on shares of Pandora Media from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Tuesday, May 9th. Piper Jaffray Companies set a $18.00 price objective on shares of Pandora Media and gave the stock a “buy” rating in a report on Saturday, June 10th. Wedbush restated a “buy” rating on shares of Pandora Media in a report on Tuesday, August 1st. Finally, Credit Suisse Group restated a “neutral” rating and issued a $8.95 price objective (up previously from $8.55) on shares of Pandora Media in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.07.

Shares of Pandora Media (NYSE P) traded down 2.59% during mid-day trading on Friday, hitting $8.27. The stock had a trading volume of 4,989,659 shares. The stock’s 50-day moving average is $8.89 and its 200 day moving average is $10.31. The firm’s market capitalization is $2.01 billion. Pandora Media has a 1-year low of $6.76 and a 1-year high of $14.98.

Pandora Media (NYSE:P) last released its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.08. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The company had revenue of $376.83 million during the quarter, compared to the consensus estimate of $367.51 million. During the same period in the prior year, the firm earned ($0.12) earnings per share. Pandora Media’s revenue was up 9.9% on a year-over-year basis. Equities research analysts predict that Pandora Media will post ($0.51) EPS for the current fiscal year.

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In other news, General Counsel Stephen G. Bene sold 6,538 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $55,049.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher Douglas Martin sold 3,000 shares of Pandora Media stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $9.18, for a total transaction of $27,540.00. Following the completion of the sale, the insider now owns 257,921 shares in the company, valued at $2,367,714.78. The disclosure for this sale can be found here. Insiders have sold a total of 40,366 shares of company stock worth $342,162 over the last 90 days. Insiders own 2.59% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado increased its stake in shares of Pandora Media by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 49,301 shares of the Internet radio service’s stock worth $440,000 after buying an additional 125 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Pandora Media by 1.0% in the first quarter. Asset Management One Co. Ltd. now owns 31,074 shares of the Internet radio service’s stock worth $365,000 after buying an additional 316 shares in the last quarter. Concourse Capital Management LLC increased its stake in shares of Pandora Media by 0.4% in the first quarter. Concourse Capital Management LLC now owns 95,378 shares of the Internet radio service’s stock worth $1,126,000 after buying an additional 378 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Pandora Media by 3.8% in the first quarter. Teacher Retirement System of Texas now owns 17,702 shares of the Internet radio service’s stock worth $209,000 after buying an additional 640 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of Pandora Media by 0.9% in the second quarter. Voya Investment Management LLC now owns 87,150 shares of the Internet radio service’s stock worth $777,000 after buying an additional 740 shares in the last quarter.

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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