Pandora Media, Inc. (NYSE:P) Earns “Hold” Rating from Wells Fargo & Company

Pandora Media, Inc. (NYSE:P)‘s stock had its “hold” rating reissued by equities researchers at Wells Fargo & Company in a report released on Tuesday.

Other equities research analysts have also recently issued reports about the stock. Nomura decreased their price objective on shares of Pandora Media from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Tuesday, May 9th. B. Riley reiterated a “buy” rating and set a $15.00 price objective on shares of Pandora Media in a research 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 research report on Saturday, June 10th. Wedbush reiterated a “buy” rating on shares of Pandora Media in a research report on Tuesday, August 1st. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $8.95 price objective (up from $8.55) on shares of Pandora Media in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $12.07.

Pandora Media (P) opened at 8.07 on Tuesday. The stock’s 50 day moving average is $8.92 and its 200-day moving average is $10.40. The company’s market capitalization is $1.96 billion. Pandora Media has a 12 month low of $6.76 and a 12 month high of $14.98.

Pandora Media (NYSE:P) last posted its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $367.51 million. During the same period in the prior year, the company posted ($0.12) earnings per share. Pandora Media’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts expect that Pandora Media will post ($0.50) EPS for the current year.

COPYRIGHT VIOLATION WARNING: “[[title]]” was first posted by [[site]] and is the sole property of of [[site]]. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at [[permalink]].

In other news, insider Christopher Douglas Martin sold 3,000 shares of Pandora Media stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $9.18, for a total value of $27,540.00. Following the completion of the transaction, the insider now owns 257,921 shares in the company, valued at $2,367,714.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.59% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Stoneridge Investment Partners LLC boosted its position in shares of Pandora Media by 54.1% in the first quarter. Stoneridge Investment Partners LLC now owns 89,225 shares of the Internet radio service’s stock valued at $1,054,000 after buying an additional 31,339 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Pandora Media during the first quarter valued at approximately $446,000. SLS Management LLC boosted its position in shares of Pandora Media by 46.0% in the first quarter. SLS Management LLC now owns 695,636 shares of the Internet radio service’s stock valued at $8,215,000 after buying an additional 219,250 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Pandora Media by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 1,043,059 shares of the Internet radio service’s stock valued at $13,601,000 after buying an additional 41,279 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Pandora Media by 12.5% in the first quarter. Blair William & Co. IL now owns 112,955 shares of the Internet radio service’s stock valued at $1,340,000 after buying an additional 12,579 shares in the last quarter.

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.