Pandora Media, Inc. (NYSE:P) posted its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.08, Morningstar.com reports. The firm had revenue of $376.83 million for the quarter, compared to analysts’ expectations of $367.51 million. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) EPS.
Shares of Pandora Media (NYSE P) opened at 8.27 on Friday. Pandora Media has a one year low of $6.76 and a one year high of $14.98. The stock’s 50 day moving average is $8.89 and its 200-day moving average is $10.31. The firm’s market cap is $2.01 billion.
Several analysts recently weighed in on P shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Pandora Media in a research note on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) lifted their price target on Pandora Media from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. B. Riley reissued a “buy” rating and set a $15.00 price target on shares of Pandora Media in a research note on Tuesday, May 9th. Canaccord Genuity restated a “buy” rating and set a $5.50 price objective on shares of Pandora Media in a research report on Thursday, May 11th. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $10.50 price objective (down from $16.00) on shares of Pandora Media in a research report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.07.
In related news, insider Christopher Douglas Martin sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 257,921 shares of the company’s stock, valued at $2,367,714.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Gerbitz sold 9,959 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $83,854.78. Following the completion of the sale, the executive vice president now directly owns 355,607 shares of the company’s stock, valued at approximately $2,994,210.94. The disclosure for this sale can be found here. Insiders have sold 40,366 shares of company stock valued at $342,162 in the last ninety days. 2.59% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in P. Marshall Wace North America L.P. increased its position in Pandora Media by 789.9% in the second quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock worth $27,758,000 after buying an additional 2,737,635 shares during the period. First Trust Advisors LP increased its position in Pandora Media by 51.9% in the second quarter. First Trust Advisors LP now owns 7,183,485 shares of the Internet radio service’s stock worth $64,077,000 after buying an additional 2,454,296 shares during the last quarter. Alliancebernstein L.P. increased its position in Pandora Media by 44.0% in the first quarter. Alliancebernstein L.P. now owns 5,660,574 shares of the Internet radio service’s stock worth $66,851,000 after buying an additional 1,729,354 shares during the last quarter. York Capital Management Global Advisors LLC acquired a new position in Pandora Media during the first quarter worth about $20,025,000. Finally, Nordea Investment Management AB acquired a new position in Pandora Media during the second quarter worth about $14,821,000.
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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.
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