Pandora Media’s (NYSE:P) “Hold” Rating Reaffirmed at TD Securities

Pandora Media (NYSE:P)‘s stock had its “hold” rating reiterated by analysts at TD Securities in a note issued to investors on Thursday, November 23rd.

A number of other brokerages have also issued reports on P. Wedbush reiterated a “buy” rating on shares of Pandora Media in a research report on Wednesday, July 26th. Royal Bank Of Canada decreased their target price on shares of Pandora Media from $15.00 to $10.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 1st. Piper Jaffray Companies decreased their target price on shares of Pandora Media to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, August 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $12.00 target price (down previously from $14.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $11.00 price target (down from $12.00) on shares of Pandora Media in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $10.94.

Pandora Media (NYSE:P) traded down $0.02 during mid-day trading on Thursday, reaching $4.75. 12,865,500 shares of the company’s stock traded hands, compared to its average volume of 9,844,884. The company has a debt-to-equity ratio of 1.58, a current ratio of 4.18 and a quick ratio of 4.18. Pandora Media has a 12-month low of $4.44 and a 12-month high of $14.10.

Pandora Media (NYSE:P) last released its quarterly earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $378.60 million during the quarter, compared to analyst estimates of $380.54 million. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 74.78%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. equities research analysts predict that Pandora Media will post -1.09 earnings per share for the current fiscal year.

In other Pandora Media news, EVP David Gerbitz sold 9,523 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total transaction of $48,662.53. Following the transaction, the executive vice president now owns 316,084 shares in the company, valued at $1,615,189.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher W. Phillips sold 9,988 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $5.11, for a total value of $51,038.68. Following the transaction, the insider now owns 413,884 shares in the company, valued at approximately $2,114,947.24. The disclosure for this sale can be found here. Insiders sold 37,682 shares of company stock worth $192,555 in the last 90 days. 2.59% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Legal & General Group Plc boosted its position in shares of Pandora Media by 145.8% in the first quarter. Legal & General Group Plc now owns 70,118 shares of the Internet radio service’s stock valued at $828,000 after acquiring an additional 41,597 shares during the period. State Street Corp boosted its position in shares of Pandora Media by 3.9% in the first quarter. State Street Corp now owns 2,949,923 shares of the Internet radio service’s stock valued at $34,844,000 after acquiring an additional 110,826 shares during the period. Aperio Group LLC bought a new stake in shares of Pandora Media in the second quarter valued at approximately $115,000. Public Employees Retirement Association of Colorado boosted its position 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 valued at $440,000 after acquiring an additional 125 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Pandora Media by 47.2% in the second quarter. Daiwa Securities Group Inc. now owns 564,728 shares of the Internet radio service’s stock valued at $5,037,000 after acquiring an additional 181,173 shares during the period.

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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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