Pandora Media (P) Receives “Market Perform” Rating from Cowen

Cowen reaffirmed their market perform rating on shares of Pandora Media (NYSE:P) in a research report report published on Friday. The firm currently has a $4.00 price objective on the Internet radio service’s stock, down from their previous price objective of $6.00.

P has been the topic of several other reports. JPMorgan Chase & Co. lowered shares of Pandora Media from an overweight rating to a neutral rating and set a $9.00 price target on the stock. in a research report on Friday, November 3rd. Stifel Nicolaus set a $12.00 price objective on shares of Pandora Media and gave the company a buy rating in a research report on Tuesday, October 31st. Zacks Investment Research raised shares of Pandora Media from a sell rating to a hold rating in a research report on Thursday, November 9th. BMO Capital Markets raised shares of Pandora Media from a market perform rating to an outperform rating and dropped their price objective for the company from $11.00 to $7.00 in a research report on Thursday, November 16th. Finally, B. Riley lowered shares of Pandora Media from a buy rating to a neutral rating and dropped their price objective for the company from $11.00 to $8.00 in a research report on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and eleven have assigned a buy rating to the stock. Pandora Media presently has a consensus rating of Hold and an average price target of $9.27.

Pandora Media (P) traded down $0.21 during midday trading on Friday, reaching $4.31. 20,300,000 shares of the company’s stock traded hands, compared to its average volume of 11,250,000. The company has a debt-to-equity ratio of 1.79, a current ratio of 4.03 and a quick ratio of 4.18. Pandora Media has a 1 year low of $4.09 and a 1 year high of $13.36. The company has a market capitalization of $1,070.00, a price-to-earnings ratio of -1.87 and a beta of -0.48.

Pandora Media (NYSE:P) last posted its quarterly earnings results on Wednesday, February 21st. The Internet radio service reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.14). Pandora Media had a negative return on equity of 111.95% and a negative net margin of 36.83%. The firm had revenue of $395.00 million for the quarter, compared to the consensus estimate of $376.79 million. During the same period last year, the company posted ($0.13) earnings per share. The business’s revenue was up .6% compared to the same quarter last year. sell-side analysts expect that Pandora Media will post -0.84 EPS for the current fiscal year.

In other news, General Counsel Stephen G. Bene sold 11,260 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $5.07, for a total value of $57,088.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Roger Lynch sold 78,707 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $4.77, for a total transaction of $375,432.39. Following the completion of the sale, the chief executive officer now owns 701,607 shares in the company, valued at $3,346,665.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,204 shares of company stock worth $606,102. 2.59% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in Pandora Media in the 4th quarter valued at approximately $106,000. Two Sigma Advisers LP bought a new position in Pandora Media in the 4th quarter valued at approximately $110,000. Fox Run Management L.L.C. bought a new position in Pandora Media in the 3rd quarter valued at approximately $111,000. Two Sigma Securities LLC raised its holdings in Pandora Media by 106.7% in the 4th quarter. Two Sigma Securities LLC now owns 23,323 shares of the Internet radio service’s stock valued at $112,000 after buying an additional 12,040 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new position in Pandora Media in the 3rd quarter valued at approximately $115,000.

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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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