Pandora Media (P) Upgraded to Hold by Cascend Securities

Pandora Media (NYSE:P) was upgraded by investment analysts at Cascend Securities from a “sell” rating to a “hold” rating in a research report issued on Monday.

P has been the topic of several other research reports. B. Riley increased their target price on Pandora Media from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Wedbush set a $10.00 target price on Pandora Media and gave the stock a “buy” rating in a research report on Wednesday, August 1st. William Blair downgraded Pandora Media from an “outperform” rating to a “market perform” rating in a research report on Monday. Canaccord Genuity set a $11.00 target price on Pandora Media and gave the stock a “buy” rating in a research report on Sunday. Finally, ValuEngine upgraded Pandora Media from a “sell” rating to a “hold” rating in a research report on Monday, June 11th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $7.98.

Pandora Media stock traded up $0.25 during trading on Monday, hitting $9.34. The stock had a trading volume of 1,995,477 shares, compared to its average volume of 9,010,958. Pandora Media has a 1 year low of $4.09 and a 1 year high of $10.07. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 2.76. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -7.56 and a beta of -0.49.

Pandora Media (NYSE:P) last posted its quarterly earnings data on Tuesday, July 31st. The Internet radio service reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.12. Pandora Media had a negative return on equity of 243.61% and a negative net margin of 24.14%. The business had revenue of $384.79 million for the quarter, compared to the consensus estimate of $373.61 million. equities research analysts forecast that Pandora Media will post -0.95 earnings per share for the current fiscal year.

In related news, insider Karen Sammis Walker sold 16,528 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $8.11, for a total value of $134,042.08. Following the transaction, the insider now owns 701,007 shares of the company’s stock, valued at $5,685,166.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stephen G. Bene sold 27,208 shares of the stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $8.16, for a total value of $222,017.28. Following the completion of the transaction, the general counsel now directly owns 577,033 shares in the company, valued at approximately $4,708,589.28. The disclosure for this sale can be found here. Insiders sold 180,890 shares of company stock worth $1,461,155 in the last quarter. 0.43% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dorsal Capital Management LLC bought a new position in shares of Pandora Media during the second quarter valued at about $59,100,000. BlackRock Inc. grew its stake in shares of Pandora Media by 49.4% during the second quarter. BlackRock Inc. now owns 17,619,581 shares of the Internet radio service’s stock valued at $138,843,000 after buying an additional 5,829,889 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Pandora Media by 91.0% during the first quarter. Point72 Asset Management L.P. now owns 7,199,893 shares of the Internet radio service’s stock valued at $36,215,000 after buying an additional 3,430,893 shares during the last quarter. Cove Street Capital LLC bought a new position in shares of Pandora Media during the first quarter valued at about $14,605,000. Finally, Millennium Management LLC grew its stake in shares of Pandora Media by 235.0% during the second quarter. Millennium Management LLC now owns 4,025,761 shares of the Internet radio service’s stock valued at $31,723,000 after buying an additional 2,824,028 shares during the last quarter.

Pandora Media Company Profile

Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora?Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.

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Analyst Recommendations for Pandora Media (NYSE:P)

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