Cascend Securities Begins Coverage on Pandora Media (P)

Cascend Securities initiated coverage on shares of Pandora Media (NYSE:P) in a research note published on Monday morning. The brokerage issued a sell rating and a $6.00 price target on the Internet radio service’s stock.

Other analysts also recently issued research reports about the stock. Macquarie reaffirmed a hold rating and set a $5.00 price objective on shares of Pandora Media in a research report on Sunday, February 25th. JPMorgan Chase reduced their price objective on shares of Pandora Media from $8.00 to $7.00 and set a neutral rating for the company in a research report on Tuesday, April 10th. Raymond James raised shares of Pandora Media from a market perform rating to a strong-buy rating and set a $8.00 price target for the company in a research report on Thursday, March 22nd. Credit Suisse Group reissued a neutral rating and issued a $5.00 price target (down previously from $6.00) on shares of Pandora Media in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus reissued a hold rating and issued a $7.00 price target on shares of Pandora Media in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $8.54.

Shares of P stock opened at $7.41 on Monday. The company has a market cap of $1.85 billion, a PE ratio of -5.98 and a beta of -0.59. Pandora Media has a 52 week low of $7.21 and a 52 week high of $7.45. The company has a debt-to-equity ratio of 6.15, a current ratio of 3.62 and a quick ratio of 3.62.

Pandora Media (NYSE:P) last announced its quarterly earnings data on Thursday, May 3rd. The Internet radio service reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.11. The company had revenue of $319.20 million during the quarter, compared to the consensus estimate of $304.43 million. Pandora Media had a negative net margin of 37.21% and a negative return on equity of 198.06%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.24) EPS. sell-side analysts expect that Pandora Media will post -0.89 earnings per share for the current fiscal year.

In other news, insider Christopher W. Phillips sold 22,083 shares of Pandora Media stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $7.32, for a total transaction of $161,647.56. Following the sale, the insider now directly owns 750,604 shares in the company, valued at approximately $5,494,421.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.59% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in P. Creative Planning bought a new stake in shares of Pandora Media during the 4th quarter worth $128,000. Commerzbank Aktiengesellschaft FI raised its stake in shares of Pandora Media by 35.3% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 417,522 shares of the Internet radio service’s stock worth $2,012,000 after purchasing an additional 108,876 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Pandora Media during the 4th quarter worth $2,174,000. Gabelli Funds LLC raised its stake in shares of Pandora Media by 185.5% during the 4th quarter. Gabelli Funds LLC now owns 1,091,181 shares of the Internet radio service’s stock worth $5,259,000 after purchasing an additional 709,000 shares during the period. Finally, Teton Advisors Inc. raised its stake in shares of Pandora Media by 70.7% during the 4th quarter. Teton Advisors Inc. now owns 129,272 shares of the Internet radio service’s stock worth $623,000 after purchasing an additional 53,551 shares during the period.

About Pandora Media

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.

Analyst Recommendations for Pandora Media (NYSE:P)

Receive News & Ratings for Pandora Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply