Pandora Media, Inc. (NYSE:P) has been assigned a $12.00 price objective by equities research analysts at Stifel Nicolaus in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the Internet radio service’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 64.16% from the company’s current price.

A number of other equities analysts have also weighed in on P. Morgan Stanley reiterated an “overweight” rating and set a $12.00 target price on shares of Pandora Media in a research note on Wednesday, July 5th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Pandora Media in a research note on Thursday, July 6th. BMO Capital Markets reiterated a “hold” rating and set a $12.00 target price on shares of Pandora Media in a research note on Sunday, July 16th. Wedbush reiterated a “buy” rating on shares of Pandora Media in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada lowered their target price on Pandora Media from $15.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Pandora Media has a consensus rating of “Hold” and an average price target of $11.81.

Pandora Media (NYSE:P) last announced its earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.08. The company had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) earnings per share.

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In related news, insider Christopher W. Phillips sold 10,322 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $86,911.24. Following the completion of the sale, the insider now directly owns 423,872 shares of the company’s stock, valued at approximately $3,569,002.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stephen G. Bene sold 6,538 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total value of $55,049.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,366 shares of company stock valued at $564,822. Corporate insiders own 2.59% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Teton Advisors Inc. increased its position in Pandora Media by 200.7% in the 3rd quarter. Teton Advisors Inc. now owns 75,721 shares of the Internet radio service’s stock valued at $583,000 after buying an additional 50,540 shares in the last quarter. Gamco Investors INC. ET AL increased its position in Pandora Media by 80.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 684,691 shares of the Internet radio service’s stock valued at $5,272,000 after buying an additional 305,500 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in Pandora Media by 9.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 1,930,863 shares of the Internet radio service’s stock valued at $14,868,000 after buying an additional 170,728 shares in the last quarter. Bourgeon Capital Management LLC bought a new stake in Pandora Media in the 3rd quarter valued at about $115,000. Finally, Peregrine Capital Management LLC increased its position in Pandora Media by 3.5% in the 3rd quarter. Peregrine Capital Management LLC now owns 1,146,316 shares of the Internet radio service’s stock valued at $8,827,000 after buying an additional 38,992 shares in the last quarter.

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.

Analyst Recommendations for Pandora Media (NYSE:P)

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