Canaccord Genuity downgraded shares of Pandora Media (NYSE:P) from a buy rating to a hold rating in a research report sent to investors on Tuesday, MarketBeat reports. Canaccord Genuity currently has $9.00 target price on the Internet radio service’s stock, down from their previous target price of $11.00.

A number of other equities analysts have also weighed in on the stock. Susquehanna Bancshares lifted their price target on shares of Pandora Media from $7.00 to $8.00 and gave the company a neutral rating in a report on Wednesday, August 1st. BMO Capital Markets lifted their price target on shares of Pandora Media from $12.00 to $13.00 and gave the company an outperform rating in a report on Wednesday, August 1st. ValuEngine lowered shares of Pandora Media from a hold rating to a sell rating in a report on Tuesday, July 10th. Zacks Investment Research lowered shares of Pandora Media from a hold rating to a sell rating in a report on Wednesday, July 11th. Finally, Stifel Nicolaus lifted their price target on shares of Pandora Media from $7.00 to $8.00 and gave the company a hold rating in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, twenty-one have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $8.23.

NYSE P traded down $0.02 during mid-day trading on Tuesday, reaching $8.79. 6,096,707 shares of the stock were exchanged, compared to its average volume of 8,412,614. Pandora Media has a 1-year low of $4.09 and a 1-year high of $10.07. The firm has a market cap of $2.42 billion, a P/E ratio of -7.09 and a beta of -0.42. The company has a debt-to-equity ratio of 4.85, a quick ratio of 2.73 and a current ratio of 2.51.

Pandora Media (NYSE:P) last announced its earnings results on Monday, November 5th. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.05. Pandora Media had a negative net margin of 23.85% and a negative return on equity of 330.21%. The firm had revenue of $417.63 million for the quarter, compared to analyst estimates of $400.69 million. During the same quarter last year, the business earned ($0.06) earnings per share. Pandora Media’s revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts predict that Pandora Media will post -0.95 EPS for the current year.

In related news, CRO John Trimble sold 100,577 shares of Pandora Media stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $8.02, for a total transaction of $806,627.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO David Gerbitz sold 36,577 shares of Pandora Media stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $8.16, for a total transaction of $298,468.32. Following the sale, the chief operating officer now directly owns 574,617 shares in the company, valued at approximately $4,688,874.72. The disclosure for this sale can be found here. In the last three months, insiders sold 255,890 shares of company stock worth $2,114,405. Insiders own 2.59% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Pandora Media by 2.6% in the 3rd quarter. BlackRock Inc. now owns 18,080,889 shares of the Internet radio service’s stock worth $171,949,000 after purchasing an additional 461,308 shares during the last quarter. Waddell & Reed Financial Inc. increased its position in shares of Pandora Media by 1.6% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 12,937,073 shares of the Internet radio service’s stock worth $101,944,000 after purchasing an additional 205,294 shares during the last quarter. First Trust Advisors LP increased its position in shares of Pandora Media by 1.2% in the 3rd quarter. First Trust Advisors LP now owns 11,839,118 shares of the Internet radio service’s stock worth $112,590,000 after purchasing an additional 145,119 shares during the last quarter. Dorsal Capital Management LLC bought a new stake in shares of Pandora Media in the 2nd quarter worth about $59,100,000. Finally, Soros Fund Management LLC increased its position in shares of Pandora Media by 42.5% in the 2nd quarter. Soros Fund Management LLC now owns 7,123,275 shares of the Internet radio service’s stock worth $56,131,000 after purchasing an additional 2,123,275 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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