Macquarie Maintains Pandora Media Inc to Outperform with Price Target $17.00

Brokerage firm Macquarie Maintains its rating on Pandora Media Inc(NYSE:P). In a research note issued to the investors, the brokerage major Raises the price-target to $17.00 per share. The shares have been rated Outperform. The rating by Macquarie was issued on Aug 29, 2016.

In a different note, On Jul 22, 2016, Pacific Crest said it Downgrades its rating on Pandora Media Inc. The shares have been rated ‘Underweight’ by the firm. On Jul 13, 2016, Piper Jaffray said it Upgrades its rating on Pandora Media Inc. The shares have been rated ‘Overweight’ by the firm. On Jun 27, 2016, Morgan Stanley said it Upgrades its rating on Pandora Media Inc. In the research note, the firm Raises the price-target to $11.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jun 14, 2016, Scotiabank said it Upgrades its rating on Pandora Media Inc. The shares have been rated ‘Sector Perform’ by the firm. On Jun 9, 2016, Axiom said it Upgrades its rating on Pandora Media Inc. The shares have been rated ‘Buy’ by the firm.

Pandora Media Inc (P) made into the market gainers list on Thursdays trading session with the shares advancing 2.71% or 0.38 points. Due to strong positive momentum, the stock ended at $14.38, which is also near the day’s high of $14.41. The stock began the session at $13.98 and the volume stood at 34,45,095 shares. The 52-week high of the shares is $22.6 and the 52 week low is $7.1. The company has a current market capitalization of $3,322 M and it has 23,10,41,580 shares in outstanding.

Pandora Media Inc(P) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $343.02M. Analysts had an estimated revenue of $351.49M. Earnings per share were $-0.12. Analysts had estimated an EPS of $-0.16.

Several Insider Transactions has been reported to the SEC. On Aug 17, 2016, Christopher W Phillips (Chief Product Officer) sold 732 shares at $12.90 per share price.Also, On Aug 17, 2016, Christopher Douglas Martin (Chief Technology Officer) sold 2,000 shares at $13.21 per share price.On Jun 2, 2016, Timothy Leiweke (director) purchased 10,000 shares at $11.64 per share price, according to the Form-4 filing with the securities and exchange commission.

Pandora Media Inc. is a United States-based provider of Internet radio in the United States. The Company offers a personalized experience for each of its listeners wherever and whenever they want to listen to radio on a range of smartphones tablets computers and car audio systems as well as a range of other Internet-connected devices. It allows local and national advertisers to deliver targeted messages to its listeners using a combination of audio display and video advertisements. Its free service is advertising-based and allows listeners access to its music and comedy catalogs and personalized playlist generating system for free across all of its delivery platforms. Pandora One is a paid subscription service without any advertising. Pandora One also offers listeners daily skips audio on supported devices and timeout-free listening. The Company’s technologies include Music Genome Project and Comedy Genome Project.

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