Axiom Upgrades Pandora Media Inc to Buy

Brokerage firm Axiom Upgrades its rating on Pandora Media Inc(NYSE:P). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Axiom was issued on Jun 9, 2016.

In a different note, On May 23, 2016, B. Riley said it Upgrades its rating on Pandora Media Inc. The shares have been rated ‘Buy’ by the firm. On Apr 19, 2016, Raymond James said it Downgrades its rating on Pandora Media Inc. The shares have been rated ‘Market Perform’ by the firm. Mizuho Securities said it Initiates Coverage on Pandora Media Inc, according to a research note issued on Mar 29, 2016. The shares have been rated ‘Neutral’ by the firm.

Pandora Media Inc (P) made into the market gainers list on Wednesdays trading session with the shares advancing 1.54% or 0.17 points. Due to strong positive momentum, the stock ended at $11.24, which is also near the day’s high of $11.495. The stock began the session at $11.12 and the volume stood at 41,12,539 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 $2,571 M and it has 22,87,77,600 shares in outstanding.

Pandora Media Inc(P) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $297.31M. Analysts had an estimated revenue of $286.30M. Earnings per share were $-0.20. Analysts had estimated an EPS of $-0.32.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Christopher Douglas Martin (Chief Technology Officer) sold 2,000 shares at $11.62 per share price.Also, On Jun 2, 2016, Timothy Leiweke (director) purchased 10,000 shares at $11.64 per share price.On May 3, 2016, Michael S Herring (CFO) purchased 50,000 shares at $9.21 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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