Citigroup Initiates Coverage on Pandora Media Inc to Buy

Citigroup Initiates Coverage on Pandora Media Inc(NYSE:P). The shares have been rated Buy. The rating by Citigroup was issued on Apr 11, 2016.

In a different note, 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. On Feb 12, 2016, FBR Capital said it Upgrades its rating on Pandora Media Inc. The shares have been rated ‘Outperform’ by the firm. On Feb 12, 2016, Credit Suisse said it Maintains its rating on Pandora Media Inc. In the research note, the firm Lowers the price-target to $24.00 per share. The shares have been rated ‘Neutral’ by the firm. On Feb 12, 2016, Stifel Nicolaus said it Maintains its rating on Pandora Media Inc. In the research note, the firm Lowers the price-target to $20.00 per share. The shares have been rated ‘Buy’ by the firm. On Feb 10, 2016, Cowen & Company said it Downgrades its rating on Pandora Media Inc. The shares have been rated ‘Market Perform’ by the firm. On Feb 9, 2016, Morgan Stanley said it Maintains its rating on Pandora Media Inc. In the research note, the firm Lowers the price-target to $16.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

Pandora Media Inc (P) shares turned negative on Fridays trading session with the shares closing down -0.34 points or -3.79% at a volume of 61,00,875. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.08. The peak price level was also seen at $9.08 while the days lowest was $8.6. Finally the shares closed at $8.62. The 52-week high of the shares is $22.6 while the 52-week low is $7.1. According to the latest information available, the market cap of the company is $1,963 M.

Pandora Media Inc(P) last announced its earnings results on Feb 11, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $336.16M. Analysts had an estimated revenue of $331.52M. Earnings per share were $0.04. Analysts had estimated an EPS of $0.07.

Several Insider Transactions has been reported to the SEC. On Mar 17, 2016, Christopher Douglas Martin (Chief Technology Officer) sold 2,000 shares at $9.80 per share price.Also, On Sep 18, 2015, Simon Fleming-wood (Chief Marketing Officer) sold 8,871 shares at $19.15 per share price.On May 29, 2015, David L Sze (director) sold 30,000 shares at $18.99 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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