Pandora Media Inc (P) is Downgraded by Raymond James to Mkt Perform

Pandora Media Inc (P) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Apr 19, 2016.

Many Wall Street Analysts have commented on Pandora Media Inc. Citigroup Initiated Pandora Media Inc on Apr 12, 2016 to “Buy”, Price Target of the shares are set at $16.Mizuho Initiated Pandora Media Inc on Mar 30, 2016 to “Neutral”, Price Target of the shares are set at $10.Shares were Reiterated by MKM Partners on Feb 29, 2016 to “Neutral” and Lowered the Price Target to $ 11.50 from a previous price target of $18 .

On the company’s financial health, Pandora Media Inc reported $0.06 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Feb 11, 2016. Analyst had a consensus of $0.07. The company had revenue of $336.20 million for the quarter, compared to analysts expectations of $328.01 million. The company’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Pandora Media Inc opened for trading at $8.54 and hit $8.82 on the upside on Monday, eventually ending the session at $8.8, with a gain of 2.09% or 0.18 points. The heightened volatility saw the trading volume jump to 45,34,311 shares. Company has a market cap of $2,004 M.

In a different news, on Mar 17, 2016, Christopher Douglas Martin (Chief Technology Officer) sold 2,000 shares at $9.80 per share price. According to the SEC, 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.

Pandora Media Inc

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