Pandora Media Inc (P) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 16 from a previous price target of $12 . Needham advised their investors in a research report released on Jul 13, 2016.
Many Wall Street Analysts have commented on Pandora Media Inc. Pandora Media Inc was Upgraded by Piper Jaffray to ” Overweight” on Jul 13, 2016. Pandora Media Inc was Upgraded by Morgan Stanley to ” Overweight” on Jun 27, 2016. Axiom Capital Upgraded Pandora Media Inc on Jun 9, 2016 to ” Buy”, Price Target of the shares are set at $16.
On the company’s financial health, Pandora Media Inc reported $-0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.30. The company had revenue of $297.31 million for the quarter, compared to analysts expectations of $285.23 million. The company’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 EPS.
Pandora Media Inc closed down -0.24 points or -1.81% at $13.04 with 58,46,152 shares getting traded on Monday. Post opening the session at $13.22, the shares hit an intraday low of $13.03 and an intraday high of $13.2999 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 20, 2016, Christopher Douglas Martin (Chief Technology Officer) sold 2,000 shares at $11.19 per share price. According to the SEC, 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.