Pandora Media Inc (P) is Reiterated by Canaccord Genuity to Buy, Raises Price Target to $ 18

Pandora Media Inc (P) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 18 from a previous price target of $14 . Canaccord Genuity advised their investors in a research report released on Sep 14, 2016.

Many Wall Street Analysts have commented on Pandora Media Inc. Company shares were Reiterated by Mizuho on Sep 14, 2016 to “Neutral”, Firm has raised the Price Target to $ 13 from a previous price target of $11 .Pandora Media Inc was Upgraded by SunTrust to ” Buy” on Sep 12, 2016. Company shares were Reiterated by MKM Partners on Aug 4, 2016 to “Neutral”, Firm has raised the Price Target to $ 13 from a previous price target of $11.50 .

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 opened for trading at $14.12 and hit $14.5 on the upside on Monday, eventually ending the session at $14.29, with a gain of 4.92% or 0.67 points. The heightened volatility saw the trading volume jump to 6,783,622 shares. Company has a market cap of $3,302 M.

In a different news, on Sep 2, 2016, Christopher Douglas Martin (Chief Technology Officer) sold 2,000 shares at $13.98 per share price. According to the SEC, on Aug 17, 2016, Christopher W Phillips (Chief Product Officer) sold 732 shares at $12.90 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.

Pandora Media Inc

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