Pandora Media Inc (P) is Downgraded by BofA/Merrill to Underperform

Pandora Media Inc (P) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Oct 17, 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 .Company shares were Reiterated by Canaccord Genuity on Sep 14, 2016 to “Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $14 .Pandora Media Inc was Upgraded by SunTrust to ” Buy” on Sep 12, 2016.

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 -0.34 points or -2.58% at $12.83 with 54,60,489 shares getting traded on Friday. Post opening the session at $13.22, the shares hit an intraday low of $12.76 and an intraday high of $13.405 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Sep 19, 2016, Christopher Douglas Martin (Chief Technology Officer) sold 2,000 shares at $13.37 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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