Pandora Media, Inc. (NYSE:P) Given Buy Rating at Canaccord Genuity

Xavier Trudeau
Août 3, 2017

P has been the subject of several other reports. Bank of America Corporation now has a $7.50 price target on the Internet radio service's stock, down from their previous price target of $9.00. The stock of Pandora Media Inc (NYSE:P) earned "Hold" rating by Macquarie Research on Monday, June 5. Cowen and Company dropped their price target on shares of Pandora Media from $9.00 to $8.00 and set a market perform rating for the company in a research report on Tuesday, May 9th. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Pandora Media by 32.7% in the first quarter. Canaccord Genuity reaffirmed a "buy" rating and issued a $5.50 price objective on shares of Pandora Media in a report on Thursday, May 11th. BMO Capital Markets restated a market perform rating and set a $11.00 price target (down previously from $12.00) on shares of Pandora Media in a research report on Tuesday. Finally, MKM Partners reaffirmed a "neutral" rating and issued a $10.00 price target (down from $12.00) on shares of Pandora Media in a report on Tuesday, May 23rd.

Among 7 analysts covering Northwest Bancshares (NASDAQ:NWBI), 1 have Buy rating, 1 Sell and 5 Hold. The company has a consensus rating of Hold and an average price target of $12.07.

Pandora Media (NYSE P) traded down 3.12% during midday trading on Tuesday, hitting $8.38.

About 914,094 shares traded. Matrix Capital Management Company Lp who had been investing in Pandora Media Inc for a number of months, seems to be bullish on the $2.10 billion market cap company. The stock's average target of $104.50 is -10.23% below today's ($116.41) share price. Over the last six months, Pandora Media, Inc.'s stock has been -33.46% and -35.93% for the year. Pandora Media also saw unusually large options trading activity on Monday. Stock traders bought 13,874 call options on the company. This represents an increase of 217% compared to the average daily volume of 4,381 call options.

Pandora Media (NYSE:P) last released its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.39) by $0.08. The firm had revenue of $376.83 million during the quarter, compared to the consensus estimate of $367.51 million. It worsened, as 39 investors sold Pandora Media Inc shares while 68 reduced holdings. The business's revenue was up 9.9% compared to the same quarter a year ago. On average, equities research analysts anticipate that Pandora Media will post ($0.50) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this news story on another website, it was copied illegally and reposted in violation of U.S. & global trademark and copyright law. The correct version of this piece can be viewed at https://sportsperspectives.com/2017/08/02/bank-of-america-corporation-reiterates-underperform-rating-for-pandora-media-inc-p.html. Also, insider Christopher Douglas Martin sold 3,000 shares of Pandora Media stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $9.18, for a total value of $27,540.00. Following the completion of the sale, the insider now owns 257,921 shares in the company, valued at $2,367,714.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stephen G. Bene sold 6,161 shares of the business's stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $9.38, for a total transaction of $57,790.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,642 shares of company stock worth $411,284.

Several hedge funds have recently made changes to their positions in the stock. IPG Investment Advisors LLC now owns 88,620 shares of the Internet radio service's stock valued at $790,000 after buying an additional 40,570 shares during the last quarter. 1832 Asset Management Lp accumulated 0% or 280 shares. Aperio Group LLC purchased a new stake in Pandora Media during the second quarter worth approximately $115,000. Ltd. now owns 31,074 shares of the Internet radio service's stock worth $365,000 after buying an additional 316 shares in the last quarter. Two Sigma Securities LLC bought a new position in Pandora Media during the first quarter worth $136,000. Concourse Capital Management LLC now owns 95,378 shares of the Internet radio service's stock worth $1,126,000 after buying an additional 378 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Pandora Media by 26.5% in the first quarter. KS raised its stake in shares of Pandora Media by 8.1% in the first quarter. Gruss & Co. Inc. now owns 16,000 shares of the Internet radio service's stock valued at $189,000 after buying an additional 1,000 shares during the last quarter.

Inc. increased its position in Pandora Media by 6.7% in the first quarter. The Firm delivers targeted messages to its listeners using a combination of audio, display and video advertisements.

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