Pandora Media Inc (NYSE:P) has been assigned a consensus recommendation of “Hold” from the twenty-two ratings firms that are currently covering the stock, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $9.22.
Separately, Zacks Investment Research upgraded Pandora Media from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a report on Wednesday, January 16th.
Several hedge funds have recently bought and sold shares of P. Geode Capital Management LLC boosted its stake in Pandora Media by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 2,763,097 shares of the Internet radio service’s stock worth $22,353,000 after purchasing an additional 166,077 shares during the period. Norges Bank bought a new position in Pandora Media in the 4th quarter worth about $8,656,000. UBS Oconnor LLC bought a new position in Pandora Media in the 4th quarter worth about $9,785,000. Amalgamated Bank boosted its stake in Pandora Media by 158.1% in the 4th quarter. Amalgamated Bank now owns 38,864 shares of the Internet radio service’s stock worth $314,000 after purchasing an additional 23,805 shares during the period. Finally, HRT Financial LLC bought a new position in Pandora Media in the 4th quarter worth about $334,000. Institutional investors own 97.57% of the company’s stock.
P stock remained flat at $$8.38 during trading on Friday. Pandora Media has a 52 week low of $4.17 and a 52 week high of $10.07. The company has a market cap of $2.27 billion, a P/E ratio of -6.76 and a beta of 0.04. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 4.85.
About Pandora Media
Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides PandoraAd-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.
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