Analysts at Needham & Company hoisted their price objective on shares of Pandora Media (NYSE:P) from $20.00 to $25.00 in a research report issued to clients and investors on Monday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Needham & Company’s price target points to a potential upside of 22.91% from the stock’s previous close.
The analysts wrote, “rapid”
Shares of Pandora Media (NYSE:P) traded up 5.43% during mid-day trading on Monday, hitting $21.445. 9,196,421 shares of the company’s stock traded hands. Pandora Media has a 1-year low of $7.08 and a 1-year high of $21.50. The stock has a 50-day moving average of $19.04 and a 200-day moving average of $15.26. The company’s market cap is $3.749 billion. Pandora Media also was the recipient of unusually large options trading activity on Friday. Traders bought 39,575 call options on the stock. This is an increase of 499% compared to the typical daily volume of 6,611 call options.
A number of other firms have also recently commented on P. Analysts at UBS AG upgraded shares of Pandora Media from a “neutral” rating to a “buy” rating in a research note to investors on Friday. They now have a $27.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Pandora Media from a “neutral” rating to a “buy” rating in a research note to investors on Friday. They now have a $27.00 price target on the stock, up previously from $18.00. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Pandora Media from $22.00 to $23.00 in a research note to investors on Wednesday, August 7th. They now have an “overweight” rating on the stock.
Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $18.59.
In other Pandora Media news, Director Robert Kavner sold 9,000 shares of the company’s stock in a transaction that occured on Monday, August 5th. The shares were sold at an average price of $19.60, for a total transaction of $176,400.00. Following the transaction, the director now directly owns 27,757 shares of the company’s stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Pandora Media, Inc (NYSE:P), is an Internet radio in the United States.
