Pandora Media Inc (NYSE:P)‘s stock had its “outperform” rating reissued by investment analysts at Macquarie in a research note issued on Thursday, AnalystRatings.NET reports. They currently have a $17.00 price objective on the Internet radio service’s stock. Macquarie’s price objective would suggest a potential upside of 77.08% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Pandora Media from $27.00 to $25.00 in a research note on Monday, December 7th. Canaccord Genuity restated a “buy” rating on shares of Pandora Media in a research note on Tuesday, September 29th. Stifel Nicolaus lifted their price objective on shares of Pandora Media from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, September 29th. RBC Capital restated a “buy” rating and set a $24.00 price objective on shares of Pandora Media in a research note on Wednesday, October 7th. Finally, Piper Jaffray restated a “buy” rating on shares of Pandora Media in a research note on Wednesday, October 7th. Twenty analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Pandora Media currently has an average rating of “Buy” and an average price target of $19.66.

A number of institutional investors have recently bought and sold shares of P. J. Goldman & Company boosted its position in Pandora Media by 18.8% in the third quarter. J. Goldman & Company now owns 950,000 shares of the Internet radio service’s stock valued at $20,273,000 after buying an additional 150,000 shares in the last quarter. Nordea Investment Management AB purchased a new position in Pandora Media during the fourth quarter valued at about $4,616,000. Simplex Trading boosted its position in Pandora Media by 259.1% in the fourth quarter. Simplex Trading now owns 109,195 shares of the Internet radio service’s stock valued at $1,464,000 after buying an additional 78,789 shares in the last quarter. Perigon Wealth Management raised its position in Pandora Media by 2.2% in the third quarter. Perigon Wealth Management now owns 64,970 shares of the Internet radio service’s stock valued at $1,386,000 after buying an additional 1,402 shares during the last quarter. Finally, Quantitative Systematic Strategies raised its position in Pandora Media by 26.1% in the fourth quarter. Quantitative Systematic Strategies now owns 31,530 shares of the Internet radio service’s stock valued at $421,000 after buying an additional 6,518 shares during the last quarter.

Shares of Pandora Media (NYSE:P) traded down 1.34% during midday trading on Thursday, reaching $9.60. 5,486,078 shares of the company were exchanged. Pandora Media has a 52-week low of $8.92 and a 52-week high of $22.60. The firm’s 50 day moving average is $12.11 and its 200-day moving average is $15.65. The company’s market capitalization is $2.05 billion.

Pandora Media (NYSE:P) last announced its quarterly earnings results on Thursday, October 22nd. The Internet radio service reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $311.60 million for the quarter, compared to analyst estimates of $312.97 million. During the same period last year, the firm posted $0.09 EPS. The business’s revenue was up 30.1% compared to the same quarter last year. On average, equities analysts forecast that Pandora Media will post $0.11 earnings per share for the current fiscal year.

Pandora Media, Inc. (NYSE:P) is a provider of Internet radio services. The Company offers 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. In addition, Pandora offers local and national advertisers to provide targeted messages to its listeners using a combination of audio, display and video advertisements. The Company has operations in the United States, Australia and New Zealand. The Company enables each of its listeners to create up to 100 personalized stations. Its technologies include Music Genome Project, Comedy Genome Project, Playlist Generating Algorithms, Pandora User Experience, Pandora Mobile Streaming, Automotive Protocol, Pandora API and Tv.pandora.com. The Company provides its services through two models, which include Free Service and Pandora One.

12 Month Chart for NYSE:P

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