Pandora Media (P) Receives a Rating Update from a Top Analyst

By Carrie Williams

Credit Suisse analyst Stephen Ju maintained a Hold rating on Pandora Media (NYSE: P) today and set a price target of $10.80. The company’s shares closed yesterday at $8.98.

According to TipRanks.com, Ju is a top 100 analyst with an average return of 21.3% and a 71.6% success rate. Ju covers the Technology sector, focusing on stocks such as Activision Blizzard, Alphabet Inc, and Mercadolibre.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pandora Media with a $9.29 average price target, implying a 3.5% upside from current levels. In a report released yesterday, Wells Fargo also maintained a Hold rating on the stock with a $10 price target.

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Based on Pandora Media’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $91.98 million. In comparison, last year the company had a GAAP net loss of $275 million.

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Pandora Media, Inc. engages in the provision of a music discovery platform through internet radio services. It offers a personalized experience for listeners to listen radio on smartphones, tablets, computers, car audio systems, and Internet-connected devices.