Goldman Sachs analyst Heath Terry trimmed his price target on Pandora (NYSE: P) to $24.00 (from $25.00) following results Q3 results but maintained a Buy rating.

Q3 results were in-line but listener engagement slowed.

"We continue to believe that with nearly 90mn logged in mobile users and over 5bn hours of engagement, Pandora's value as a platform is underreflected in its 2X 2016E sales multiple. Therefore, we remain Buy-rated."

The firm lowers 2015-2017 revenue and adjusted EBITDA estimates by 1% and 20% on average to reflect the higher content acquisition costs associated with the settlement.

For an analyst ratings summary and ratings history on Pandora click here. For more ratings news on Pandora click here.

Shares of Pandora closed at $19.19 yesterday.

Analyst Comments Analyst EPS Change Analyst EPS View Analyst PT Change

Pandora (P) Upgraded Amid the CarnageOctober 26, 2015 9:36 AM SunTrust Robinson Humphrey Cuts Price target Following Pandora's (P) 3Q Results October 23, 2015 9:57 AM Pandora (P) 3Q Hit by Apple (AAPL) Music Launch; FBR Capital Cuts Price Target to $10 October 23, 2015 9:38 AM BofA/Merrill Lynch Downgrades Pandora (P) to NeutralOctober 23, 2015 9:36 AM Albert Fried & Company Downgrades Pandora (P) to UnderweightOctober 23, 2015 8:14 AM Techs lead Wall St. higher; S&P 500 erases 2015 loss October 23, 2015 7:18 AM Piper Jaffray Downgrades Pandora (P) to NeutralOctober 23, 2015 7:07 AM Oppenheimer Downgrades Pandora (P) to PerformOctober 23, 2015 6:57 AM MKM Partners Downgrades Pandora (P) to NeutralOctober 23, 2015 6:56 AM Pacific Crest Downgrades Pandora (P) to Sector WeightOctober 23, 2015 6:56 AM RBC Capital Downgrades Pandora (P) to Sector PerformOctober 23, 2015 6:47 AM Pandora (P) Reports In-Line Q3 EPS, Q4 Revenue Guidance Comes in LightOctober 22, 2015 4:06 PM