24/7 Wall St.

Pandora Media, Inc. (NYSE: P) is scheduled to release its most recent quarterly results after markets close on Monday. The consensus estimates from Thomson Reuters are calling for a net loss of $0.34 per share and $318.15 million in revenue. The first-quarter from last year had a net loss of $0.20 per share and $297.31 million in revenue.

Excluding Monday’s move before earnings, the stock has vastly underperformed the broad markets with shares down 18% year to date. However, over the past 52-weeks, the stock is actually up 14%.

The company made significant progress in 2016 by driving leverage in its core business while growing subscriptions to its paid product. Although CEO Tim Westergren has said that the company entered 2017 laser-focused on the growth of its ad-supported business, the launch and growth of its subscription products, and an artist-to-fan platform to drive listener engagement and ticket sales, there is still a long road to recovery. The last earnings report did not help that much either.

During the quarter, Pandora launched its premier on-demand streaming service, Pandora Premium. The new service will cost $9.99 a month, after a free trial period for selected listeners. The company is entering a crowded field. When Pandora released this service, privately held Spotify announced total paid subscribers had reached 50 million and Apple claimed 20 million paid subscribers to its Apple Music service. At the end of last year, Pandora reported 4.4 million paid subscribers for its Pandora Plus service and a total ad-supported (free) user base of 81 million.

A few analysts weighed in on Pandora ahead of the earnings report:

• Stifel reiterated a Buy rating with a $15 price target.
• BMO Capital Markets reiterated a Hold rating with a $13 price target.
• Canaccord Genuity reiterated a Buy rating with an $18 price target.
• Piper Jaffray reiterated an Overweight rating with an $18 price target.
• Wells Fargo reiterated a Hold rating.
• Wedbush reiterated an Outperform rating with a $15 price target.

Shares of Pandora were last trading down 1.4% at $10.53, with a consensus analyst price target of $14.71 and a 52-week trading range of $9.34 to $14.98.