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Spotify (SPOT) Stock Moves -0.56%: What You Should Know
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The most recent trading session ended with Spotify (SPOT - Free Report) standing at $337.56, reflecting a -0.56% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.6%. On the other hand, the Dow registered a loss of 0.39%, and the technology-centric Nasdaq decreased by 1.12%.
Shares of the music-streaming service operator have appreciated by 2.76% over the course of the past month, underperforming the Business Services sector's gain of 3.16% and the S&P 500's gain of 3.15%.
The investment community will be paying close attention to the earnings performance of Spotify in its upcoming release. The company is forecasted to report an EPS of $1.82, showcasing a 405.56% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $4.38 billion, up 19.83% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.32 per share and a revenue of $17.1 billion, indicating changes of +314.24% and +19.36%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Spotify. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Spotify is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Spotify is presently trading at a Forward P/E ratio of 53.74. This denotes a premium relative to the industry's average Forward P/E of 22.74.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SPOT in the coming trading sessions, be sure to utilize Zacks.com.
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Spotify (SPOT) Stock Moves -0.56%: What You Should Know
The most recent trading session ended with Spotify (SPOT - Free Report) standing at $337.56, reflecting a -0.56% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.6%. On the other hand, the Dow registered a loss of 0.39%, and the technology-centric Nasdaq decreased by 1.12%.
Shares of the music-streaming service operator have appreciated by 2.76% over the course of the past month, underperforming the Business Services sector's gain of 3.16% and the S&P 500's gain of 3.15%.
The investment community will be paying close attention to the earnings performance of Spotify in its upcoming release. The company is forecasted to report an EPS of $1.82, showcasing a 405.56% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $4.38 billion, up 19.83% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.32 per share and a revenue of $17.1 billion, indicating changes of +314.24% and +19.36%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Spotify. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Spotify is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Spotify is presently trading at a Forward P/E ratio of 53.74. This denotes a premium relative to the industry's average Forward P/E of 22.74.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SPOT in the coming trading sessions, be sure to utilize Zacks.com.