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Spotify (SPOT) Stock Moves -0.19%: What You Should Know
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In the latest market close, Spotify (SPOT - Free Report) reached $328.63, with a -0.19% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 0.3%. Meanwhile, the Dow experienced a drop of 0.54%, and the technology-dominated Nasdaq saw an increase of 0.25%.
The the stock of music-streaming service operator has risen by 1.83% in the past month, lagging the Business Services sector's gain of 5.74% and the S&P 500's gain of 3.42%.
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 $1.83, showcasing a 408.33% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $4.38 billion, showing a 19.83% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.37 per share and revenue of $17.1 billion, which would represent changes of +315.93% and +19.36%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Spotify. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Spotify presently features a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Spotify is presently being traded at a Forward P/E ratio of 51.66. Its industry sports an average Forward P/E of 22.64, so one might conclude that Spotify is trading at a premium comparatively.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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 -0.19%: What You Should Know
In the latest market close, Spotify (SPOT - Free Report) reached $328.63, with a -0.19% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 0.3%. Meanwhile, the Dow experienced a drop of 0.54%, and the technology-dominated Nasdaq saw an increase of 0.25%.
The the stock of music-streaming service operator has risen by 1.83% in the past month, lagging the Business Services sector's gain of 5.74% and the S&P 500's gain of 3.42%.
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 $1.83, showcasing a 408.33% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $4.38 billion, showing a 19.83% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.37 per share and revenue of $17.1 billion, which would represent changes of +315.93% and +19.36%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Spotify. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Spotify presently features a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Spotify is presently being traded at a Forward P/E ratio of 51.66. Its industry sports an average Forward P/E of 22.64, so one might conclude that Spotify is trading at a premium comparatively.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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.