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Spotify (SPOT) Ascends While Market Falls: Some Facts to Note
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In the latest market close, Spotify (SPOT - Free Report) reached $480.11, with a +0.67% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.54%. On the other hand, the Dow registered a loss of 0.53%, and the technology-centric Nasdaq decreased by 0.66%.
The music-streaming service operator's stock has climbed by 2.04% in the past month, falling short of the Business Services sector's gain of 3.43% and outpacing the S&P 500's gain of 1.5%.
Investors will be eagerly watching for the performance of Spotify in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.01, indicating a 615.38% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.4 billion, up 11.24% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.02 per share and a revenue of $16.52 billion, representing changes of +304.07% and +15.31%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Spotify. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 3.51% fall in the Zacks Consensus EPS estimate. Spotify presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Spotify has a Forward P/E ratio of 79.24 right now. This indicates a premium in contrast to its industry's Forward P/E of 27.98.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Spotify (SPOT) Ascends While Market Falls: Some Facts to Note
In the latest market close, Spotify (SPOT - Free Report) reached $480.11, with a +0.67% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.54%. On the other hand, the Dow registered a loss of 0.53%, and the technology-centric Nasdaq decreased by 0.66%.
The music-streaming service operator's stock has climbed by 2.04% in the past month, falling short of the Business Services sector's gain of 3.43% and outpacing the S&P 500's gain of 1.5%.
Investors will be eagerly watching for the performance of Spotify in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.01, indicating a 615.38% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.4 billion, up 11.24% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.02 per share and a revenue of $16.52 billion, representing changes of +304.07% and +15.31%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Spotify. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 3.51% fall in the Zacks Consensus EPS estimate. Spotify presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Spotify has a Forward P/E ratio of 79.24 right now. This indicates a premium in contrast to its industry's Forward P/E of 27.98.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.