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Spotify (SPOT) Stock Sinks As Market Gains: What You Should Know
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Spotify (SPOT - Free Report) closed at $139.18 in the latest trading session, marking a -1.92% move from the prior day. This change lagged the S&P 500's daily gain of 0.37%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 0.34%.
Coming into today, shares of the music-streaming service operator had lost 3.38% in the past month. In that same time, the Business Services sector gained 3.7%, while the S&P 500 gained 1.83%.
Investors will be hoping for strength from SPOT as it approaches its next earnings release. The company is expected to report EPS of -$0.75, up 25.74% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.67 billion, up 46.5% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.97 per share and revenue of $7.58 billion. These totals would mark changes of -228.33% and +28.09%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for SPOT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 10.74% higher within the past month. SPOT currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Spotify (SPOT) Stock Sinks As Market Gains: What You Should Know
Spotify (SPOT - Free Report) closed at $139.18 in the latest trading session, marking a -1.92% move from the prior day. This change lagged the S&P 500's daily gain of 0.37%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 0.34%.
Coming into today, shares of the music-streaming service operator had lost 3.38% in the past month. In that same time, the Business Services sector gained 3.7%, while the S&P 500 gained 1.83%.
Investors will be hoping for strength from SPOT as it approaches its next earnings release. The company is expected to report EPS of -$0.75, up 25.74% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.67 billion, up 46.5% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.97 per share and revenue of $7.58 billion. These totals would mark changes of -228.33% and +28.09%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for SPOT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 10.74% higher within the past month. SPOT currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.