We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Spotify (SPOT) Stock Jumps 5.1%: Will It Continue to Soar?
Read MoreHide Full Article
Spotify (SPOT - Free Report) shares rallied 5.1% in the last trading session to close at $159.99. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.5% gain over the past four weeks.
The price appreciation is likely to have been driven by the company’s increasing user base and growing number of subscribers. The company has grown significantly without spending heavily on marketing owing to a healthy conversion rate.
This music-streaming service operator is expected to post quarterly loss of $0.84 per share in its upcoming report, which represents a year-over-year change of +7.7%. Revenues are expected to be $3.52 billion, up 15.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Spotify, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SPOT going forward to see if this recent jump can turn into more strength down the road.
Spotify is a member of the Zacks Technology Services industry. One other stock in the same industry, Byrna Technologies Inc. (BYRN - Free Report) , finished the last trading session 4.7% lower at $4.68. BYRN has returned -9.2% over the past month.
Byrna Technologies Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of +40%. Byrna Technologies Inc. currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Spotify (SPOT) Stock Jumps 5.1%: Will It Continue to Soar?
Spotify (SPOT - Free Report) shares rallied 5.1% in the last trading session to close at $159.99. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.5% gain over the past four weeks.
The price appreciation is likely to have been driven by the company’s increasing user base and growing number of subscribers. The company has grown significantly without spending heavily on marketing owing to a healthy conversion rate.
This music-streaming service operator is expected to post quarterly loss of $0.84 per share in its upcoming report, which represents a year-over-year change of +7.7%. Revenues are expected to be $3.52 billion, up 15.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Spotify, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SPOT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Spotify is a member of the Zacks Technology Services industry. One other stock in the same industry, Byrna Technologies Inc. (BYRN - Free Report) , finished the last trading session 4.7% lower at $4.68. BYRN has returned -9.2% over the past month.
Byrna Technologies Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of +40%. Byrna Technologies Inc. currently boasts a Zacks Rank of #3 (Hold).