Spotify Stocks Down As Market Gains – What You Need To Know

2021-12-12T18:27:37

Spotify Stocks Down As Market Gains – What You Need To Know : In the last trading session, Spotify (SPOT) closed at $ 233.26, up 0.07% from the previous day.

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In the last trading session

In the last trading session, Spotify (SPOT) closed at $ 233.26, up 0.07% from the previous day.

That change was behind the daily gain of 0.96% on the SandP 500.

At the same time, the Dow gained 0.61% and the high-tech Nasdaq lost 0.04%.

Spotify will look to show strength as it nears its next release.

On that day, Spotify is expected to report earnings of $ 0.44 per share,
which would represent annual growth of 44.3%.

Revenue of $ 3,080 million, up 19.2% from the prior-year quarter.

Zack’s consensus estimates of

SPOT for the full year expect earnings of $ 1.32 per share and sales of $ 11.19 billion.

These results would represent annual fluctuations of + 62.71% and + 24.21%, respectively.

Investors may also note the recent changes in analyst estimates for Spotify.

The most recent revisions usually reflect the latest short-term business trends.

Therefore, we can interpret the 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 the closest team’s stock movements.

We developed the Zacks rank to take advantage of this phenomenon.

Our system takes these changes in estimates into account and offers a clear and actionable rating model.

The Zacks Rank system, which goes from # 1 (strong buy) to # 5 (strong sell),
has an impressive track record of superior outdoor performance,

holding the # 1 with an average annual return of + 25% since 1988.

For the past 30 days, our consensus EPS forecast has stagnated. Spotify currently has a Zacks rank of # 3 (Hold).

The Technology Services industry belongs to the Business Services Sector.

This industry currently has a Zacks industry rank of 172,
making it in the bottom 33% of the 250+ industries.

Zacks Industry Rank measures the strength of our industry groups by measuring the average Zacks rank of individual stocks within the groups.

Our studies show that the top rated industries with 50% outperform the lower half by a factor of 2 to 1.