Spotify (SPOT) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.Analysts' growing optimism on the earnings prospects of this music-streaming service operator is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in ear ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about Spotify (SPOT) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Spotify currently has an average brokerage recommendation (ABR) ...

Spotify (SPOT) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this music-streaming service operator have returned +9.7%, compared to the Zacks S&P 500 composite's -2% change. During this period, the Zacks Technology Services industry, which Spotify falls in, has lost 5.6%. The key question now is: What could be the stock's future direction?While m ...

At the right price, I'd buy Spotify stock.Spotify Technology (SPOT 0.20%) reported terrific earnings, growing its revenue 20% year over year, posting its third straight quarter of positive operating profits, and returning to net profitability as well. The company also added 3 million paying subscribers during the quarter, or roughly 1 million per month.Responding to the news, Benchmark analyst Matthew Harrigan on Wednesday added $50 to his price target, valuing the stock at $375 a share -- and Spotify's gro ...

No analyst on Wall Street loves Spotify stock more than Deutsche Bank. But is the banker right to call Spotify a buy?Spotify Technology (SPOT 0.20%) reported terrific earnings last week, growing paying subscribers 14%, monthly active users 19%, and revenue 20% year over year. Spotify even flipped from a year-ago loss to a $1.05-per-share profit in the first quarter of 2024.On Wednesday, Deutsche Bank urged investors to buy Spotify stock, and gave Spotify the highest price target of any analyst on Wall Stree ...

Sure, the music and podcast streamer is showing great growth -- but is the stock overpriced?Spotify Technology (SPOT -0.20%) investors had a terrific Tuesday, when a powerful first-quarter report helped to push the stock up 11%.It didn't last.On Wednesday, shares of the streaming music company slid by more than 7%, giving back more than half the gains they had gotten out of that upbeat earnings report. However, there's good news, too. According to Canaccord Genuity analyst Maria Ripps, Spotify stock is like ...

Spotify made some tough decisions after its stock collapsed in 2022, but they're starting to pay off.Spotify (SPOT 2.77%) is the world's largest music-streaming platform. It holds a 31% market share, according to Statista, with Tencent sitting in a distant second place at 14%. The stock peaked near $364 in 2021 before collapsing 80% to trade as low as $71 during the tech crash in 2022. It was a reality check for Spotify (and a number of other tech companies), and it prompted a sharp change in strategy. The ...

Spotify Presents An Evening With Trevor Noah, Celebrating 'What Now? October 18, 2023 in New York ... [+] City. (Photo by Craig Barritt/Getty Images for Spotify)Getty Images for SpotifyThis week, Spotify beat first-quarter earnings and revenue estimates returning the 18-year-old company to profitably. Following mass layoffs in 2023 and increased service prices, the audio giant reported 3.6 billion euros ($3.9 billion) in first-quarter revenue and a gross profit of 1 billion euros ($1.08 billion). Immediatel ...

Key PointsSpotify's earnings show a sticky customer base, choosing to pay for Premium despite high inflation. Being a contrarian bet, Wall Street thinks the company's newfound profitability is only the beginning of a new trend.Market valuations, EPS projections, and even price targets all point to this stock being a sector favorite.5 stocks we like better than Morgan StanleyEven a year of uncertainty and higher-than-average inflation rates posed no match for the U.S. consumer. Shares of Spotify Technology N ...