Spotify(US:SPOT) ZACKSยท2024-10-09 22:55Group 1: Stock Performance - Spotify's stock closed at $373.98, reflecting a +0.97% change from the previous day, outperforming the S&P 500's gain of 0.71% [1] - Over the past month, Spotify's stock has increased by 13.27%, surpassing the Business Services sector's gain of 5.54% and the S&P 500's gain of 6.41% [1] Group 2: Upcoming Earnings - Spotify is expected to report an EPS of $1.79, indicating a significant increase of 397.22% from the same quarter last year [2] - Revenue is forecasted to reach $4.38 billion, representing a 19.83% increase compared to the year-ago quarter [2] Group 3: Fiscal Year Projections - For the entire fiscal year, earnings are projected at $6.24 per share, showing a change of +311.53% from the previous year [3] - Revenue for the fiscal year is estimated at $17.1 billion, reflecting a +19.36% change from the prior year [3] Group 4: Analyst Estimates and Rankings - Recent adjustments to analyst estimates for Spotify indicate a favorable outlook on the company's business health and profitability [3] - The Zacks Rank system currently rates Spotify at 4 (Sell), with the consensus EPS estimate moving 1.2% lower over the past month [5] Group 5: Valuation Metrics - Spotify's Forward P/E ratio stands at 59.39, which is a premium compared to the industry average Forward P/E of 24.25 [6] - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 82, placing it in the top 33% of all industries [6]