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As of April 26, 2023, Spotify Technology (NYSE:SPOT) has a Buy rating from Benchmark analyst Mark Zgutowicz. Zgutowicz has raised his stock price target from $150 to $160. This indicates that we believe the stock is undervalued and has growth potential. Morgan Stanley analyst Benjamin Swinburne also maintains a buy rating with his $160 price target on Spotify. However, Goldman Sachs chose to keep its rating on the streaming service.
Spotify Technology is a popular audio streaming subscription service based in Luxembourg, currently serving over 320 million users in 92 different markets. The company generates revenue from premium and ad-supported segments. The premium segment offers subscribers ad-free music and podcasts, while the ad-supported segment offers free music and podcasts with ads. Additionally, the company offers a range of services including sales, marketing, contract research and development, and customer support.
On April 24, 2023, Deutsche Bank set a price target for Spotify technology at $155. Please note that the financial information and statistics displayed on the Website may not always be accurate, complete or up-to-date.
2023 SPOT Stock Performance and Growth Outlook: Positive Outlook
SPOT shares on April 26, 2023 opened at 139.26, slightly higher than the previous day’s close of 138.20. Over the course of the day, the stock experienced a wide range, with a low of 135.02 and a high of 140.00. Volume was 1,202,509, below the three-month average of 1,897,428. SPOT had a market cap of $25.8 billion.
Last year SPOT’s revenue growth was -1,014.85%, but this year it turned around with +32.65% growth. The next five years are expected to see even more significant growth, with revenue growth projected at +150.24%. The company posted revenue growth of +7.85% last year.
SPOT’s P/E ratio is not available. This is probably because the company is currently not profitable. However, the price/sales ratio is 1.25 and the price/book ratio is 10.06, indicating that investors are willing to pay a premium for shares in his SPOT. Today, SPOT’s stock outperformed its peers, such as SNAP and TW, whose stocks have fallen.
SPOT’s next reporting date is July 26, 2023, and its EPS forecast for the quarter is -$0.63. SPOT’s net profit margin is -3.67%.
Overall, SPOT’s share price performance on April 26, 2023 was positive, opening slightly higher than the previous day’s close and experiencing a wide range throughout the day. The company’s growth prospects are promising, with earnings projected to grow +150.24% over the next five years. Although SPOT is not currently profitable, its large market cap and earnings make it a notable player in the Internet software/services industry.
Investment analyst recommends buying Spotify Technology SA shares amid optimism about future prospects
On April 26, 2023, Spotify Technology SA stock price (SPOT) closed at $135.44. However, analysts say the median price target is $157.43, with a high of $184.92 and a low of $91.69. The current consensus among investment analysts is to buy a stake in Spotify Technology SA, indicating optimism about the company’s future prospects. The company is expected to report earnings for the current quarter on July 26, 2023, with estimated earnings per share of -$0.63 and sales of $3.2 billion. Investors believe Spotify Technology SA may recover in the long term.
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