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Spotify stock price forecast
Spotify stock price forecast











spotify stock price forecast spotify stock price forecast

Hoy stresses that this is an important step as the group aims to make ad revenue a larger part of its overall revenue stream, though ad-supported revenue fell from 15% of the total last quarter to 11%. The 0.4m new podcasts added to the platform during the period were likely part of the reason for subscriber growth beyond expectations, though other parts of the business are holding up as well.” “Despite calls to cancel Spotify ( SPOT) in the wake of controversial Joe Rogan episodes, the group saw podcast consumption rates grow in the double digits. Podcast consumption is on the rise and Spotify’s investing in new ways to capitalise on that. Laura Hoy, Equity Analyst at Hargreaves Lansdown wrote in a note: “ Spotify ’s presence in the podcast space is growing quickly, and that’s a good thing given it’s a higher-margin part of the business. Our most recent consensus estimate is calling for quarterly revenue of $3.06 billion, up 3.83% from the year-ago period.”īut Spotify’s podcast division could be its saving grace and help the stock to achieve a boost. “This would mark a year-over-year decline of 85.42%. In that report, analysts expect Spotify ( SPOT) to post earnings of -$0.89 per share,” analysts at Zacks wrote in a note. “Investors will be hoping for strength from Spotify ( SPOT) as it approaches its next earnings release. So, can Spotify ( SPOT) see a turnaround in its stock price? The average price target represents an increase of 60.14% from the last closing price of $95.39. The forecasts range from a low of $110.00 to a high of $240.00. With that said, according to Zacks Research, based on short-term price targets offered by 21 analysts, the average price target for Spotify ( SPOT) comes to $152.76(). The streaming services fortunes have changed and the group that was once synonymous for revolutionising the way we listen to music, is now trying to survive. The group's share price has also taken a bit of nose-dive this year and is down 59%. All Rights Reserved.US30 US Wall Street 30 (USA 30, Dow Jones) All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC.

spotify stock price forecast

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Spotify stock price forecast