vurcampaign.blogg.se - Is spotify stock a buy

The average revenue per user rose by 6% to €4.38. Its premium revenue jumped by 23% to €2.37 billion while its advertising-supported business rose by 31% to €282 million. Spotify’s revenue rose by 24% to €2.66 billion in the first quarter. As a result, Spotify’s gross margin expanded to 25.2%. This number included about 1.5 million members that the company lost when it disconnected its Russian customers. The number of paying members rose by 15% to 182 million. In a statement on Wednesday, the company said that its monthly active users rose by 19% to 422 million. The sell-off continued after the recent Netflix stock price sell-off after the earnings. Spotify stock price has been in a strong bearish trend as investors worried about the company’s growth. The shares are about 63% below the highest level in 2021. SPOT rose by more than 3.25%, to $114, which was significantly higher than this week’s low of $105. SPOT stock is down 10.9% as of Wednesday morning.The Spotify ( NYSE: SPOT) stock price rebounded sharply on Wednesday even after the company’s earnings missed estimates. That has some 4 million shares on the move, as compared to its daily average trading volume of 2.5 million shares. Heavy trading follows the most recent SPOT stock earnings report today. He anticipated strong ad revenue and maintained a “buy” rating with a $240 per share price target.

Monness analyst Brian White weighed in on SPOT stock just before earnings.

This saw the firm maintaining its “underweight” rating and price target of $153 per share. They point to the company’s Q2 margin guidance as a reason for investors to worry.

Wells Fargo analysts weren’t quite as cheery.

Increasing ad revenue was another highlight.

It attributes this to many metrics coming in above guidance despite the exit from Russia. JPMorgan analysts believe the earnings report was good for the company.

Now that we have the basics, let’s check out what analysts have to say about SPOT stock today! Is SPOT Stock a Buy? On that same note, Premium Subscribers grew 15% from the same time last year to 182 million. In addition to all of this, Spotify saw monthly active users for the quarter increase by 19% year over year to 422 million.

It also represents a 24% increase year-over-year from 2.15 billion euros. Yet again, that comes in above analysts’ estimate of 2.62 billion euros for the quarter. It’s also a positive switch from the -25 cents per share reported during the same time last year.Īnother highlight from the earnings report is the company’s revenue of 2.66 billion euros. That’s a massive win for the company compared to Wall Street’s estimate of -24 cents per share for the period. That Spotify report includes diluted earnings per share of 21 cents.