Previous Close | 342.27 |
Open | 330.72 |
Bid | 318.31 x 900 |
Ask | 321.98 x 1000 |
Day's Range | 317.01 - 334.69 |
52 Week Range | 109.18 - 370.95 |
Volume | 2,351,973 |
Avg. Volume | 1,591,483 |
Market Cap | 60.633B |
Beta (5Y Monthly) | 1.64 |
PE Ratio (TTM) | N/A |
EPS (TTM) | -7.63 |
Earnings Date | Feb 03, 2021 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | 283.28 |
Spotify Technology SA (NYSE: SPOT) is a Swedish audio streaming and media services provider. Shares of the company have gained around 100% over the past 12 months. According to a bullish investment thesis by Investing Canon, SPOT would be “one of the most compelling growth stories of this decade.” Continued geographic expansion and increased market […]
The U.S. Justice Department's top antitrust official said on Friday the administration won't scrap decades-old agreements with music licensing groups ASCAP and BMI that hold down costs for Spotify and others. The department's review of the matter had been closely watched since scrapping the 1941 consent agreements could upend the business of licensing music to online companies like Spotify and Pandora as well as movie companies, commercials, bars and restaurants. Without the decrees, companies of any size seeking to play music would have to negotiate rights in a chaotic transition while also facing the prospect of price hikes, said the MIC Coalition, whose members include the Brewers Association and National Restaurant Association.
Spotify shares dropped Friday after Citi analysts downgraded the stock to sell from neutral on concern that the company's pivot to podcasts may not be working as well as investors hoped. The investment firm still values Spotify at €175 ($211.67) per premium subscription, but it is rolling that valuation forward to 2023 from 2022. "Among four subscription based stocks - Spotify, Roku, Netflix and SiriusXM - Spotify is the only firm where [Wall Street's] long-term forecasts (through 2023) do not comport to the prevailing valuation," Citi analyst Jason Bazinet said.