Can Spotify Q2 Earnings Tune Out Bearish Signals For A Bullish Upside?
Portfolio Pulse from Surbhi Jain
Spotify Technology SA (NYSE:SPOT) is set to report its Q2 earnings with Wall Street expecting $1.18 EPS and $4.1 billion in revenues. Despite a 79% increase over the past year, the stock is currently in a bearish trend, trading below key moving averages. Analysts maintain a Buy rating with a price target of $311.87, focusing on the impact of recent U.S. price increases and audiobook engagement.
July 22, 2024 | 7:57 pm
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Spotify is set to report Q2 earnings with expectations of $1.18 EPS and $4.1 billion in revenues. The stock is currently in a bearish trend, trading below key moving averages. Analysts maintain a Buy rating with a price target of $311.87, focusing on the impact of recent U.S. price increases and audiobook engagement.
The stock is currently in a bearish trend, trading below key moving averages, which suggests a cautious short-term outlook. However, the consensus analyst rating remains a Buy with a significant upside potential, indicating mixed signals for investors.
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