Streetbeat News

SPOT

Spotify Technology S.A.

https://www.spotify.com

Industry

Internet Content & Information

Spotify Technology S.A., together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its subscribers on their computers, tablets, and compatible mobile devices. The company also offers sales, marketing, contract research and development, and customer support services. As of December 31, 2021, its platform included 406 million monthly active users and 180 million premium subscribers in 184 countries and territories. The company was incorporated in 2006 and is based in Luxembourg, Luxembourg.

Open

474.00

Mkt cap

90B

Volume

High

474.00

P/E Ratio

191.77

52-wk high

489.69

Low

457.59

Div yield

N/A

52-wk low

174.67

Macquarie analyst Tim Nollen maintains an Outperform rating on Spotify Technology (NYSE:SPOT) and raises the price target from $345 to $395.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 9:12 pm

Spotify's Q2 2024 results showed strong margin gains, record free cash flow, and robust subscriber growth, leading JP Morgan analyst Doug Anmuth to maintain an Overweight rating. Despite missing revenue estimates, Spotify's EPS beat expectations, and its guidance for Q3 gross margin and operating income exceeded consensus. Shares closed 12% higher.

Portfolio Pulse from Anusuya Lahiri

July 23, 2024 | 8:34 pm

On Tuesday, small-cap stocks outperformed large caps as investors awaited key earnings reports from Alphabet and Tesla. The Russell 2000 index rose 0.8%, while the Nasdaq 100 dipped 0.2%. United Parcel Service (UPS) plunged 14% after missing earnings and revenue estimates. Bitcoin dropped over 2% to $65,800.

Portfolio Pulse from Piero Cingari

July 23, 2024 | 5:53 pm

Comcast Corporation (NASDAQ:CMCSA) shares fell 6.1% after reporting worse-than-expected Q2 sales results. Other notable stock movements include Azitra, Inc. (NYSE:AZTR) jumping 529% due to a new patent, and Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) rising 148% after advancing a study. General Motors Company (NYSE:GM) fell 6.1% after delaying EV projects.

Portfolio Pulse from Avi Kapoor

July 23, 2024 | 5:21 pm

The market summary highlights the launch of Ether ETFs, a strong earnings report from Spotify leading to a jump in its stock price, and a weak earnings report from UPS causing a drop in its stock price.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 4:14 pm

Danaher Corporation (DHR) reported better-than-expected Q2 earnings, leading to a 7.4% rise in its stock price. Other notable gainers include Kiniksa Pharmaceuticals (KNSA), Spotify (SPOT), MSCI (MSCI), and Owens & Minor (OMI), among others, all of which saw significant stock price increases following positive earnings reports or guidance updates.

Portfolio Pulse from Avi Kapoor

July 23, 2024 | 3:04 pm

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 1:17 pm

Spotify Technology (SPOT) reported strong Q2 earnings, beating analysts' expectations and showing growth in monthly active users and premium subscribers. This positive performance led to a pre-market surge in SPOT stock. The MUSQ Global Music Industry ETF (MUSQ), which includes SPOT as a top holding, may benefit from this performance. Other key holdings in MUSQ include Alphabet (GOOG), Tencent Music Entertainment Group (TME), and Live Nation Entertainment (LYV).

Portfolio Pulse from Joshenomoto@benzinga.com

July 23, 2024 | 11:50 am

US stock futures are relatively unchanged as traders await Q2 earnings reports from Alphabet and Tesla. The market is cautious due to uncertainties in geopolitics, monetary policy, and upcoming economic data. Notable premarket movements include Agilysys, NXP Semiconductors, and Medpace Holdings, which saw declines following earnings reports. Coca-Cola, General Motors, and Spotify are among the companies reporting earnings today.

Portfolio Pulse from Shanthi Rexaline

July 23, 2024 | 11:36 am

Spotify Technology SA (NYSE:SPOT) reported a 20% year-on-year revenue growth for Q2 2024, reaching $4.099 billion, though it missed the analyst consensus estimate of $4.170 billion. EPS of $1.43 beat the estimate of $1.15. Premium revenue grew 21% year-over-year, driven by subscriber additions and ARPU increases. Total MAUs rose 14% to 626 million, with Premium subscribers at 246 million. Gross margin improved to 29.2%, and the company held 5.4 billion euros in cash. Spotify expects Q3 revenue of $4.31 billion, below the consensus of $4.37 billion. SPOT shares traded higher by 13.10% premarket.

Portfolio Pulse from Anusuya Lahiri

July 23, 2024 | 11:24 am

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