Spotify Technology S.A. ($SPOT) Stock Forecast: Down 1.2% Today

What is Spotify Technology S.A.?

SPOT (Spotify Technology SA) is a leading music streaming service that offers a wide range of content to its subscribers. In today's market, SPOT experienced a strong bearish movement.

Why is Spotify Technology S.A. going down?

SPOT stock is down 1.2% on Jul 11, 2024 14:38

• Despite being undervalued according to some analysts, SPOT faced a bearish market movement today.
• The long-term growth prospects and pricing power highlighted by a KeyBanc analyst did not seem to have an immediate positive impact on the stock.
• The downgrade by a Redburn Atlantic analyst might have contributed to the bearish sentiment surrounding SPOT.
• The bullish moves by financial giants in SPOT options did not translate into a positive market movement today, indicating a disconnect between market sentiment and options activity.

SPOT Price Chart

SPOT News

The 3 Most Undervalued Streaming Stocks to Buy in July 2024

In today’s entertainment landscape, streaming has emerged as the main way we consume media. From binge-worthy series to interactive video games and soothing music playlists, streaming platforms have revolutionized our access to content. As this trend continues to mature across various mediums, the streaming space continues to expand rapidly, driven by rising demand and competitive pricing, forming a favorable outlook for related stocks. For this article, I have selected three undervalued streaming stocks whose future prospects are likely not reflected in their current share prices. These companies operate in distinct niches within the streaming industry. From pioneering music streaming services to global leaders in original content production, each stock brings its own set of strengths.

https://investorplace.com/2024/07/the-3-most-undervalued-streaming-stocks-to-buy-in-july-2024/

Spotify''s Long-Term Growth and Pricing Power Set to Boost Revenue: Analyst

KeyBanc analyst Justin Patterson reiterated an Overweight rating on Spotify Technology SA (NYSE: SPOT ) with a price target of 410 , up from $400. Patterson updated his model and framed vital factors to watch ahead of the print. Given recent pricing changes, the analyst noted that the consensus may be too aggressive on third-quarter Premium Subscriber net adds. While Patterson is mindful that near-term net add guidance can weigh on the stock, he noted that this misses the bigger picture. The consensus appears too conservative on 2025 – 2026 revenue growth, gross margin, and operating margin, and valuation remains favorable for a consumer staple with pricing power, as per the analyst. The analyst raised his 2024, 2025, and 2026 revenue by ~1% annually. Also Read: Spotify Discontinues Car Thing Device, Shifts Focus to New User Features Patterson now expects 15.6 billion euros, 18.3 billion euros, and 20.9 billion euros, reflecting higher Premium revenue from pricing and plan … Full story available on Benzinga.

https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39716447/spotifys-long-term-growth-and-pricing-power-set-to-boost-revenue-analyst

This Visa Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday - Helen Of Troy ( NASDAQ:HELE ) , Glaukos ( NYSE:GKOS )

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page. Redburn Atlantic analyst Agnieszka Pustula downgraded the rating for Spotify Technology S.A.

https://www.benzinga.com/news/24/07/39708839/this-visa-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-wednesday

Market Whales and Their Recent Bets on SPOT Options - Spotify Technology ( NYSE:SPOT )

Financial giants have made a conspicuous bullish move on Spotify Technology. Our analysis of options history for Spotify Technology SPOT revealed 11 unusual trades. Delving into the details, we found 72% of traders were bullish, while 9% showed bearish tendencies.

https://www.benzinga.com/insights/options/24/07/39696604/market-whales-and-their-recent-bets-on-spot-options

Joe Rogan's First Comedy Special In 6 Years Will Be A Live Netflix Event

Joe Rogan Set For Live Netflix Comedy Special 'Burn the Boats' Forbes ...

https://www.forbes.com/sites/maryroeloffs/2024/07/09/joe-rogans-first-comedy-special-in-6-years-will-be-a-live-netflix-event/

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Spotify Technology S.A. Price History

11.06.2024 - SPOT Stock was down 1.2%

• Despite being undervalued according to some analysts, SPOT faced a bearish market movement today.
• The long-term growth prospects and pricing power highlighted by a KeyBanc analyst did not seem to have an immediate positive impact on the stock.
• The downgrade by a Redburn Atlantic analyst might have contributed to the bearish sentiment surrounding SPOT.
• The bullish moves by financial giants in SPOT options did not translate into a positive market movement today, indicating a disconnect between market sentiment and options activity.

11.06.2024 - SPOT Stock was down 1.8%

• The bearish movement in SPOT's stock price today could be attributed to profit-taking by investors after a period of strong growth.
• The highlight of undervalued streaming stocks may have shifted investor focus away from established players like Spotify, leading to a temporary dip in its stock price.
• Despite the bearish movement today, Spotify's position as a major player in the streaming industry remains strong, and any short-term fluctuations may present buying opportunities for long-term investors.

28.05.2024 - SPOT Stock was down 3.2%

• The bearish movement in Spotify's stock (SPOT) may be attributed to investors questioning the effectiveness of Wall Street analysts' overly optimistic recommendations, leading to doubts about the stock's value.
• Uncertainty surrounding the upcoming announcement of Spotify's second-quarter 2024 financial results has prompted some investors to sell off their positions in anticipation of potential disappointing results.
• Investor focus on Sirius XM's (SIRI) content expansion and its anticipated positive impact on subscriber revenues has potentially diverted attention away from Spotify, contributing to the bearish movement in SPOT's stock.

10.04.2024 - SPOT Stock was down 1.4%

• Spotify is facing legal challenges with Apple in the European Union, which could be contributing to the bearish market movement.
• A discussion on overhyped stocks to sell may have led to profit-taking in Spotify, as investors reassess the valuation of high-flying tech stocks.
• Despite being considered a top potential tech stock for future gains, Spotify's current legal battles and market conditions may have prompted investors to sell off shares, leading to the bearish movement.
• The overall sentiment in the market towards overvalued stocks and the potential impact of regulatory issues could have influenced the bearish trend in Spotify's stock price today.

26.03.2024 - SPOT Stock was up 6.4%

• Spotify's stock displayed a robust upsurge recently, potentially influenced by positive market sentiment and favorable analyst guidance post its impressive Q1 earnings performance.
• The firm disclosed revenue figures for the fiscal first quarter that surpassed predictions, presenting a noteworthy 20% year-over-year expansion and outperforming consensus estimates for revenue as well as EPS.
• Analysts have expressed admiration for Spotify's achievements, with J.P. Morgan lifting the price target while upholding an Overweight recommendation for the stock. The analysts emphasized the company's sturdy gross margin, efficient cost management, and the firm's confidence in attaining its medium-term financial objectives.
• Despite contending with challenges related to iOS updates and App Store policies, Spotify's overall financial robustness and growth potential appear to have eclipsed any minor setbacks, contributing to the bullish market activity.

25.03.2024 - SPOT Stock was up 6.4%

• The bullish movement in Spotify's stock today could be linked to its positive Q1 earnings performance, surpassing revenue expectations and beating consensus on EPS.
• Initially, Apple's rejection of Spotify's iOS app update for not meeting App Store rules may have caused some uncertainty, but this was overshadowed by the company's strong financial results.
• A positive sentiment from analysts, including an increased price target from J.P. Morgan and recognition of Spotify's solid financial position, likely bolstered investor confidence.
• Despite facing regulatory hurdles and competition in the streaming industry, Spotify's strong financial indicators and strategic positioning have impressed analysts and investors, fueling the stock's upward trajectory.

25.03.2024 - SPOT Stock was down 6.6%

• The rejection of Spotify's iOS update by Apple resulted in a decline in the company's stock. This issue may have impacted user experience and potential revenue streams.
• Despite surpassing revenue and EPS expectations in Q1, Spotify's stock experienced a drop in gains, possibly due to concerns regarding the effect of layoffs on production and operational efficiency.
• Analysts view Spotify's performance positively, highlighting the strength of gross margins and cost efficiencies as drivers of growth. However, market sentiment may have been influenced by uncertainties surrounding the company's strategic decisions and Apple-related challenges.

24.03.2024 - SPOT Stock was down 7.0%

• The bearish movement in SPOT stock today could be attributed to the acknowledgment by Spotify CEO Daniel Ek that the layoffs implemented in December caused more disruption than expected, affecting the company's day-to-day operations.
• Despite the positive earnings report, the challenges mentioned by the CEO regarding the layoffs may have raised concerns among investors about the company's future growth and operational efficiency.
• The overall bullish sentiment in the U.S. stock market, driven by a tech rally and solid corporate earnings, might have overshadowed Spotify's positive earnings, leading to a specific focus on the internal challenges faced by the company.
• Investors may be cautious about the impact of the layoffs on Spotify's ability to innovate and compete in the highly competitive tech and streaming industry, which could have contributed to the bearish movement in SPOT stock.

23.03.2024 - SPOT Stock was up 13.2%

• Spotify's fiscal first-quarter earnings exceeded both topand bottom-line forecasts, with record profits and a significant increase in operating income.
• The company's revenue growth of 20% year-on-year to $3.95 billion surpassed expectations, contributing to the bullish movement in SPOT stock.
• Spotify's implementation of cost-cutting initiatives and efficiency strategies, including multiple rounds of layoffs, further boosted investor confidence and stock performance.
• The market's positive reaction to Spotify's robust financial health and impressive Q1 results indicates strong investor sentiment and optimism towards the company's future prospects.

23.03.2024 - SPOT Stock was up 13.9%

• Spotify (SPOT) surpassed Q1 earnings and revenue estimates, achieving a quarterly earnings surprise of 66.67%.
• The stock experienced a rise of more than 14% following the company's outperformance of both topand bottom-line estimates, coupled with a 19.5% year-over-year revenue growth.
• The notable increase in Spotify's stock price can be attributed to a first-quarter profit, sales that exceeded expectations, and a significant boost in monthly active users.
• With Q1 gross profit exceeding 1 billion euros, investor response to Spotify's robust financial performance was favorable, leading to a 16% increase in the stock price.

23.03.2024 - SPOT Stock was up 15.6%

• Spotify's Q1 gross profit topped 1 billion euros, leading to a 16% rally in its shares.
• The company beat earnings per share (EPS) and revenue expectations for Q1 2024, with EPS at $1.05 and revenue at $3.95 billion.
• The strong quarterly performance, surpassing analyst estimates, drove investor confidence and contributed to the significant increase in the stock price.
• Spotify's record quarterly profit, despite a challenging year marked by layoffs and activist attention, showcased its resilience and ability to deliver strong financial results, further boosting investor sentiment.

23.03.2024 - SPOT Stock was up 11.2%

• Spotify (SPOT) experienced a bullish market movement, with shares surging by nearly 8% in early trading.
• The company's Q1 earnings exceeded expectations, with revenue growth of 20% year-on-year and gross profits reaching €1 billion.
• Despite falling short on Monthly Active Users (MAU) estimates due to reduced marketing spending, Spotify's focus on boosting profit margins was well-received by investors.
• The positive earnings report and investor optimism surrounding Spotify's growth potential contributed to the strong bullish movement in the stock.

19.03.2024 - SPOT Stock was down 5.2%

• Today's decline in SPOT's stock could be linked to Taylor Swift's recent exclusive partnership with TikTok for her latest album. Investors may be concerned about increased competition for Spotify in the music streaming sector.
• While Spotify's upcoming Q1 earnings report suggests a potential revenue growth, investor uncertainty remains regarding the impact of Taylor Swift's record-breaking streaming performance on other platforms.
• Furthermore, Duolingo hitting a significant technical milestone and Apple's removal of WhatsApp and Threads from the Chinese app store may have contributed to a general market sentiment that negatively affected SPOT's stock.