In the wake of both Neil Young and Joni Mitchell leaving Spotify, the audio streaming platform’s stock has plummeted about 25%, Loudwire has reported. Other outlets are reporting that “Spotify loses $4 billion in market value following Neil Young controversy.” And Apple Music and Tidal are joining the party, pointing fingers at Spotify.
Why does Spotify lose so much money?
Apr 28, 2021 · $140.42 The streaming platform cut its user growth target amid intensifying competition. What happened Shares of Spotify ( SPOT -3.01% ) fell 12% Wednesday after the streaming music and podcast...
Why Spotify stock price dropped?
May 20, 2021 · Spotify stock (SPOT) was worth $228.68 per share when the market closed today – an increase of 3.79 percent ($8.35) on the day. However, the Stockholm-based audio-entertainment platform, which ...
Is Spotify stock a good investment?
Apr 03, 2022 · Spotify Technology's stock was trading at $135.06 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, SPOT shares have increased by 4.6% and is now trading at $141.34.
Why is nobody talking about Spotify stock?
Jan 29, 2022 · In the wake of both Neil Young and Joni Mitchell leaving Spotify, the audio streaming platform’s stock has plummeted about 25%, Loudwire has reported. Other outlets are reporting that “Spotify ...
Is Spotify a good stock to buy now?
Spotify's stock looks cheap, but it could get cheaper Spotify grew its revenue 23% in 2021, and analysts expect 20% growth in 2022. Based on that forecast and its current price of $160 per share, Spotify trades at just 2.3 times its 2022 revenue.Feb 7, 2022
Why has Spotify tanked?
Spotify's shares were down by 12% the week after Neil Young requested his music be removed from the platform over COVID-19 vaccine misinformation, according to data from Nasdaq. The data showed a 12% drop on Friday, January 28 compared to the previous Friday.Jan 29, 2022
Did Spotify lost 4 billion?
Spotify lost $4 billion in market value this week after rock icon Neil Young called out the company for allowing comedian Joe Rogan to use its service to spread misinformation about the COVID vaccine on his popular podcast, “The Joe Rogan Experience.” At the end of the day Friday, Jan.Feb 1, 2022
Did Spotify lose money?
Spotify has indeed lost billions of dollars over the years, a streak that continued in 2021: For the full year, the company booked net losses of $38.8 million on $11 billion in revenue, according to its latest earnings report released yesterday.Feb 3, 2022
Is Spotify Technology a buy right now?
24 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Spotify Technology in the last year. There are currently 3 sell...
How has Spotify Technology's stock been impacted by COVID-19 (Coronavirus)?
Spotify Technology's stock was trading at $135.06 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World He...
Are investors shorting Spotify Technology?
Spotify Technology saw a increase in short interest in February. As of February 15th, there was short interest totaling 6,180,000 shares, an increa...
When is Spotify Technology's next earnings date?
Spotify Technology is scheduled to release its next quarterly earnings announcement on Wednesday, April 27th 2022. View our earnings forecast for...
How were Spotify Technology's earnings last quarter?
Spotify Technology S.A. (NYSE:SPOT) issued its earnings results on Wednesday, February, 2nd. The company reported ($0.24) earnings per share (EPS)...
What guidance has Spotify Technology issued on next quarter's earnings?
Spotify Technology issued an update on its first quarter 2022 earnings guidance on Monday, February, 21st. The company provided earnings per share...
What price target have analysts set for SPOT?
24 Wall Street analysts have issued 1 year price objectives for Spotify Technology's shares. Their forecasts range from $140.00 to $300.00. On aver...
Who are Spotify Technology's key executives?
Spotify Technology's management team includes the following people: Daniel Ek , Chairman & Chief Executive Officer Paul Aaron Vogel , Chief Fina...
What is Daniel Ek's approval rating as Spotify Technology's CEO?
343 employees have rated Spotify Technology CEO Daniel Ek on Glassdoor.com . Daniel Ek has an approval rating of 93% among Spotify Technology's em...
When will Spotify stock drop?
Predictably, multiple financial professionals and investors are speculating as to the precise source of the Spotify stock downturn, which has caused shares to dip to a level not seen since June of 2020.
How much is Spotify stock worth in 2021?
Spotify stock (SPOT) was worth $228.68 per share when the market closed today – an increase of 3.79 percent ($8.35) on the day.
How much did Spotify pay for JRE?
As an aside, Spotify reportedly paid $100 million for the rights to JRE and also hosts (undoubtedly expensive) podcasts from Michelle Obama as well as Barack Obama and Bruce Springsteen, to name some.
How many paid users does Spotify have in 2021?
Lastly, Spotify, after achieving material subscriber growth during 2020, noted in its Q1 2021 performance analysis that it had added just three million paid users – even after debuting in South Korea (population 52 million) without a free tier and expanding into a multitude of other nations yet.
Is SPOT worth it in 2020?
Plus, the figure remained flat from Q4 2020. Expanding upon the idea, SPOT, in spite of turning in noteworthy losses thus far in 2021, is still worth a full $36 or so more than it was on May 21st, 2020.
How much money does Spotify make?
How much money does Spotify Technology make? Spotify Technology has a market capitalization of $43.13 billion and generates $9.00 billion in revenue each year . The company earns $-663,680,000.00 in net income (profit) each year or ($3.54) on an earnings per share basis.
How much is Spotify's revenue in 2021?
Spotify Technology issued an update on its FY 2021 earnings guidance on Wednesday, May, 5th. The company provided earnings per share (EPS) guidance of - for the period. The company issued revenue guidance of $10.99 billion-$11.47 billion, compared to the consensus revenue estimate of $11.32 billion.
What does "hold" mean in stocks?
A hold rating indicates that analysts believe investors should maintain any existing positions they have in SPOT, but not buy additional shares or sell existing shares. View analyst ratings for Spotify Technology or view top-rated stocks.
Is Marketbeat better than Spotify?
What stocks does MarketBeat like better than Spotify Technology? Wall Street analysts have given Spotify Technology a "Hold" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains.
One single downgrade seems to be ruining a good day for the streaming service
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
What happened
Shares of music streamer Spotify Technology ( NYSE:SPOT) are following all the other tech stocks down on Tuesday. Its stock is off 5.1% as of 2:05 p.m. EST -- and maybe that's understandable. But it's still not right.
So what
On the one hand, sure, tech investors look spooked today by a sudden broad-based morning sell-off in tech stocks. And yes, it's also true that Spotify in particular got some bad news, when StreetInsider.com reported that analysts at Atlantic Equities have downgraded the stock to neutral.
Now what
Already, I think you'll agree that's at least two votes to one in Spotify's favor -- and all three analysts agree that the stock looks underpriced today.
What happened
Shares of streaming music and podcast company Spotify Technology (NYSE: SPOT) fell as much as 18.9% in early trading on Thursday after reporting fourth-quarter results. Shares were down 15.9% at 11:50 a.m. ET today and were bouncing near a 52-week low.
So what
Spotify reported a 24% increase in revenue in the quarter to $2.7 billion as total monthly active users jumped 18% to 406 million. The company reported a net loss of $39 million, or $0.21 per share. On an adjusted basis, the loss was $0.24 per share, which easily bettered the $0.48 loss that analysts expected.
Now what
Investors seem to be disappointed by the rate of growth Spotify is expecting and the fact that management is no longer giving full-year guidance. But looking at the company's trends, I still think this is a solid business.
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