Shares of Spotify fell 8.59% to $267.75 at 11:49 EST on Wednesday, following last session’s downward trend. NYSE Composite is jumping 0.4% to $16,338.88, after three consecutive sessions in a row of gains. This seems, as yet, a somewhat positive trend trading session today.
Spotify’s last close was $292.92, 44.70% below its 52-week high of $387.44.
Spotify’s sales growth is 40.2% for the current quarter and 24.1% for the next. The company’s growth estimates for the current quarter is a negative 135% and positive 70.4% for the next.
Year-on-year quarterly revenue growth grew by 16.9%, now sitting on 7.88B for the twelve trailing months.
Spotify’s Stock Yearly Top and Bottom Value
Spotify’s stock is valued at $267.75 at 11:49 EST, way under its 52-week high of $387.44 and way higher than its 52-week low of $123.55.
Spotify’s Moving Average
Spotify’s value is below its 50-day moving average of $293.91 and below its 200-day moving average of $292.49.
Previous days news about Spotify
Spotify undercuts Apple with new ways for podcasts to make money. According to Bloomberg Quint on Tuesday, 27 April, "And it looks to make it easier for customers to find advertisers for their shows with a new ad marketplace called the Spotify Audience Network."
Spotify shares gain on plan to increase some of its prices. According to Bloomberg Quint on Monday, 26 April, "Investors are betting the price increases can give Spotify more of a cushion as it pursues dominance in the podcasting market. "
Spotify is increasing its prices – here's which plans are getting more expensive. According to Business Insider on Tuesday, 27 April, "In the US, Spotify is raising the price for a family subscription, which includes up to six users, to $15.99 from $14.99 per month, while prices for other plans such as Duo, Premium, and Student are unchanged.", "Later this year, subscribers in some markets will have access to Spotify HiFi, an upgrade to the sound quality of music that will allow users to "listen to their favorite songs the way artists intended," the music-streaming app said in a press release."
UBS chief touts Netflix, spotify in tech vision for banking. According to Bloomberg Quint on Tuesday, 27 April, "UBS Group AG’s Chief Executive Officer Ralph Hamers is slowly laying out his digital plans for the world’s largest wealth manager, taking inspiration from tech companies Netflix Inc. and Spotify Technology SA.", "Think about how you would interact with Netflix, think about how you interact with the Spotify service you use every day and you do it without even thinking about it and you get a recommendation that you actually think is relevant to you," Hamers said on a conference call on Tuesday. "
Spotify plans hiring spree in bid to challenge clubhouse. According to Bloomberg Quint on Monday, 26 April, "Just last month, Spotify announced it was buying Betty Labs, the owner of the Locker Room app, which sports journalists and fans use to discuss major games after they happen. ", "Unlike Facebookor Twitter, which don’t have much of an audio business at the moment, Spotify is already the top audio service."
More news about Spotify.