Spotify (SPOT) Stock Sinks As Market Gains: What You Should Know

Spotify (SPOT) Stock Sinks As Market Gains: What You Should Know
This story originally appeared on Zacks

In the latest trading session, Spotify (SPOT) closed at $233.26, marking a -0.07% move from the previous day. This change lagged the S&P 500’s 0.96% gain on the day. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq lost 0.04%.

Spotify (SPOT) Stock Sinks As Market Gains: What You Should Know – Zacks

Prior to today’s trading, shares of the music-streaming service operator had lost 15.63% over the past month. This has lagged the Business Services sector’s loss of 5.01% and the S&P 500’s loss of 0.21% in that time.

Spotify will be looking to display strength as it nears its next earnings release. On that day, Spotify is projected to report earnings of -$0.44 per share, which would represent year-over-year growth of 44.3%. Meanwhile, our latest consensus estimate is calling for revenue of $3.08 billion, up 19.2% from the prior-year quarter.

SPOT’s full-year Zacks…

Continue reading