Spotify Technology S.A. (NYSE: SPOT) is currently trading at $291.77 as of April 3, 2024. The stock has shown strong performance with total returns of 8.06% in the past month, 55.25% in the past 3 months, and 113.84% in the past year.
Spotify stock closed up 8% on Wednesday after a report released by Bloomberg revealing that Spotify will increase prices for its premium subscription service in several markets, including the U.S.
According to Bloomberg the higher prices will help the company cover the costs of its audiobook service, which offers 15 hours of audiobook listening time per month for subscribers.
The stock has shown strong performance with total returns of 8.06% in the past month, 55.25% in the past 3 months, and 113.84% in the past year.
Analyst estimates suggest a mean target price of $267.76, with a high of $330.64 and a low of $163.65. The consensus recommendation score is 1.83333, indicating a bullish sentiment among analysts. In terms of financial metrics, revenue estimates show steady growth over the next few years, with estimates reaching €19.73B by 2026.
Earnings per share (EPS) estimates also demonstrate growth, with a mean estimate of €6.17 by 2026. Cash flow per share estimates are expected to increase, reaching €10.2 by 2026. Revenue per share has shown consistent growth over the years, with a total growth rate of 57.17% over three years and 117.89% over five years.
Operating cash flow per share has also seen significant growth, with a total growth rate of 98.15% over three years. The most recent data shows a value of €3.49 for the fiscal year ending 2023-12-31. Overall, the data indicates positive performance and growth prospects for Spotify shares, supported by strong financial metrics and analyst estimates.
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