Media coverage about Spotify (NASDAQ:SPOT) has trended somewhat positive this week, Accern reports. The research firm rates the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Spotify earned a daily sentiment score of 0.11 on Accern’s scale. Accern also assigned media stories about the company an impact score of 46.0991048953473 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the news articles that may have impacted Accern’s analysis:
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Spotify Ordered to Pay $112 Million in a Groundbreaking Class Action Suit (dancemusicnw.com) Spotify-Enabled MP3 Player Selling For A Discount (pymnts.com) “CBS This Morning” Spotify Playlist: May 28, 2018 (cbsnews.com) Spotify Might Put XXXTentacion Back On Playlists, Reportedly Thanks To Kendrick Lamar (junkee.com) DEF LEPPARD Records Two-Song Session For SPOTIFY (blabbermouth.net)
Spotify traded up $2.01, reaching $156.60, during midday trading on Monday, Marketbeat Ratings reports. 1,288,458 shares of the company’s stock traded hands, compared to its average volume of 3,099,208. Spotify has a fifty-two week low of $135.51 and a fifty-two week high of $171.23.
Spotify (NASDAQ:SPOT) last announced its quarterly earnings results on Wednesday, May 2nd. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.68). The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. The business’s revenue was down .9% compared to the same quarter last year.
Several equities research analysts recently issued reports on the stock. SunTrust Banks assumed coverage on shares of Spotify in a research report on Wednesday, May 2nd. They issued a “buy” rating and a $200.00 target price on the stock. Buckingham Research assumed coverage on shares of Spotify in a research report on Monday, April 30th. They issued a “neutral” rating and a $175.00 target price on the stock. Evercore ISI assumed coverage on shares of Spotify in a research report on Monday, April 30th. They issued an “outperform” rating and a $190.00 target price on the stock. Bank of America assumed coverage on shares of Spotify in a research report on Monday, April 30th. They issued a “buy” rating and a $195.00 target price on the stock. Finally, UBS assumed coverage on shares of Spotify in a research report on Monday, April 30th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $179.22.
Spotify Company Profile
Spotify Technology SA is an innovative digital music service offering music fans instant access to a world of music. The company enables on-demand streaming of audio content and aim to combat music piracy by offering a user experience, while monetizing licensed content with both an ad-supported, free-to-the-user model and a premium, paid model.