![]() Lastly, behind-the-scenes disputes about JRE, including employee demands for direct editorial oversight – and threats of a strike if certain episodes aren’t edited or removed – could factor into SPOT’s future. The Nasdaq 100 Index is down 23 year to date (YTD), the ARK Innovation ETF is down 55, and many individual stocks are down as much as 75. For reference, the company’s Q2 2020 earnings analysis, which was published before JRE’s on-platform debut, showed that just 21 percent of Spotify’s monthly active users listened to at least one podcast. Technology stocks have been hammered so far in 2022. With the overarching vision (and hope) behind these offerings is to achieve (long-sought) profitability, the actual earnings associated with podcasts (and the portion of listeners who enjoy the programs) will be something to look for in the Q3 earnings report. On May 18th, the day before Spotify formally unveiled the JRE agreement, SPOT closed at $161.43 by June 18th, the figure had reached $225.28.Īdditionally, Spotify has nabbed other major podcasting contracts with Kim Kardashian West, Addison Rae, and WarnerMedia, to name some. The most noteworthy of these programs, The Joe Rogan Experience (JRE), cost the service a reported $100 million, but ushered in staggering gains. If the latter trend continued in the third quarter – and especially if new subscriptions fell off due to the pandemic – SPOT could move towards Bernstein’s target price.Īlso worth emphasizing is that Spotify’s unprecedented market ascent arrived largely in tandem with the announcement of multiple exclusive podcast deals. In Q2, the platform continued to add subscribers but lost advertising revenue and missed its earnings mark. And in terms of which way Spotify stock will trend – towards the $150 per share it touched at 2020’s opening or the record $300 or so it reached in July and September – several factors appear to be of particular significance.īeginning with the most obvious consideration, the company’s upcoming Q3 2020 earnings report will prove important. With the Stockholm-based company’s stock essentially striking a balance between the two numbers (including an approximate difference of $70 and $78 to RBC Capital Markets and Bernstein’s respective predictions), additional market implications will accompany the coming weeks’ price fluctuations. ![]() To be sure, RBC Capital Markets has set a SPOT target price of $320, on the high end, whereas Bernstein has adopted a bearish view and a $172 Spotify stock target price on the low end.
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