That suggests Spotify could be a more recession-resistant business than market participants realize. The music streamer posted solid growth in monthly active users and revenue. But even with the economic headwinds, Spotify stock jumped following its Q2 earnings report in July. Its ad-supported streaming plan is used by more than half of monthly active users. When the economy is weak, it hits certain sectors, including one that Spotify relies on - advertising. Jefferies considered that Spotify was growing into a indispensable service and that he stock price will soon catch up to that reality. posted its second consecutive quarter of GDP decline. Spotify’s share price surged by 8 on Friday after an analyst at Jefferies wrote an upbeat note on the stock, a buy rating and a price target of 360 representing a 27 upside. This has gotten more attention recently after the U.S. In 2020, shares of the company more than doubled in value on investor. It is often associated with a period of weakness in gross domestic production (GDP). Spotify’s stock price closed down 6.6 Friday, to 319.82 per share, outpacing smaller declines in the broader market. But with the stock price down 50% year to date, investors are probably wondering how resilient Spotify's business could be amid a slowing economy. The term "recession" is popping up a lot lately. Streaming is gaining real traction in the entertainment industry, so Spotify seems like a good bet. Price (USD) 86.30 Todays Change -0.540 / -0.62 Shares traded 1.86m 1 Year change -62.37 Beta 1.8216 Data delayed at least 15 minutes, as of 21:10 BST. Their SPOT share price forecasts range from 110.00 to 300.00. The analyst firm set a price target for 112.00 expecting SPOT to rise to. 25 brokerages have issued twelve-month price objectives for Spotify Technologys stock. However, SPOT posted a win on revenue, coming in at 2.91 billion against 2.85 billion. The company posted a loss of 0.86 per share, which stacked up poorly against Street projections calling for a loss of 0.72 per share. Many investors likely own shares of Spotify Technology (NYSE: SPOT) because they're familiar with its service. The latest price target for Spotify Technology ( NYSE: SPOT) was reported by Rosenblatt on Wednesday, September 7, 2022. Spotify’s earnings report was somewhat of a mixed bag.
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