Investors can capitalize on this by using the Zacks Rank. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. Recent revisions tend to reflect the latest near-term business trends. Investors should also note any recent changes to analyst estimates for SPOT. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.53 billion, up 23.17% from the year-ago period. The company is expected to report EPS of -$0.82, up 34.92% from the prior-year quarter. SPOT will be looking to display strength as it nears its next earnings release, which is expected to be February 3, 2021. In that same time, the Business Services sector gained 2.91%, while the S&P 500 gained 3.84%. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.28%.Ĭoming into today, shares of the music-streaming service operator had gained 7.41% in the past month. This change outpaced the S&P 500's 0.04% gain on the day. Spotify (SPOT) closed the most recent trading day at $347.01, moving +0.85% from the previous trading session.
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