SPOT Stock Recent News

The latest trading day saw Spotify (SPOT) settling at $574.25, representing a +1.99% change from its previous close.

Spotify (SPOT) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

SPOT has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

In what feels like an increasingly common occurrence, a widespread Spotify outage on April 16 left millions of users without access to the popular music streaming platform, swiftly triggering rumours of a major ‘security hack.'

The positive momentum appears connected to the growing recognition of Spotify's evolving content strategy, which increasingly emphasizes diversification beyond its foundational music subscription business.

Given SPOT's price rise, we analyze its current position to find out whether investors should buy, hold, or book profits.

Spotify says it has fixed an issue that caused tens of thousands of users to complain of an outage Wednesday morning, according to reports filed on DownDetector.com, which had prompted social media users to cope with memes and panicked comments.

Spotify's stock has surged 85.1% since my initial “cautious buy” rating, driven by better-than-expected company improvements and strong execution. Despite impressive growth, the reduced margin of safety now requires greater optimism for a favorable valuation, prompting a downgrade to “cautious hold”. Spotify has achieved significant milestones, including a +30% gross margin and +670 million MAUs, through strategic initiatives and cost management.

The music streaming service is still suffering issues that are making features unavailable to some.

Spotify was down Wednesday, with about 50,000 reports of an outage on DownDetector. The company said it was working on a fix but did not provide details about the scope of the outage.