Post a Free Blog

Submit A Press Release

Friday, March 29, 2024
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
-- Advertisement --spot_img
HomeBusinessSpotify IPO Goes To Wall Street - CWEB.com

Spotify IPO Goes To Wall Street – CWEB.com

 

spotify1

Spotify IPO Goes To Wall Street – CWEB.com

Spotify (NYSE:SPOT) opened for trading on the NYSE today at $165.90.

With 184 million shares outstanding, this implies an approximate market value of between $37-$41 billion, far higher than its last reported valuation of $19 billion.

MKM Partners has initiated the streaming-music giant at Buy and set a price target of $200 ahead of the start of NYSE trading Tuesday.

RBC initiated  an Outperform rating and $220 price target.

The new price target adds another data point to what could be volatile trading, as Spotify’s  (NYSE:SPOT)   doing a rare direct listing rather than a bank-led IPO that would feature an opening pricing.

Pandora is still the market leader in the U.S. for ad music streaming and still has more combined users in North America than any other music streaming app.

Pandora’s competitor, Spotify  (NYSE:SPOT)  , is growing revenues at a faster rate but its operating expenses are also growing.

Spotify  (NYSE:SPOT)  closed its first day of trading at $149.01, near the low of the day but still 12.8 percent higher than the IPO reference price.

Spotify  (NYSE:SPOT)   revenue rose by 39 percent in 2017 to 4.09 billion euros ($4.99 billion), but  losses more than doubled  to 1.24 billion euros.

Spotify  (NYSE:SPOT)  it’s still paying out two-thirds of revenue as royalties amid declining ARPU which investors should take into serious consideration.

CWEB Analyst’s have initiated a Sell Rating for  Spotify  (NYSE:SPOT)    

Read Full Article and Videos  CWEB.com – Trending News, Blog, Shopping

Chart
SPOT  data by  YCharts

Subscribe to get Latest News Updates

Latest News Articles

You may like more
more

Semtech Shares Jump 3 percent Following Q4 Results

Semtech (NASDAQ:SMTC) experienced a more than 3% increase in...

Target Stock Added to Fresh Money List at Deutsche Bank

Deutsche Bank analysts placed Target (NYSE:TGT) on the Fresh...

AMC Shares Plunge 14 percent on a New Equity Distribution Deal

AMC Entertainment Holdings (NYSE:AMC) saw its shares drop over...

Palantir Technologies Stock Drops 6 percent on Monness, Crespi, Hardt Downgrade

Palantir Technologies (NYSE:PLTR) stock plunged more than 6% on...