Gain detailed insights into the trading activity of Congress members for Spotify Technology on our government trades page. Stay updated on how elected officials are investing in SPOT.

Spotify Technology - Government Trades

Spotify Technology

Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.

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For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Spotify (NYSE: SPOT) one of those stocks right now?

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Whales with a lot of money to spend have taken a noticeably bearish stance on Spotify Technology.
Looking at options history for Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) we detected 18 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $933,216 and 10, calls, for a total amount of $594,848.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $280.0 to $420.0 for Spotify Technology over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Spotify Technology options trades today is 563.69 with a total volume of 1,199.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Spotify Technology's big money trades within a strike price range of $280.0 to $420.0 over the last 30 days.
<h3>Spotify Technology Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719605785_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$43.55</td>
<td>$40.3</td>
<td>$40.6</td>
<td>$280.00</td>
<td>$609.0K</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$25.5</td>
<td>$25.45</td>
<td>$25.5</td>
<td>$350.00</td>
<td>$106.9K</td>
<td style="text-align: right;">162</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$29.5</td>
<td>$29.35</td>
<td>$29.35</td>
<td>$300.00</td>
<td>$85.1K</td>
<td style="text-align: right;">411</td>
<td style="text-align: right;">4</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$14.05</td>
<td>$13.75</td>
<td>$13.63</td>
<td>$300.00</td>
<td>$72.7K</td>
<td style="text-align: right;">552</td>
<td style="text-align: right;">21</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/02/24</td>
<td>$14.3</td>
<td>$12.45</td>
<td>$12.45</td>
<td>$325.00</td>
<td>$71.1K</td>
<td style="text-align: right;">286</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About Spotify Technology</h3>
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.
Having examined the options trading patterns of Spotify Technology, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Spotify Technology</h3>
<ul>
<li>Trading volume stands at 4,199,183, with SPOT's price down by -0.5%, positioned at $313.79.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 25 days.</li>
</ul>
<h3>Professional Analyst Ratings for Spotify Technology</h3>
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $385.5.
<ul>
<li>Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Spotify Technology, targeting a price of $375. </li>
<li>Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Spotify Technology with a target price of $396. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Spotify Technology with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Spotify Technology Options Trading: A Deep Dive into Market Sentiment

Sirius XM (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/siri#NASDAQ">SIRI</a>) has been constantly investing to expand its content. This constant expansion of content is expected to aid top-line growth in the upcoming quarters. 
The Zacks Consensus Estimate for SIRI&#39;s 2024 subscriber revenues is pegged at $6.96 billion, indicating year-over-year growth of 1.44%. 
The company recently announced a content expansion with a new show, The Andy Richter Call-In Show, where Andy Richter will take calls directly from fans. Richter, known for his three decades on late-night television, will bring his favorite after-hours dinner party chats to the show, inviting listeners to participate. 
Joined by comedians and friends, such as Sona Movsesian, Andy Daly, Nicole Byer and Laurie Kilmartin, Richter will share entertaining stories and field calls, creating a lively and interactive experience for his audience. 
Other recently released content includes The Optimist Project with Yara Shahidi, Mediaite&#39;s Press Club hosted by Aidan McLaughlin, The Road to Cooperstown featuring Hall of Fame stories and Off Topic with Yamaneika hosted by comedian Yamaneika Saunders. 
Each show offers unique content ranging from inspiring conversations and political insights to sports history and pop culture commentary.
<div class="chart_embed">
<h3>Sirius XM Holdings Inc. Price and Consensus</h3>
<img alt="Sirius XM Holdings Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/89/1719477591.png" style="height:288px; width:620px" title="" />
Sirius XM Holdings Inc. price-consensus-chart | Sirius XM Holdings Inc. Quote
</div>
<h3>SIRI Faces Tough Competition in the Audio Streaming Market</h3>
These recent initiatives have strengthened the company&#39;s unique content offerings. However, tough competition in the audio streaming markets from giants like Spotify Technology (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>), Apple (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) music and Amazon.com&nbsp;music is a concern. 
Spotify leads with 44.4 million paid subscribers, followed by Apple Music with 32.6 million and Amazon Music with 29.3 million. SiriusXM has a total subscriber base of 31.9 million, according to a report by Music Business Worldwide. 
The audio streaming market is seeing intense competition as major players leverage AI and innovative technologies to enhance user experiences. Spotify, known for its machine learning-driven features like Discover Weekly, has introduced AI Playlist, which offers users more control over their listening experience. 
Apple is strengthening its presence with the acquisition of Shazam and Asaii and integration of AR into its music service. AAPL is also developing &quot;smart song transitions&quot; for Apple Music to improve the crossfade functionality, aiming to make song transitions seamless and unnoticed. 
Amazon Music is also stepping up its game with the introduction of Maestro, an AI playlist generator designed to simplify and enhance playlist creation. This feature, currently in beta for a limited number of U.S. customers, aims to make playlists more intuitive and enjoyable. 
Shares of this Zacks Rank #3 (Hold) company have plunged 50.6% year to date compared with the Zacks Consumer Discretionary sector&#39;s decline of 1%. The stock has also underperformed SPOT, which has gained 69.7%, followed by AMZN&#39;s growth of 27.4% and AAPL&#39;s rise of 10.8% in the same time frame.
<h3>Conclusion</h3>
SIRI&#39;s strong expanding content offerings and partnerships bode well with its long-term prospects. However, strong competition remains a major concern for the company. 
Its expanded podcast efforts fit well with the existing advertising-led focus at Pandora and AdsWizz and are expected to improve monetization in the near term. 
Advertisement revenues (18.6% of the total revenues) rose 7.2% year over year to $402 million in the first quarter. The Zacks Consensus Estimate for second-quarter advertising revenues is pegged at $457.94 million, indicating year-over-year growth of 13.9%. 
The Zacks Consensus Estimate for SIRI&#39;s second-quarter loss per share is pegged at 8 cents, which has increased a cent in the past 60 days. The consensus mark for 2024 earnings is pegged at 31 cents per share, which has increased 2 cents in the past 30 days.
<a href="https://www.zacks.com/stock/news/2294477/sirius-xm-s-siri-content-expansion-to-aid-subscriber-revenues?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2294477">To read this article on Zacks.com click here.</a>

Sirius XM's Content Expansion to Aid Subscriber Revenues

The U.S. business services space has been benefiting from the strong fundamentals of the economy. Despite facing a record-high interest rate and extremely tight monetary control by the Fed, this sector has provided double-digit returns in the past year.
Within this sector, the technology services industry is mature, with demand for services in good shape. Revenues, income and cash flows are anticipated to gradually reach the pre-pandemic levels, aiding most industry players to pay out stable dividends. Consequently, this industry is flourishing in 2024.
Growth in the technology services industry has increased the number of remote workers in the wake of the pandemic. In this era of digital transformation, enterprises are actively seeking a common ground between on-premise and cloud infrastructure that will enable them to provide flexible and easy-to-adopt hybrid solutions.
The business software industry is gaining from robust demand for multi-cloud-enabled software solutions, given the ongoing transition from legacy platforms to modern cloud-based infrastructure.
The industry players are incorporating artificial intelligence and tools like machine learning in their applications to make the same more dynamic and result-oriented. Elevated demand for enterprise software, which is ramping up productivity and improving the decision-making process, is a key catalyst.
Per market.us, the worldwide artificial intelligence market was worth $177 billion in 2023 and is anticipated to reach a staggering $2.75 trillion by 2032. PricewaterhouseCoopers International Ltd. estimated that AI could contribute up to $15.7 trillion to the global economy in 2030. Of this, $6.6 trillion is likely to come from increased productivity and $9.1 trillion should come from consumption-side effects.
In the past year, the Zacks Defined Business Services sector has provided a double-digit return of 16.5% and the Technology Services industry has rallied an impressive 43.9%. Year to date, the Business Services sector and the Technology services industry have advanced 7.3% and 18.6% respectively. Since the Technology Services industry ranks within the top 28% of Zacks Ranked Industries, we expect it to outperform the market over the next three to six months.
<h3>Our Top Picks</h3>
We have narrowed our search to five technology services stocks that have a solid upside left for the rest of 2024. These stocks have seen positive earnings estimate revisions in the last 60 days. Each of our picks sports a Zacks Rank #1 (Strong Buy).
The chart below shows the price performance of our five picks year to date.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ae/69565.jpg?v=504801182" style="border-style:solid; border-width:1px" /> 
Image Source: Zacks Investment Research
AppLovin Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/app#NASDAQ">APP</a>) is engaged in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. APP provides a technology platform that enables developers to market, monetize, analyze and publish their apps.
AppLovin has an expected revenue and earnings growth rate of 31.7% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 18.9% over the last 60 days.
Duolingo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/duol#NASDAQ">DUOL</a>) operates as a mobile learning platform in the United States, China, the United Kingdom, and internationally. DUOL offers courses in 40 different languages, including Spanish, English, French, German, Italian, Portuguese, Japanese, and Chinese through the Duolingo app. DUOL also provides a digital language proficiency assessment exam.
Duolingo has an expected revenue and earnings growth rate of 37.8% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 26.1% over the last 60 days.
Spotify Technology S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>) provides audio streaming services worldwide. SPOT operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its subscribers on their computers, tablets, and compatible mobile devices. SPOT also offers sales, distribution and marketing, contract research and development, and customer support services.
Spotify Technology has an expected revenue and earnings growth rate of 17.3% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 40.6% over the last 30 days.
SPX Technologies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spxc#NYSE">SPXC</a>) supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC) and detection and measurement markets worldwide. SPXC operates in two segments, HVAC and Detection and Measurement.
The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets. The Detection and Measurement segment offers underground pipe and cable locators, inspection and rehabilitation equipment, and robotic systems.
SPX Technologies has an expected revenue and earnings growth rate of 14.7% and 24.4%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 6.1% over the last 60 days.
Aptiv plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aptv#NYSE">APTV</a>) is well-positioned to leverage growing electrification, connectivity, and autonomy trends in the rapidly evolving automotive sector. Acquisitions and collaborations help APTV capitalize on developing automotive markets. APTV has ramped up investments in advanced technology and collaborations to make the most of the opportunities offered by the automotive sector.
Aptiv has an expected revenue and earnings growth rate of 5.2% and 23.7%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 6.7% over the last 60 days.
<a href="https://www.zacks.com/stock/news/2293529/5-top-picks-from-thriving-technology-services-space-in-2024?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2293529">To read this article on Zacks.com click here.</a>

On Monday,&nbsp;EU&nbsp;regulators found&nbsp;that&nbsp;Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>)&nbsp;violated the Digital Markets Act&nbsp;due to its&nbsp;lucrative App Store by illegally blocking software developers from telling customers how to access content outside the app store.&nbsp;Regulators also revealed that they opened a separate investigation into Apple&rsquo;s practice of charging a &quot;core technology fee&quot; for iOS apps available in the EU.&nbsp;Apple&nbsp;responded that it is confident that the changes it made&nbsp;in the EU comply with the DMA.
Meanwhile, in the U.S., Apple is defending itself against antitrust charges&nbsp;made by the US Justice Department and 16 state attorneys general.&nbsp;In March, they sued Apple for using&nbsp;illegal tactics to hold on to a monopoly in the smartphone market.
The&nbsp;new law designed to rein in tech giants&nbsp;and limit their power is already starting to give Big Tech legal headaches.&nbsp;
The Digital Markets Act that went into effect in March aims to limit the monopoly power that&nbsp;Apple, Amazon (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>)&nbsp;Alphabet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>)(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>), Microsoft Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>),&nbsp;ByteDance,&nbsp;and&nbsp;Meta (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>)&nbsp;enjoy by&nbsp;imposing&nbsp;more restrictive rules around competitive practices. Apple was the first of the tech titans to receive a claim for breaching the DMA by&nbsp;blocking developers from communicating alternative ways to purchase their content.
Altogether, the European Commission has significantly&nbsp;raised&nbsp;the financial risks that Apple faces from global antitrust regulators.&nbsp;As a reminder, Apple already lost to Spotify (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>) who accused it for&nbsp;abusing&nbsp;its&nbsp;market dominance in&nbsp;the distribution of music streaming apps,&nbsp;and is appealing the court&rsquo;s decision and consequent $1.95 billion fine. Besides evaluating Apple&rsquo;s lack of compliance with giving users the freedom of choice and its steering rules, the EC is going after Alphabet to evaluate its measures to prevent self-preferencing&nbsp;the Google search engine over others as well as its steering rules as well. The EC wants to make sure that Alphabet implemented measures to for Google search rivals to be treated in a fair and non-discriminatory manner.&nbsp;
EU watch dogs are also going after Meta for its&nbsp;pay or consent&rdquo; model. As a gatekeeper, the EC is concerned about Meta being a responsible gatekeeper. EC wants to prevent the accumulation of personal data by gatekeepers&nbsp;and will question if Meta is&nbsp;obtaining&nbsp;consent from users when&nbsp;intending&nbsp;to combine or cross-use their personal data across different core platform services.
Since enforcing the Digital Markets Act, the EC is showing that it will make sure that&nbsp;Alphabet, Amazon, Apple, ByteDance, Meta and Microsoft&nbsp;fully comply with the rules. Although this is still a small step to holding the tech titans accountable for their actions, it is a big step in ensuring fair competition in the digital economy and regulating gatekeepers. With Apple, the EC clearly showed it means business.
DISCLAIMER:&nbsp;This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

<a href="https://www.ft.com/content/e2d9472d-32e0-43f5-8109-efb753fac330" title="https://www.ft.com/content/e2d9472d-32e0-43f5-8109-efb753fac330">https://www.ft.com/content/e2d9472d-32e0-43f5-8109-efb753fac330</a>

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<a href="https://www.wsj.com/business/media/new-york-times-to-move-podcasts-behind-paywall-ad8e074b?mod=latest_headlines" title="https://www.wsj.com/business/media/new-york-times-to-move-podcasts-behind-paywall-ad8e074b?mod=latest_headlines">https://www.wsj.com/business/media/new-york-times-to-move-podcasts-behind-paywall-ad8e074b?mod=latest_headlines</a>

'New York Times to Move Podcasts Behind Paywall' - WSJ

Whales with a lot of money to spend have taken a noticeably bullish stance on Spotify Technology.
Looking at options history for Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) we detected 27 trades.
If we consider the specifics of each trade, it is accurate to state that 48% of the investors opened trades with bullish expectations and 18% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $457,440 and 19, calls, for a total amount of $574,733.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $200.0 and $330.0 for Spotify Technology, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Spotify Technology's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Spotify Technology's whale activity within a strike price range from $200.0 to $330.0 in the last 30 days. 
<h3>Spotify Technology Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719242194_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$27.55</td>
<td>$27.05</td>
<td>$27.05</td>
<td>$320.00</td>
<td>$132.5K</td>
<td style="text-align: right;">121</td>
<td>0</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$27.45</td>
<td>$27.0</td>
<td>$27.0</td>
<td>$320.00</td>
<td>$81.0K</td>
<td style="text-align: right;">121</td>
<td>0</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$5.15</td>
<td>$4.55</td>
<td>$4.55</td>
<td>$210.00</td>
<td>$63.7K</td>
<td style="text-align: right;">162</td>
<td>151</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$5.15</td>
<td>$4.55</td>
<td>$4.55</td>
<td>$210.00</td>
<td>$59.6K</td>
<td style="text-align: right;">162</td>
<td>151</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/05/24</td>
<td>$4.1</td>
<td>$4.0</td>
<td>$4.1</td>
<td>$325.00</td>
<td>$45.7K</td>
<td style="text-align: right;">305</td>
<td>2.9K</td>
</tr>
</tbody>
</table>

<h3>About Spotify Technology</h3>
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.
Following our analysis of the options activities associated with Spotify Technology, we pivot to a closer look at the company's own performance.
<h3>Where Is Spotify Technology Standing Right Now?</h3>
<ul>
<li>With a volume of 441,173, the price of SPOT is down -0.16% at $317.25. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 29 days.</li>
</ul>
<h3>What Analysts Are Saying About Spotify Technology</h3>
In the last month, 2 experts released ratings on this stock with an average target price of $385.5.
<ul>
<li>Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Spotify Technology, targeting a price of $396. </li>
<li>An analyst from JP Morgan has decided to maintain their Overweight rating on Spotify Technology, which currently sits at a price target of $375. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Spotify Technology with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

What the Options Market Tells Us About Spotify Technology

The Biden administration is reportedly set to ban the sale of Russian cybersecurity firm&nbsp;Kaspersky Lab's&nbsp;software in the United States, citing <a target="_blank" href="https://www.benzinga.com/news/24/06/39412305/biden-administration-to-ban-sale-of-russia-linked-kaspersky-software-in-us-over-national-security-co" rel="noreferrer noopener">potential national security risks</a>.
Amid calls to&nbsp;limit phone usage&nbsp;among those under 18, the Los Angeles Board of Education voted on Tuesday to create a plan for public approval prohibiting phones entirely during the school day. Many other districts <a target="_blank" href="https://www.benzinga.com/government/24/06/39386657/is-it-time-for-kids-to-power-off-phones-second-largest-us-school-district-says-yes-votes-to-initiate" rel="noreferrer noopener">have&nbsp;implemented similar policies</a>.
Surgeon General&nbsp;Dr. Vivek H. Murthy&nbsp;has called to introduce warning labels on social media platforms. He cites significant mental health risks for adolescents as the <a target="_blank" href="https://www.benzinga.com/news/24/06/39358039/us-surgeon-general-calls-for-warning-labels-on-social-media-due-to-mental-health-risks" rel="noreferrer noopener">primary reason behind this proposal</a>.
Recently, four European tech firms have been selected as the first beneficiaries of the €1 billion ($1.1 billion) innovation fund set up by a <a target="_blank" href="https://www.benzinga.com/news/24/06/39371874/nato-pours-1-1b-into-these-four-defence-and-space-tech-startups-that-make-chips-unmanned-robots-and" rel="noreferrer noopener">consortium of NATO allies</a>.
The European Union is set to vote on a controversial proposal that could potentially&nbsp;undermine encryption&nbsp;by allowing the scanning of private communications for illegal content. This has been slammed by&nbsp;Elon Musk-backed&nbsp;Signal app, <a target="_blank" href="https://www.benzinga.com/news/24/06/39396868/elon-musk-backed-signal-app-and-proton-slam-eus-upload-moderation-proposal-for-encrypted-chats-mass" rel="noreferrer noopener">and encrypted email provider,&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/06/39396868/elon-musk-backed-signal-app-and-proton-slam-eus-upload-moderation-proposal-for-encrypted-chats-mass" rel="noreferrer noopener">Proton</a>.
Gaming
Sony Group Corp.&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) FromSoftware, the developer of Elden Ring, has urged fans to avoid spoiling the upcoming expansion, Shadow of the Erdtree, after significant details, <a target="_blank" href="https://www.benzinga.com/general/gaming/24/06/39363489/elden-ring-dlc-leaks-prompt-fromsoftware-to-urge-fans-please-be-mindful-of-spoilers" rel="noreferrer noopener">including the final boss fight,&nbsp;were leaked online</a>.
Nintendo ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) announced notable upcoming releases, including &#8220;Luigi&#8217;s Mansion 2 HD&#8221; on June 27 and &#8220;Nintendo World <a href="https://www.benzinga.com/general/gaming/24/06/39364218/nintendo-direct-to-highlight-holiday-2024-switch-titles" target="_blank" rel="noreferrer noopener">Championships: NES Edition&#8221; on July 18</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/06/39387165/elden-ring-director-vows-to-shield-fromsoftware-from-gaming-industry-layoffs-i-would-not-let-that-" rel="noreferrer noopener">Elden Ring Director Vows To Shield FromSoftware From Gaming Industry Layoffs: &#8216;I Would Not Let That Happen&#8217;</a>
Smartphones &amp; Technology
Spotify Technology&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) platform recently added video support for all users in its latest foray to capture market share. The platform now has over 250,000 video podcast uploads, <a href="https://www.benzinga.com/24/06/39418475/spotify-challenges-youtube-adds-video-support-for-all-platform-podcasters" target="_blank" rel="noreferrer noopener">up from just 100,000 in 2023</a>.
Despite Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), formerly Facebook, promising to provide <a href="https://www.benzinga.com/news/24/04/38201197/metas-instagram-takes-steps-against-sextortion-of-teenage-users" target="_blank" rel="noreferrer noopener">an age-appropriate experience</a> for young users, it has been revealed that Instagram‘s algorithm continues to recommend <a href="https://www.benzinga.com/news/24/06/39407404/instagram-algorithm-continues-to-recommend-sexual-content-to-teen-accounts-despite-metas-promises-re" target="_blank" rel="noreferrer noopener">sexually explicit content to accounts of teenagers</a>.
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) made waves with its AI-powered features, a new iOS update and a partnership that sparked a <a href="https://www.benzinga.com/news/24/06/39347276/apples-ai-endeavors-ios-18-and-a-spat-with-elon-musk-this-week-in-appleverse" target="_blank" rel="noreferrer noopener">public spat with </a><a href="https://www.benzinga.com/news/24/06/39347276/apples-ai-endeavors-ios-18-and-a-spat-with-elon-musk-this-week-in-appleverse" target="_blank" rel="noreferrer noopener">Elon Musk</a>.
Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39395129/vision-pro-users-are-quickly-giving-up-on-the-device-after-a-few-tries-says-top-app" rel="noreferrer noopener">Vision Pro Users Are Quickly Giving Up On The Device After A Few Tries, Says Top Apple Analyst Ming-Chi Kuo: &#8216;Simply Creating A Downgraded Version…Won&#8217;t Solve The Problem&#8217;</a>
Apple&#8217;s new artificial intelligence offerings,&nbsp;unveiled last week, are set to roll out gradually, with some <a target="_blank" href="https://www.benzinga.com/news/24/06/39349706/apples-ai-rollout-could-extend-beyond-fall-much-anticipated-chatgpt-integration-may-not-come-until-2" rel="noreferrer noopener">features not expected until 2025</a>.
Apple CEO Tim Cook recently participated in a blind ranking of five iconic Apple products, during an interview. The lineup included the MacBook Air, iPad, iPhone 4 and 5, <a href="https://www.benzinga.com/news/24/06/39348364/tim-cook-tells-mkbhd-blindly-ranking-apple-products-is-like-choosing-your-favorite-nieces-or-nephews" target="_blank" rel="noreferrer noopener">Magic Mouse and Vision Pro</a>.
Related: <a target="_blank" href="https://www.benzinga.com/news/24/06/39347656/apples-ai-privacy-measures-elon-musks-robot-prediction-and-more-this-week-in-artificial-intelligence" rel="noreferrer noopener">Apple&#8217;s AI Privacy Measures, Elon Musk&#8217;s Robot Prediction, And More: This Week In Artificial Intelligence</a>
Apple&nbsp;intends to join forces with Japanese companies, including&nbsp;Canon, to bolster the development and popularity of its&nbsp;first-generation mixed-<a target="_blank" href="https://www.benzinga.com/news/24/06/39350130/apple-could-partner-with-japanese-firms-like-canon-to-amplify-vision-pros-reach-says-lead-developer" rel="noreferrer noopener">reality&nbsp;headset&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/06/39350130/apple-could-partner-with-japanese-firms-like-canon-to-amplify-vision-pros-reach-says-lead-developer" rel="noreferrer noopener">Vision Pro</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39350097/steven-spielbergs-talk-interrupted-by-apple-watch-hard-fall-alert-causing-stir-here-is-how-the-legen" rel="noreferrer noopener">Steven Spielberg&#8217;s Talk Interrupted By Apple Watch Hard Fall Alert, Causing Stir — Here Is How The Legendary Director Responded To The &#8216;Crisis&#8217;</a>
Apple is reportedly planning to launch a &#8220;significantly skinnier&#8221; iPhone 17 as part of a broader strategy <a target="_blank" href="https://www.benzinga.com/24/06/39353968/apple-resumes-its-pursuit-of-thinness-after-ipad-pro-tim-cooks-company-is-focusing-on-making-this-de" rel="noreferrer noopener">to make its devices thinner</a>.
Apple has unveiled its new AI features, collectively known as Apple Intelligence, which will&nbsp;only be available&nbsp;on the latest iPhone 15 Pro and Pro Max models. Now, Cupertino&#8217;s top executives have clarified that the features are <a target="_blank" href="https://www.benzinga.com/news/24/06/39408910/limiting-apple-intelligence-features-not-a-tactic-to-boost-iphone-sales-say-top-executives-we-wouldv" rel="noreferrer noopener">not a ploy to drive new iPhone sales</a>.
Alphabet Inc.&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google&nbsp;has added a new feature to its Chrome browser, &#8220;Listen to this page,&#8221; which enables the browser to read <a target="_blank" href="https://www.benzinga.com/news/24/06/39351154/now-listen-to-webpages-using-google-chrome-browser-in-two-simple-steps-heres-how" rel="noreferrer noopener">webpages aloud to users</a>.
South Korean tech behemoth&nbsp;Samsung Electronics Co Ltd.&#8217;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) upcoming flagship&nbsp;Galaxy S25&nbsp;is expected to feature<a target="_blank" href="https://www.benzinga.com/news/24/06/39372219/advantage-qualcomm-worlds-largest-smartphone-maker-could-switch-completely-to-snapdragon-chips-for-i" rel="noreferrer noopener">&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/06/39372219/advantage-qualcomm-worlds-largest-smartphone-maker-could-switch-completely-to-snapdragon-chips-for-i" rel="noreferrer noopener">Qualcomm&nbsp;Inc.&#8217;s </a><a target="_blank" href="https://www.benzinga.com/news/24/06/39372219/advantage-qualcomm-worlds-largest-smartphone-maker-could-switch-completely-to-snapdragon-chips-for-i" rel="noreferrer noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>)</a><a target="_blank" href="https://www.benzinga.com/news/24/06/39372219/advantage-qualcomm-worlds-largest-smartphone-maker-could-switch-completely-to-snapdragon-chips-for-i" rel="noreferrer noopener"> </a><a target="_blank" href="https://www.benzinga.com/news/24/06/39372219/advantage-qualcomm-worlds-largest-smartphone-maker-could-switch-completely-to-snapdragon-chips-for-i" rel="noreferrer noopener">next-generation chipset</a> exclusively.
Related: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39379666/qualcomm-stock-surges-with-samsung-partnership-for-galaxy-s25-whats-driving-the-gro" rel="noreferrer noopener">Qualcomm Stock Surges With Samsung Partnership For Galaxy S25: What&#8217;s Driving The Growth?</a>
Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) announced the roll-out of new augmented <a target="_blank" href="https://www.benzinga.com/general/social-media/24/06/39387032/snapchat-flexes-generative-ai-muscles-with-new-augmented-reality-lenses-report" rel="noreferrer noopener">reality&nbsp;experiences on Tuesday</a>.
Palmer Luckey, the founder of&nbsp;Oculus&nbsp;and&nbsp;Anduril Industries, is working on a new headset that's designed to meet military specifications but will <a target="_blank" href="https://www.benzinga.com/news/24/06/39404973/palmer-luckey-announces-new-headset-for-military-and-civilian-use-identifies-adult-entertainment-as" rel="noreferrer noopener">also cater to non-military applications</a>.
Elon Musk
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX CEO Elon Musk on Monday reacted to a video of Jensen Huang, where the Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO predicted that <a href="https://www.benzinga.com/news/24/06/39371057/elon-musk-echoes-nvidia-ceo-jensen-huangs-prediction-about-humanoid-robots-they-will-be-10x-more-com" target="_blank" rel="noreferrer noopener">humanoid robots will soon become as common as cars</a>.
Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39395402/nvidia-is-at-the-center-of-something-really-big-says-expert-as-jensen-huang-led-chi" rel="noreferrer noopener">Nvidia Is &#8216;At The Center&#8217; Of Something &#8216;Really Big,&#8217; Says Expert As Jensen Huang-Led Chip Giant Beats Microsoft, Apple To Become World&#8217;s Most Valuable Company</a>
Elon Musk‘s artificial intelligence startup,&nbsp;xAI, has reportedly seen an influx of former&nbsp;Tesla employees. This move has sparked controversy, with some accusing Musk of using Tesla <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39397562/is-elon-musk-poaching-talent-from-his-own-companies-xai-reportedly-sees-influx-of-former-tesla-e" rel="noreferrer noopener">as a talent pool for his other ventures</a>.
Musk once again expressed his agreement with Apple co-founder Steve Jobs who, in an old interview, said, <a href="https://www.benzinga.com/news/24/06/39393059/elon-musk-agrees-with-legendary-apple-co-founder-steve-jobs-on-thinker-doers-the-doers-are-the-major" target="_blank" rel="noreferrer noopener">"The doers are the major thinkers."</a>
Elon Musk&nbsp;made a surprising&nbsp;appearance at the&nbsp;Cannes Lions conference in France. The tech billionaire used the platform to&nbsp;address his previous outbursts&nbsp;and reassure advertisers <a target="_blank" href="https://www.benzinga.com/news/24/06/39404184/elon-musk-reassures-advertisers-by-revealing-why-he-told-them-to-go-f-yourself-last-november-i-do-sh" rel="noreferrer noopener">about the platform's future</a>.
Noland Arbaugh,&nbsp;the&nbsp;first human recipient&nbsp;of&nbsp;a&nbsp;Neuralink&nbsp;implant, is preparing to receive a second brain-computer interface implant. This was announced by Neuaralink <a target="_blank" href="https://www.benzinga.com/news/24/06/39425814/elon-musks-neuralink-patient-noland-arbaugh-set-for-another-implant-says-right-brian-hemisphere-jeal" rel="noreferrer noopener">founder&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/06/39425814/elon-musks-neuralink-patient-noland-arbaugh-set-for-another-implant-says-right-brian-hemisphere-jeal" rel="noreferrer noopener">Elon Musk</a><a target="_blank" href="https://www.benzinga.com/news/24/06/39425814/elon-musks-neuralink-patient-noland-arbaugh-set-for-another-implant-says-right-brian-hemisphere-jeal" rel="noreferrer noopener">&nbsp;on social media</a>.
Artificial Intelligence (AI)
Microsoft Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Japan president&nbsp;Miki Tsusaka has expressed her belief that the country&#8217;s rapid adoption of artificial intelligence could&nbsp;further boost its <a target="_blank" href="https://www.benzinga.com/news/24/06/39349293/microsoft-regional-chief-says-this-country-has-caught-up-in-ai-technology-and-continues-to-pick-up-t" rel="noreferrer noopener">economy&nbsp;and technology sector</a>.
Also Read: <a target="_blank" href="https://benzinga.com/news/24/06/39377942/new-windows-vulnerability-poses-major-threat-hackers-can-infect-pcs-via-wi-fi" rel="noreferrer noopener">New Windows Vulnerability Poses Major Threat: Hackers Can Infect PCs Via Wi-Fi</a>
Best Buy Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) is preparing for a monumental launch of Microsoft&#8217;s new AI-powered&nbsp;Copilot+ PCs, marking one of the most&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/06/39386022/best-buy-launches-major-ai-pc-training-for-microsoft-copilot-release-report" rel="noreferrer noopener">significant product debuts this year</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39406363/elon-musk-and-jensen-huang-have-this-thing-in-common-says-google-search-challenger-perplexity-ais-ce" rel="noreferrer noopener">Elon Musk And Jensen Huang Have This Thing In Common, Says Google Search Challenger Perplexity AI&#8217;s CEO: &#8216;This Guy Just Keeps On Delivering…&#8217;</a>
OpenAI co-founder and former chief scientist Ilya Sutskever announced his new AI venture, Safe Superintelligence Inc., or SSI, just a month after <a href="https://www.benzinga.com/news/24/06/39403902/openai-ex-chief-scientist-ilya-sutskever-launches-new-company-a-month-after-quitting-chatgpt-parent" target="_blank" rel="noreferrer noopener">resigning from </a><a href="https://www.benzinga.com/news/24/06/39403902/openai-ex-chief-scientist-ilya-sutskever-launches-new-company-a-month-after-quitting-chatgpt-parent" target="_blank" rel="noreferrer noopener">ChatGPT</a><a href="https://www.benzinga.com/news/24/06/39403902/openai-ex-chief-scientist-ilya-sutskever-launches-new-company-a-month-after-quitting-chatgpt-parent" target="_blank" rel="noreferrer noopener">-parent</a>.
Read: <a href="https://www.benzinga.com/news/24/06/39370205/michael-dell-says-generative-ai-tech-wave-sweeping-in-much-faster-than-early-internet-its-happening" target="_blank" rel="noreferrer noopener">Michael Dell Says Generative AI Tech Wave Sweeping In Much Faster Than Early Internet: &#8216;It&#8217;s Happening Maybe 10 Times Faster&#8217;</a>
SoftBank Group Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>)&nbsp;founder,&nbsp;Masayoshi Son, revealed his intent to make a significant <a target="_blank" href="https://www.benzinga.com/news/24/06/39405543/softbanks-masayoshi-son-readies-for-next-big-investment-move-after-setback-from-alibaba-wework-witho" rel="noreferrer noopener">investment in artificial intelligence (AI)</a>.
Read: <a href="https://www.benzinga.com/news/24/06/39405572/ai-generated-jokes-resemble-cruise-ship-comedy-material-from-the-1950s-google-deepmind-experiment-tu" target="_blank" rel="noreferrer noopener">AI-Generated Jokes Resemble &#8216;Cruise Ship Comedy Material From The 1950s&#8217; — Google DeepMind Experiment Turns Out To Be A Mixed Bag</a>
Photo: Shutterstock

What's New In the Consumer Tech World Last Week? News That You Should Know (June 16-June 21, 2024)

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) announced on Friday that it is introducing a new &#8220;Basic&#8221; streaming <a target="_blank" href="https://newsroom.spotify.com/2024-06-21/more-choice-for-us-subscribers/" rel="noreferrer noopener">plan </a>in the U.S. The new plan costs $10.99 per month and includes all of the benefits of a Premium plan but without the monthly audiobook listening time.
The new streaming plans were launched a few weeks after Spotify increased the price of its Premium plan from $10.99 to $11.99.
Related: <a target="_blank" href="https://www.benzinga.com//node/39138449" rel="noreferrer noopener">Spotify Turns Up The Volume On Pricing, Premium Plans See A Hike</a>
The higher prices would help the streaming service cover the cost of audiobooks, TechCrunch <a target="_blank" href="https://techcrunch.com/2024/06/21/spotify-launches-a-new-basic-streaming-plan-in-the-us/" rel="noreferrer noopener">reports</a>. This new plan is ideal for users who don&#8217;t utilize the monthly 15 hours of audiobook listening with the Premium plan.
The streaming giant is <a target="_blank" href="https://www.benzinga.com/news/24/06/39274302/whats-going-on-with-spotify-stock-on-tuesday" rel="noreferrer noopener">reportedly developing a </a>&#8220;Supremium&#8221; plan that will include high-fidelity audio and cost at least $5 more monthly.
In April, Spotify reported a quarterly gross margin of 27.6%, implying a growth of 243 bps,&nbsp;reflecting improved podcast and music profitability.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/04/38493319/spotify-co-founder-daniel-ek-cashes-out-more-spotify-stock-shifts-focus-to-tech-and-climate-startups" rel="noreferrer noopener">Spotify Co-founder Daniel Ek Cashes Out More Spotify Stock, Shifts Focus to Tech and Climate Startups</a>
<a target="_blank" href="https://www.benzinga.com/news/24/05/39010168/spotify-discontinues-car-thing-device-shifts-focus-to-new-user-features" rel="noreferrer noopener">Analysts predict accelerated</a> revenue growth in 2024, driven by increased Premium Subscribers benefiting from the shift to access-based streaming models. They praised Spotify&#8217;s capability to boost revenue and enhance profitability through effective pricing strategies.
Spotify stock gained over 100% in the last 12 months. Investors can gain exposure to the stock via SPDR Portfolio Developed World Ex-US ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPDW#NYSE">SPDW</a>) and iShares Russell 1000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWB#NYSE">IWB</a>).
Price Action: SPOT shares were trading higher by 0.65% at $315.93 at the last check Friday.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/06/39418475/spotify-challenges-youtube-adds-video-support-for-all-platform-podcasters" rel="noreferrer noopener">Spotify Challenges YouTube, Adds Video Support For All Platform Podcasters</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) is the largest podcasting network by audience in the world. The platform recently added video support for all users in its latest foray to <a href="https://www.benzinga.com/news/24/06/39274302/whats-going-on-with-spotify-stock-on-tuesday">capture market share</a>.
What Happened: Spotify quietly rolled out video features to all podcasters last week, <a href="https://techcrunch.com/2024/06/20/spotify-surpasses-250000-video-podcast-shows/">according</a> to TechCrunch. The platform now has more than 250,000 video podcast uploads, up from just 100,000 in 2023.
Previously, only podcasters whose content was hosted by Spotify were able to create video feeds for podcasts. 
Why it Matters: Spotify is perhaps pigeonholed as specializing in audio, but the recent expansion of video on the platform could help the Stockholm, Sweden-based company compete with Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) YouTube.
"Video is becoming core to the global Spotify experience," Maya Prohovnik, Spotify's vice president of podcast product, told TechCrunch. "With the number of podcasters publishing videos on our platform growing nearly 70% over the past year, it's clear that video podcasts are resonating with users, and the appetite for video content has increased immensely across all of our major content categories on Spotify."&nbsp;
Joe Rogan, the most streamed podcaster in the U.S., <a href="https://open.spotify.com/show/4rOoJ6Egrf8K2IrywzwOMk">has utilized video</a> on Spotify in his <a href="https://www.benzinga.com/markets/equities/24/02/36914209/spotify-inks-multiyear-deal-with-podcast-king-joe-rogan-amid-shifting-strategy">long-standing partnership</a> with the company.
SPOT Price Action: Spotify is up 1.22% at $313.18 Thursday at publication 
Also Read: <a href="https://www.benzinga.com/government/24/06/39416977/supreme-court-upholds-2017-tax-on-foreign-profits-for-us-businesses">Supreme Court Upholds 2017 Tax On Foreign Profits For US Businesses</a>
Photo: Shutterstock

Two years ago, questions emerged about whether TikTok was evolving into a record company. The video platform — owned by Beijing-based ByteDance Ltd. — launched the SoundOn music distribution service and hired <a href="https://www.benzinga.com/topic/business-of-music">Artists &amp; Repertoire executives. </a>
On Tuesday, June 18, Music Business Worldwide (MBW)<a href="https://www.musicbusinessworldwide.com/tiktok-is-forming-an-investment-team-to-acquire-music-content-and-companies/"> revealed </a>that TikTok is advancing this plan. 
What Happened: TikTok is establishing a Music Content Investment Team based in Los Angeles, New York, and San Jose. The team&#8217;s goal is to explore global partnership or acquisition opportunities in the music content sector.
See Also: <a href="https://www.benzinga.com/general/entertainment/23/11/35905490/does-tiktok-help-the-music-industry-study-shows-increased-live-event-attendance-spending-ha">Does TikTok Help The Music Industry? Study Shows Increased Live Event Attendance, Spending Habits</a>
MBW cites job ads for the creation of the team, indicating TikTok&#8217;s intent to move into the music M&amp;A market.
The team aims to &#8220;evaluate market opportunities, execute partnership or acquisition projects, and perform detailed financial analysis and valuations of music content and related assets.&#8221;
The first role advertised is for a Music Content Investment Manager, requiring at least three years of experience in investment banking, management consulting, or private equity. This position involves developing investment strategies and presenting insights to senior management to shape TikTok&#8217;s music business future.
The second, more senior role is for a Music Content Investment Lead, who will &#8220;formulate and implement investment strategies aligned with TikTok's objectives in music content operations.&#8221; Candidates need a background in finance or economics and at least five years of relevant experience. This role includes overseeing financial valuation models and assessing the music investment landscape.
Why It Matters: TikTok&#8217;s latest move into music rights acquisition may concern major music rights holders. A potential strategy could involve enhancing the SoundOn service by retaining more control over the music of viral artists developed through the platform, possibly offering deals to these artists before major record companies can.
 TikTok might also prioritize promoting content it owns, balancing this with the promotion of major label music.
Additionally, TikTok could acquire less popular back catalogs with viral potential or explore acquisitions in the generative AI space to bolster its capabilities. 
This strategy mirrors other tech giants like Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), who have previously acquired startups to integrate into their platforms.
Meanwhile, TikTok is still under government scrutiny. ByteDance has until Jan. 19 to complete a sale. Or else, TikTok might get banned, the White House says, citing Chinese-based ownership as <a href="https://www.benzinga.com/markets/asia/24/05/38567569/tiktok-ban-is-the-us-government-taking-a-page-from-chinas-censorship-book">a national security concern</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38923379/tiktok-tests-hour-long-videos-what-you-need-to-know">TikTok Tests Hour-Long Videos &#8211; What You Need To Know</a>
Image credits: Shutterstock.

TikTok Tunes? Social Media Platform Has A Music M&A Team In The Works

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Spotify (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>) one of those stocks right now? By taking a look at the stock&#39;s year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Spotify is a member of the Business Services sector. This group includes 316 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Spotify is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SPOT&#39;s full-year earnings has moved 39.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SPOT has gained about 64.9% so far this year. Meanwhile, the Business Services sector has returned an average of 6.7% on a year-to-date basis. As we can see, Spotify is performing better than its sector in the calendar year.
Paymentus (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pay#NYSE">PAY</a>) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 8.2%.
In Paymentus&#39; case, the consensus EPS estimate for the current year increased 11.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Spotify belongs to the Technology Services industry, which includes 173 individual stocks and currently sits at #68 in the Zacks Industry Rank. On average, this group has gained an average of 20.7% so far this year, meaning that SPOT is performing better in terms of year-to-date returns. Paymentus is also part of the same industry.
Spotify and Paymentus could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.
<a href="https://www.zacks.com/stock/news/2290374/is-spotify-technology-spot-stock-outpacing-its-business-services-peers-this-year?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_1-2290374">To read this article on Zacks.com click here.</a>

Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) has outperformed the market over the past 5 years by 3.01% on an annualized basis producing an average annual return of 16.54%. Currently, Spotify Technology has a market capitalization of $61.69 billion. 
Buying $100 In SPOT: If an investor had bought $100 of SPOT stock 5 years ago, it would be worth $206.54 today based on a price of $309.90 for SPOT at the time of writing.
<h3>Spotify Technology's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718816421_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Spotify Technology 5 Years Ago Would Be Worth Today

Whales with a lot of money to spend have taken a noticeably bearish stance on Spotify Technology.
Looking at options history for Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $179,965 and 6, calls, for a total amount of $502,675.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $280.0 to $350.0 for Spotify Technology over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Spotify Technology's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Spotify Technology's significant trades, within a strike price range of $280.0 to $350.0, over the past month.
<h3>Spotify Technology 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718728280_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$61.3</td>
<td>$59.5</td>
<td>$60.38</td>
<td>$280.00</td>
<td>$307.9K</td>
<td style="text-align: right;">461</td>
<td style="text-align: right;">19</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$18.35</td>
<td>$18.0</td>
<td>$18.35</td>
<td>$300.00</td>
<td>$80.7K</td>
<td style="text-align: right;">467</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$33.7</td>
<td>$33.7</td>
<td>$33.7</td>
<td>$320.00</td>
<td>$64.0K</td>
<td style="text-align: right;">113</td>
<td style="text-align: right;">21</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$33.85</td>
<td>$33.7</td>
<td>$33.85</td>
<td>$320.00</td>
<td>$47.3K</td>
<td style="text-align: right;">113</td>
<td style="text-align: right;">41</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$27.85</td>
<td>$27.55</td>
<td>$27.85</td>
<td>$310.00</td>
<td>$41.7K</td>
<td style="text-align: right;">48</td>
<td style="text-align: right;">12</td>
</tr>
</tbody>
</table>

<h3>About Spotify Technology</h3>
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.
In light of the recent options history for Spotify Technology, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Spotify Technology's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 507,511, the SPOT's price is down by -1.3%, now at $307.17. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 35 days.</li>
</ul>
<h3>What The Experts Say On Spotify Technology</h3>
2 market experts have recently issued ratings for this stock, with a consensus target price of $385.5.
<ul>
<li>Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Spotify Technology with a target price of $396. </li>
<li>An analyst from JP Morgan persists with their Overweight rating on Spotify Technology, maintaining a target price of $375. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Spotify Technology, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

A Closer Look at Spotify Technology's Options Market Dynamics

WIIM

Spotify shares are trading higher. The company earlier in the week announced price increases for Premium plans.

U.S. stocks were mostly lower, with the Dow Jones index falling around 300 points on Friday.
Shares of Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) rose sharply during Friday's session after B of A Securities upgraded the stock from Neutral to Buy and raised its price target <a href="https://www.benzinga.com/quote/HAS/analyst-ratings">from $70 to $80</a>.
Hasbro shares gained 5.5% to $61.22 on Friday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Disc Medicine, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRON#NASDAQ">IRON</a>) shares gained 15.6% to $45.29. Disc Medicine announced a $178 million underwritten offering of 4.944 million shares at $36 per share.</li>
<li>UroGen Pharma Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URGN#NASDAQ">URGN</a>) rose 15.4% to $20.19. UroGen Pharma recently announced an 82.3% 12-month duration of response in its Phase 3 ENVISION trial for UGN-102, achieving a 79.6% complete response rate at three months.</li>
<li>Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) rose surged 14.3% to $524.39 following better-than-expected second-quarter earnings and strong guidance.</li>
<li>Ocular Therapeutix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCUL#NASDAQ">OCUL</a>) rose 14.1% to $5.75 as the company highlighted AXPAXLI SOL-1 enrollment and plans repeat dosing study in wet AMD.</li>
<li>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>) climbed 9.9% to $4.32. VinFast Auto anticipates sustained growth for next five years and approaching break-even point.</li>
<li>Tutor Perini Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPC#NYSE">TPC</a>) gained 9.9% to $21.11. UBS analyst Steven Fisher upgraded Tutor Perini from Neutral to Buy and raised the price target from $14 to $27.</li>
<li>Grindr Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRND#NYSE">GRND</a>) gained 9.2% to $10.30.</li>
<li>ECARX Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ECX#NASDAQ">ECX</a>) gained 7.4% to $1.16.</li>
<li>Life360, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIF#NASDAQ">LIF</a>) rose 6.2% to $30.68.</li>
<li>Willis Lease Finance Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WLFC#NASDAQ">WLFC</a>) climbed 6.4% to $64.99.</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) gained 4.4% to $165.07 after it was announced that the company will join the Nasdaq-100 Index starting June 24, 2024.</li>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) rose 3.1% to $315.33.</li>
<li>Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) gained 2.9% to $672.08.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/06/39331536/how-to-earn-500-a-month-from-kb-home-stock-ahead-of-q2-earnings">How To Earn $500 A Month From KB Home Stock Ahead Of Q2 Earnings</a>

Spotify shares are trading lower following a report suggesting music publishers filed an FTC complaint against the company for fraudulent business practices.

<a href="https://www.rollingstone.com/music/music-news/music-publishers-file-ftc-complaint-against-spotify-1235037089/" title="https://www.rollingstone.com/music/music-news/music-publishers-file-ftc-complaint-against-spotify-1235037089/">https://www.rollingstone.com/music/music-news/music-publishers-file-ftc-complaint-against-spotify-1235037089/</a>

Reported June 12, 2024, 'Music Publishers File FTC Complaint Against Spotify For 'Fraudulent Business Practices'' - Rolling Stone

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock&#39;s price, do they really matter?
Let&#39;s take a look at what these Wall Street heavyweights have to say about Spotify (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
Spotify currently has an average brokerage recommendation of 1.72, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 27 brokerage firms. An ABR of 1.72 approximates between Strong Buy and Buy.
Of the 27 recommendations that derive the current ABR, 16 are Strong Buy and two are Buy. Strong Buy and Buy respectively account for 59.3% and 7.4% of all recommendations.
Brokerage Recommendation Trends for SPOT
<img alt="Broker Rating Breakdown Chart for SPOT" class="chart" src="https://staticx-tuner.zacks.com/images/yesopchart/brokerage_bar/SPOT_06122024.png" style="width:100%" title="" /> 
The ABR suggests buying Spotify, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every &quot;Strong Sell&quot; recommendation, brokerage firms assign five &quot;Strong Buy&quot; recommendations.
In other words, their interests aren&#39;t always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock&#39;s price movement.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock&#39;s near -term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABR
In spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company&#39;s changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Should You Invest in SPOT?
Looking at the earnings estimate revisions for Spotify, the Zacks Consensus Estimate for the current year has increased 0.5% over the past month to $4.95.
Analysts&#39; growing optimism over the company&#39;s earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Spotify.
Therefore, the Buy-equivalent ABR for Spotify may serve as a useful guide for investors.
<a href="https://www.zacks.com/stock/news/2287184/wall-street-analysts-see-spotify-spot-as-a-buy-should-you-invest?cid=CS-BENZ-FT-fundamental_analysis|average_broker_rating-2287184">To read this article on Zacks.com click here.</a>

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) will introduce a higher-priced premium plan later this year, charging users at least $5 more monthly for better audio and new playlist tools.
Spotify's stock is trading higher on Tuesday.
The plan will be an add-on for existing customers, generating additional revenue for the company, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-11/spotify-to-introduce-more-expensive-subscription-tier-for-music-lovers?sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/05/39010168/spotify-discontinues-car-thing-device-shifts-focus-to-new-user-features" rel="noreferrer noopener">Spotify Discontinues Car Thing Device, Shifts Focus to New User Features</a>
The new tier, dubbed "Supremium," will vary in price based on the user's base plan but will average a 40% markup, Bloomberg notes.
Among the benefits for upgraded subscribers is access to high-fidelity audio, a feature Spotify announced in February 2021 but delayed. Competitors like Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Music, and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Apple Music now offer higher-quality audio as part of their standard plans.
The new subscription tier follows recent price hikes, with the standard paid tier in the U.S. increasing to $11.99 monthly. This premium plan could significantly boost Spotify's revenue, which is shared with music rights holders.
Subscribers will also get custom playlists generated based on their behavior.
Last week, the company <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/06/39138449/spotify-turns-up-the-volume-on-pricing-premium-plans-see-a-hike" rel="noreferrer noopener">hiked prices for</a> its premium plans in the U.S. to boost its margins.
In April, Spotify reported a quarterly gross margin growth of 243 bps to&nbsp;27.6%, reflecting improved podcast and music profitability. Premium subscribers improved by 14% to 239 million.
Spotify stock gained over 105% in the last 12 months. Investors can gain exposure to the stock via iShares Russell Midcap Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWP#NYSE">IWP</a>) and iShares Russell 1000 Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWF#NYSE">IWF</a>).
Price Action: At the last check Tuesday, SPOT shares were trading higher by 1.13% at $312.50.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/04/38493319/spotify-co-founder-daniel-ek-cashes-out-more-spotify-stock-shifts-focus-to-tech-and-climate-startups" rel="noreferrer noopener">Spotify Co-founder Daniel Ek Cashes Out More Spotify Stock, Shifts Focus to Tech and Climate Startups</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Cezar Sampaio on Unsplash

iShares Trust Russell Midcap Growth Index Fund

What's Going On With Spotify Stock On Tuesday?

High-growth stocks can outperform during economic expansions and add significant value to investment portfolios. Therefore, investors could consider buying high-growth stocks, Spotify Technology (SPOT), Pure Storage (PSTG), Annaly Capital Management (NLY), and Wix.com (WIX), trading above their 50-day moving averages. Keep reading… Investing in companies with robust growth potential can be a prudent strategy to secure substantial long-term returns at the moment. To that end, Spotify Technology S.A. (<a href="https://stocknews.com/stock/SPOT/">SPOT</a>), Pure Storage, Inc. (<a href="https://stocknews.com/stock/PSTG/">PSTG</a>), Annaly Capital Management, Inc. (<a href="https://stocknews.com/stock/NLY/">NLY</a>), and Wix.com Ltd. (<a href="https://stocknews.com/stock/WIX/">WIX</a>), which exhibit strong growth, could be great additions to your portfolio now.
Growth stocks offer high potential returns, driven by companies with strong earnings growth. They often outperform in bull markets and can significantly increase an investor's portfolio value. The World Bank raised the <a href="https://www.usnews.com/news/economy/articles/2024-06-11/world-bank-raises-global-economic-forecast-citing-u-s-strength">global growth rate to 2.6% from 2.4% in January</a>. Such optimism about the global economy's prospects might lend support to growth names.
Moreover, despite a volatile macroeconomic background, <a href="https://www.dws.com/en-us/insights/cio-view/macro/cio-special-03272024/">growth stocks outperformed value stocks in 2023</a>, and investors anticipate that trend will continue in 2024 when the Federal Reserve eventually pivots to rate cuts. Investors' interest in growth stocks is evident from the SPDR Portfolio S&amp;P 500 Growth ETF's (<a href="https://stocknews.com/stock/SPYG/">SPYG</a>) robust returns of 33.5% over the past year.
So, let's take a look at the fundamentals of the four high-growth stocks trading above their 50-day moving averages.
Spotify Technology S.A. (<a href="https://stocknews.com/stock/SPOT/">SPOT</a>)
Based in Luxembourg City, Luxembourg, SPOT provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/a/assetturnover.asp">asset turnover ratio</a>, SPOT's 1.67x is 233.9% higher than the 0.50x industry average. Likewise, its $18.71 trailing-12-month cash per share is significantly higher than the $1.50 industry average.
SPOT's revenue for the first quarter that ended March 31, 2024, rose 9.5% year-over-year to €3.64 billion ($3.90 billion). Its gross profit increased 9.3% year-over-year to €1 billion ($1.07 billion).
Likewise, the company's net income came in at €197 million ($211.08 million), compared to a loss of €225 million ($241.08 million) in the previous-year quarter. Also, its earnings per share came in at €0.97, compared to loss per share €1.16 in the previous-year quarter.
SPOT's revenue grew at a CAGR of 19.7% over the past five years. In addition, its total assets grew at a CAGR of 10.2% over the past five years.
Street expects SPOT's revenue and EPS for the third quarter ending September 2024 to increase 19.9% and 294.7% year-over-year to $4.26 billion and $1.38, respectively.
Over the past six months, the stock gained 62% to close the last trading session at $311.22. The stock is trading above its 50-day moving average of $300.17, indicating an uptrend.
SPOT's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
SPOT has an A grade for Growth and a B in Sentiment and Quality. It is ranked first among five stocks in the B-rated <a href="https://stocknews.com/category/entertainment-radio/">Entertainment - Radio</a> industry.
In addition to the POWR Ratings we've stated above, we also have SPOT ratings for Value, Momentum, and Stability. Get all SPOT ratings <a href="https://stocknews.com/stock/SPOT/">here</a>.
Pure Storage, Inc. (<a href="https://stocknews.com/stock/PSTG/">PSTG</a>)
PSTG engages in the provision of data storage and management technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services.
On June 5, 2024, PSTG, the IT pioneer that delivers the world's most advanced data storage platform, and LandingAI, the leading visual AI company, announced Pure's strategic investment in LandingAI to help power the future of vision AI.
PSTG delivers a data storage platform that enables customers to realize the potential of AI at any stage of the AI journey. The promise of LandingAI's multi-modal Large Vision Model (LVM) solutions would help shape the future of vision AI for the enterprises that PSTG serves.
PSTG's trailing-12-month gross profit margin of 71.68% is 44.6% higher than the industry average of 49.56%. Its trailing-12-month net income margin and levered FCF margin of 3.19% and 15.58% are 12.8% and 54% higher than the industry averages of 2.83% and 10.12%, respectively.
For the fiscal first quarter that ended May 5, 2024, PSTG's total revenue increased 17.7% year-over-year to $693.48 million. Its non-GAAP gross profit increased 20.4% year-over-year to $512.16 million. The company's non-GAAP net income increased 334.7% year-over-year to $107.30 million, and net income per share grew 300% year-over-year to $0.32.
PSTG's revenue grew at a CAGR of 15.5% over the past five years. In addition, its total assets grew at a CAGR of 11.9% over the past five years.
Analysts expect PSTG's EPS for the second quarter ending July 2024, to increase 8.2% year-over-year to $0.37. The company's revenue is expected to grow 9.8% year-over-year to $756.12 million for the same quarter. Further, PSTG topped the consensus EPS and revenue estimates in each of the trailing four quarters, which is impressive.
PSTG's stock has gained 85.3% over the past six months to close the last trading session at $67.81. The stock is trading above its 50-day moving average of $57.32, indicating an uptrend.
PSTG's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
The stock has an A grade for Growth and Quality and a B for Sentiment. PSTG is ranked first in the A-rated <a href="https://stocknews.com/category/technology-storage/">Technology - Storage</a> industry.
<a href="https://stocknews.com/stock/PSTG/">Click here</a> to access all PSTG ratings (Momentum, Stability, and Value).
Annaly Capital Management, Inc. (<a href="https://stocknews.com/stock/NLY/">NLY</a>)
NLY is a diversified capital manager that engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages and other real estate-related securities.
On June 5, 2024, NLY declared the second quarter 2024 common stock cash dividend of $0.65 per common share, payable on July 31, 2024. The company pays $2.60 annually, which translates to a yield of 12.93% on the prevailing price level. Its four-year average dividend yield is 13.57%.
NLY's trailing-12-month cash from operations of $5.08 billion is considerably higher than the industry average of $159.85 million.
During the first quarter that ended March 31, 2024, NLY's interest income increased 37.8% from the prior year's period to $1.09 billion, and its net servicing income increased 34.7% year-over-year to $102.87 million. Its net income came in at $465.17 million, or $0.85 per share, against a net loss of $839.34 million, or $1.79 per share, during the year-ago period, respectively.
NLY's total assets grew at a CAGR of 2.3% over the past three years and at a CAGR of 5.4% over the past year.
Street expects NLY's EPS for the quarter ending September 2024 to increase 1.5% year-over-year to $0.67. The company's revenue is expected to grow 63.7% year-over-year to $1.39 billion for the year ending December 2025.
Over the past three months, the stock has gained 3.2% to close the last trading session at $20.11. The stock is trading above its 50-day moving average of $19.36, indicating an uptrend.
NLY's POWR Ratings reflect its promising outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. 
The stock has an A grade for Growth. Within the <a href="https://stocknews.com/category/reits-mortgage/">REITs - Mortgage</a> industry, NLY is ranked #6 out of 27 stocks.
<a href="https://stocknews.com/stock/NLY/">Click here</a> to access additional ratings of NLY for Stability, Value, Sentiment, Quality, and Momentum.
Wix.com Ltd. (<a href="https://stocknews.com/stock/WIX/">WIX</a>)
Headquartered in Tel Aviv, Israel, WIX develops and markets a cloud-based platform for creating a website or web application in North America, Europe, Latin America, Asia, and internationally. 
On May 16, 2024, WIX announced the launch of three new AI-powered image enhancement and creation tools to help users create and display high-quality images that improve, customize, and personalize visual content to their specific needs.
WIX's trailing-12-month gross profit margin of 67.63% is 36.2% higher than the industry average of 49.66%. Its 4.20% trailing-12-month net income margin is 45.6% higher than the 2.88% industry average.
Over the past three and five years, its revenue grew at CAGRs of 14.3% and 20.2%, respectively, while its total assets grew at a 12.2% CAGR over the past five years.
For the fiscal first quarter that ended March 31, 2024, WIX's revenues and non-GAAP gross profit stood at $304.29 million and $286.74 million, up 9.4% and 17.2% year-over-year, respectively.
For the same quarter, its non-GAAP net income and non-GAAP net income per share stood at $77.29 million and $1.29, up 51.3% and 41.8% from the year-ago quarter, respectively.
Analysts expect WIX's revenue for the second quarter (ending June 2024) to increase 11.2% year-over-year to $433.76 million. The company's EPS is expected to grow 6.7% year-over-year to $1.34 for the same period. Moreover, the company has topped the consensus EPS and revenue estimates in each of the four trailing quarters.
WIX's stock has surged 19% over the past three months to close the last trading session at $161.33. The stock is trading above its 50-day moving average of $142.04, indicating an uptrend.
WIX's POWR Ratings reflect this robust outlook. The stock has an overall rating of B, translating to a Buy in our proprietary rating system. 
The stock has an A grade for Growth and a B for Sentiment and Quality. Within the <a href="https://stocknews.com/category/internet-services/">Internet - Services</a> industry, WIX is ranked #4 out of 28 stocks.
<a href="https://stocknews.com/stock/WIX/">Click here</a> to access additional ratings of WIX for Stability, Momentum, and Value.
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<hr />
SPOT shares were trading at $310.01 per share on Tuesday afternoon, down $1.21 (-0.39%). Year-to-date, SPOT has gained 64.98%, versus a 15.63% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Nidhi Agarwal</h2> <img src='https:/wp-content/uploads/2023/03/Nidhi-Agarwal_Headshot-3.jpg' style="float:left; padding:5px;width:125px;">Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program.

Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.<a href="https://stocknews.com/authors/?author=nidhi-agarwal">More...</a>The post <a href=https://stocknews.com/news/spot-pstg-nly-wix-4-high-growth-stocks-trading-above-their-50-day-moving-average/>4 High-Growth Stocks Trading Above Their 50-Day Moving Average</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

4 High-Growth Stocks Trading Above Their 50-Day Moving Average

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The indispensable role of social media platforms in the digital age has many analysts optimistic about strong buy social <a href="https://investorplace.com/industries/communications/media/">media stocks</a>.&nbsp;



In just a few short years, social media has had a far reaching influence on people and businesses interacting and communicating. The widespread presence and integration of these platforms into our daily lives have made them a force unto itself.&nbsp;



Hence, it comes as no surprise that companies in the space are thriving and growing at unprecedented rates. Experts predict that the number of social media users will <a href="https://www.forbes.com/advisor/in/business/social-media-statistics/#:~:text=The%20social%20media%20app%20market,global%20adoption%20of%205G%20technology.">jump to 5.85 billion</a> by 2027, with the industry experiencing a compound annual growth rate (CAGR) of 26.6% from 2023 to 2030. This will be amplified by artificial intelligence (AI), which will grow the combined market value to a whopping <a href="https://www.skyquestt.com/report/ai-in-social-media-market#:~:text=AI%20In%20Social%20Media%20Market%20Insights,period%20(2023%2D2030).">$9.59 billion by 2030</a>.&nbsp;



These staggering numbers have analysts rating several top names in the sector as strong buys. Investors looking to capitalize on these gains should consider adding these stocks to their portfolios.&nbsp;



<h2>Pinterest (PINS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/pins-1600-1-300x169.png" alt="Pinterest logo. PINS stock."><div>Source: Ink Drop / shutterstock</div></div>When Pinterest (NYSE:<a href="https://investorplace.com/stock-quotes/pins-stock-quote/">PINS</a>) first launched, it served as a platform for people to &ldquo;pin&rdquo; ideas from across the web. Once regarded as a virtual mood board, the company quickly pivoted to transform into a search and e-commerce powerhouse. Today, its primary revenue source is shopping ads and commissions from sales of merchant partner products on its platform.<a href="https://investorplace.com/cryptocurrency//"></a>



The success of Pinterest&rsquo;s e-commerce push was evident in its <a href="https://investor.pinterestinc.com/press-releases/press-releases-details/2024/Pinterest-Announces-First-Quarter-2024-Results-Reports-23-Revenue-Growth-and-More-Than-Half-A-Billion-Monthly-Active-Users/default.aspx">recent earnings report</a>. Revenue rose 23% year-over-year (YOY), its fastest growth rate since 2021. Monthly active user growth remained strong, reaching 518 million at a 12% growth rate. Analysts celebrated the results, with several giving the stock <a href="https://markets.businessinsider.com/news/stocks/pinterest-shifts-to-a-higher-gear-of-growth-analysts-raise-forecasts-after-q1-results-1033314698">a buy rating</a>.&nbsp;



Among the optimists was Piper Sandler that <a href="https://www.marketbeat.com/instant-alerts/nyse-pins-reiterated-rating-2024-06-14/">reiterated its faith</a> in the stock, predicting a price upside of 19.49%. Other analysts echoed this sentiment with Loop Capital giving PINS <a href="https://www.nasdaq.com/articles/deep-dive-pinterest-stock-analyst-perspectives-16-ratings">stock a buy rating</a> and a price target of $49. Citigroup gave the company a similar rating anticipating a price upside of $51. PINS stock is currently trading at $44.&nbsp;



The market sentiments are reflective of Pinterest&rsquo;s strong growth potential. Its ability to sustain user growth and expand the bottom line, makes this one of the top strong buy <a href="https://investorplace.com/industries/communications/media/social-media/">social media stocks</a> on the market.



<h2>Spotify (SPOT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/spot_spotify_1600-300x169.png" alt="Close up view of a smartphone with Spotify (SPOT) logo on display. Laptop and headphone on background. New technology, social media, network, liquid music concept."><div>Source: Fabio Principe / Shutterstock.com</div></div>Spotify (NYSE:<a href="https://investorplace.com/stock-quotes/spot-stock-quote/">SPOT</a>) has revolutionized the world of music streaming services by leveraging a disruptive product and a &ldquo;<a href="https://fourweekmba.com/spotify-business-model/">freemium</a>&rdquo; business model. It has since gown to a $62 billion valuation and amassed 615 million users globally.&nbsp;



The company hopes to continue this upward trajectory by actively expanding its subscriber base and creating new avenues for advertising on its platform. In its efforts to drive this innovation, Spotify recently announced a <a href="https://www.cbsnews.com/news/spotify-price-increase-duo-streaming-service/">hike in its membership prices</a>. The news was well-received by analysts who praised the move.&nbsp;



Morgan Stanley&rsquo;s Benjamin Swinburne <a href="https://www.investors.com/news/technology/spotify-stock-called-best-idea-as-music-streamer-shows-strength/">remains optimistic</a> about the stock&rsquo;s performance giving it a $370 price target.&nbsp;Also, Guggenheim analyst Michael Morris shares a similar sentiment and has maintained a buy rating on this stock since March 2023. He believes this move will help Spotify <a href="https://finance.yahoo.com/news/wall-street-praises-spotify-price-hikes--and-notes-other-audio-streamers-should-follow-suit-153535913.html">unlock underappreciated value</a> and benefit from greater advertising revenue on its platform.&nbsp;



Therefore, the company&rsquo;s numerous growth opportunities and strong user base make it one of the top strong-buy social media stocks.



<h2>Meta Platforms (META)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/fb-stock-meta-1600-300x169.jpg" alt="META stock logo is shown on a device screen. Meta is the new corporate name of Facebook."><div>Source: Blue Planet Studio / Shutterstock.com</div></div>Meta (NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>) has seen unprecedented growth in the last decade and shows several signs of continuing its upward trajectory. The company&rsquo;s strong growth history and technological innovations give analysts and investors ample reasons to stay bullish.



Ad generation, which remains META&rsquo;s core revenue source, has experienced robust growth. It reports a 6% increase YOY <a href="https://investor.fb.com/investor-news/press-release-details/2024/Meta-Reports-First-Quarter-2024-Results/default.aspx">at $35 million</a> in its last quarter. Also, the company was quick to jump on the AI bandwagon. It quickly launched its AI assistant Meta AI and language model, the Meta Llama 3. These investments are expected to yield long-term returns for the company.&nbsp;



Meta Platform&rsquo;s diverse offering and strong market presence have led several analysts to rate the stock as a strong buy. Following Q1 earnings, Goldman Sachs&rsquo; Eric Sheridan <a href="https://www.tipranks.com/news/meta-stock-nasdaqmeta-heres-what-analysts-recommend-post-q1">maintained a buy rating</a> on the stock. He remains confident in META&rsquo;s leadership to navigate investment cycles despite short-term volatility. Further, billionaire investor Dan Loeb has touted Meta as one of his <a href="https://finance.yahoo.com/news/meta-best-growth-stock-buy-121843882.html">favorite growth stocks</a>.&nbsp;&nbsp;



Thus, the company&rsquo;s strong user base and investments in AI make it one of the best strong buy social media stocks on the market right now.&nbsp;



On the date of publication, Divya Premkumar did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Divya has a background in finance and accounting and has worked in FP&amp;A roles at Fortune 500 companies. She is an avid reader and enjoys writing on a variety of topics including stocks, crypto, blockchain and global policy.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/wall-street-favorites-3-social-media-stocks-with-strong-buy-ratings-for-june-2024/">Wall Street Favorites: 3 Social Media Stocks With Strong Buy Ratings for June 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Wall Street Favorites: 3 Social Media Stocks With Strong Buy Ratings for June 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Finding attractive stocks in the financial markets is essential for investors trying to take advantage of expansion prospects. Seven stocks are among the most inexpensive to purchase and keep. These companies are on the cusp on cutting-edge processors, social media and artificial intelligence (AI), semiconductor technology, financial services disruption, cybersecurity solutions leadership, big data analytics specialization and audio streaming dominance.&nbsp;



These businesses are at the top of their respective industries and setting new standards for innovation and profitability. Examining these companies&rsquo; fundamentals, like business practices, competitive positioning and game-changing technology, will help one understand why these stocks are considered excellent investments. Whether it&rsquo;s how their processors are changing computing environments, their AI-driven digital ecosystem is growing or their deliberate focus on AI and data center advances, each firm provides solid arguments for investors looking for the best cheap stocks to purchase and keep.&nbsp;



Here, the emphasis is on what distinguishes these businesses from the competition in the current market by highlighting critical elements that determine their potential and growth paths.



<h2>Advanced Micro Devices (AMD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/12/amd1600-1-300x169.png" alt="Advanced Micro Devices, Inc. (AMD) logo in the building at CNE in Toronto. AMD is an American semiconductor company."><div>Source: JHVEPhoto / Shutterstock.com</div></div>Advanced Micro Devices (NASDAQ:<a href="https://investorplace.com/stock-quotes/amd-stock-quote/">AMD</a>) designs and produces computer processors and related technologies. Sales in the client category reached&nbsp;<a href="https://d1io3yog0oux5.cloudfront.net/_9862ce3fc3945b50391367ac67a44a97/amd/news/2024-04-30_AMD_Reports_First_Quarter_2024_Financial_1192.pdf" target="_blank">$1.4 billion</a>, up 85% from the previous year. Ryzen desktop and mobile CPUs are in high demand, and partners like HP (NYSE:<a href="https://investorplace.com/stock-quotes/hpq-stock-quote/">HPQ</a>) have been major adopters of these processors in business PCs. AMD&rsquo;s client business has grown impressively as well, thanks in part to Ryzen CPUs. Additionally, strong market acceptance and adoption of Ryzen 8000 series CPUs across desktop and mobile platforms reflect the<a href="https://d1io3yog0oux5.cloudfront.net/_9862ce3fc3945b50391367ac67a44a97/amd/news/2024-04-30_AMD_Reports_First_Quarter_2024_Financial_1192.pdf" target="_blank">&nbsp;85% rise</a>&nbsp;in revenue.&nbsp;



Indeed, with its AI accelerators and improved security features, the Ryzen Pro portfolio is designed with industry demands in mind. It has garnered popularity among commercial PC makers, putting AMD in a solid position to take market share in&nbsp;<a href="https://finance.yahoo.com/news/advanced-micro-devices-inc-amd-073128124.html" target="_blank">the enterprise PC space</a>. Despite obstacles, particularly in the embedded area, advances in edge AI present significant potential. To sum up, AMD&rsquo;s Ryzen processors have gained significant market acceptance in both consumer and commercial segments. These elements make AMD an ideal pick among the top <a href="https://investorplace.com/stock-types/undervalued-stocks/">undervalued stocks</a> to buy and hold.



<h2>Meta Platforms (META)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-300x169.png" alt="In this photo illustration the Meta logo seen displayed on a smartphone and in the background the Facebook logo"><div>Source: rafapress / Shutterstock.com</div></div>Meta Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>) operates the largest social media network globally, including Facebook, Instagram and WhatsApp. With&nbsp;<a href="https://s21.q4cdn.com/399680738/files/doc_financials/2024/q1/Meta-03-31-2024-Exhibit-99-1_FINAL.pdf" target="_blank">$36.5 billion</a>&nbsp;in total sales in Q1 2024, Meta recorded a 27% year-over-year (YoY) rise in revenue. Its Family of Apps category contributes significantly to ad income and is the primary driver of this increase. In particular, the segment&rsquo;s ad income increased by 27% to&nbsp;<a href="https://s21.q4cdn.com/399680738/files/doc_financials/2024/q1/Meta-03-31-2024-Exhibit-99-1_FINAL.pdf" target="_blank">$35.6 billion&nbsp;</a>compared to the previous year. Moreover, Meta&rsquo;s worldwide revenue diversification strategy&nbsp;is seen&nbsp;in the multiple revenue streams across several geographic regions, with major gains in Europe (33% growth) and the Rest of the World (40% growth).



Further, with its Meta AI driven by the Llama 3 model, Meta has achieved significant advancements in AI research. This AI assistant is compatible with all of its social media platforms, including Messenger. These developments improve the user experience. They also set the stage for future revenue generation via targeted advertising and user engagement. 



To conclude, Meta&rsquo;s investments in AI and&nbsp;<a href="https://s21.q4cdn.com/399680738/files/doc_financials/2024/q1/META-Q1-2024-Earnings-Call-Transcript.pdf" target="_blank">virtual reality (VR) technologies enhance</a>&nbsp;user engagement and broaden its revenue streams, making it an attractive choice on the undervalued stocks to buy and hold list.



<h2>Intel (INTC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/intc1600-1-300x169.png" alt="Intel (INTC) logo is seen outside of the Robert Noyce Building at Intel Corporation's headquarters in Santa Clara, California."><div>Source: Tada Images / Shutterstock.com</div></div>Intel (NASDAQ:<a href="https://investorplace.com/stock-quotes/intc-stock-quote/">INTC</a>) is a leader in semiconductor manufacturing, designing and microprocessor production for various computing devices. <a href="https://d1io3yog0oux5.cloudfront.net/_b958122e770b3b63fc23174e6afc9055/intel/db/887/9014/earnings_release/Q1+24_EarningsRelease_FINAL.pdf">Over $2.1 billion </a>was added to its operational profit year over year, bringing its operating margin to over 28% (Q1 2024). Despite sales issues, Intel Foundry is making attempts to enhance profitability. Intel&rsquo;s operating profit decreased somewhat from the previous year. However, it may increase as the firm moves to more sophisticated nodes and improves factory utilization.



Additionally, high achievements include the commencement of Intel 20A manufacturing. The launch of Intel 14A utilizes high NA EUV technology. Intel&rsquo;s position in the AI and data center sectors is strengthened by product launches such as the Intel Gaudi 3 AI accelerator. It promises&nbsp;<a href="https://d1io3yog0oux5.cloudfront.net/_b958122e770b3b63fc23174e6afc9055/intel/db/887/9014/earnings_release/Q1+24_EarningsRelease_FINAL.pdf" target="_blank">40% more</a>&nbsp;efficiency and 50% quicker inference than competitors. Even with a&nbsp;<a href="https://d1io3yog0oux5.cloudfront.net/_b958122e770b3b63fc23174e6afc9055/intel/db/887/9014/prepared_remarks/Intel-Earnings-Call-042524-FINAL.pdf" target="_blank">$6.2 billion</a>&nbsp;negative adjusted free cash flow, Intel is confident in its improvements, as good cost control and higher-than-expected gross margins contributed to an EPS that exceeded forecast. 



Overall, Intel&rsquo;s advancements in processor technologies and strategic investments in foundry capabilities position it as a key pick on the undervalued stocks to buy and hold list.



<h2>Block (SQ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/sq-block-1600-300x169.png" alt="Square, Inc. changes name to Block (SQ). Smartphone with Square logo on screen in hand on background of Block logo."><div>Source: Sergei Elagin / Shutterstock.com</div></div>Block (NYSE:<a href="https://investorplace.com/stock-quotes/sq-stock-quote/">SQ</a>) offers financial services and mobile payment solutions through its flagship app. Even though Block devotes less than&nbsp;3% of its resources&nbsp;to Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc/">BTC-US</a><a href="https://investorplace.com/cryptocurrency/btc/">D</a>) related initiatives, its&nbsp;products are now a significant source of income. With very little in associated costs (0.7%) , Cash App&rsquo;s bitcoin goods contributed 3.3% and&nbsp;4.2% of Block&rsquo;s gross profit in 2022 and 2023, respectively. This high-margin industry uses Block&rsquo;s platform to generate extra income.



Moreover, Block has expanded the range of products it offers, such as Cash App Borrow, Cash App Card, and Buy Now, Pay Later, all of which help to drive the company&rsquo;s revenue growth. The growth of ecosystem components like Paid in Bitcoin and Bitcoin Roundups increase user adoption and engagement and generates more money. Block&rsquo;s TBD project intends to create a system for fiat-to-digital currency exchanges to upend the<a href="https://s29.q4cdn.com/628966176/files/doc_financials/2024/q1/1Q24_Prepared-Remarks-from-Earnings-Call_Block.pdf" target="_blank">&nbsp;$860 billion</a>&nbsp;global remittance market. Hence, this program takes advantage of a huge market opportunity and supports Square&rsquo;s objective of democratizing financial access everywhere.&nbsp;



To sum up, Block&rsquo;s disruptive approach to financial services and expansion into cryptocurrency and digital payments make it an appealing choice for undervalued stocks to buy and hold.



<h2>Crowdstrike (CRWD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/crwd-1600-300x169.jpg" alt="A sign with the Crowdstrike (CRWD) company logo"><div>Source: VDB Photos / Shutterstock.com</div></div>Crowdstrike (NASDAQ:<a href="https://investorplace.com/stock-quotes/crwd-stock-quote/">CRWD</a>) provides cybersecurity solutions through its Falcon platform, which leverages AI and cloud technologies. The design of the&nbsp;<a href="https://ir.crowdstrike.com/news-releases/news-release-details/crowdstrike-reports-first-quarter-fiscal-year-2025-financial" target="_blank">Falcon platform&nbsp;is emphasized</a>&nbsp;as a competitive moat that facilitates cybersecurity solution consolidation. Customers experience less complexity due to this consolidation, improving operational effectiveness and security. Customers who adopt several modules do so at&nbsp;<a href="https://ir.crowdstrike.com/news-releases/news-release-details/crowdstrike-reports-first-quarter-fiscal-year-2025-financial" target="_blank">significant rates: 65%&nbsp;</a>adopt five or more modules, 44% adopt six or more, and 28% adopt seven or more modules. The platform&rsquo;s stickiness and range of capabilities in meeting various cybersecurity demands are shown by its modular adoption.



Moreover, partnerships with major players in the market confirm Crowdstrike&rsquo;s leadership in supplying cybersecurity solutions for cloud settings while improving product offerings. The speedy release of new solutions like Falcon for Defender and upgrades such as Falcon Cloud Security and&nbsp;<a href="https://finance.yahoo.com/news/crowdstrike-holdings-inc-nasdaq-crwd-120252222.html" target="_blank">Falcon Next-Gen SIEM showcase Crowdstrike&rsquo;s adaptability</a>&nbsp;and market response. Finally, Crowdstrike&rsquo;s robust growth in revenue and profitability and strong customer retention rates make it one of the undervalued stocks to buy and hold.



<h2>Palantir Technologies (PLTR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/pltr1600-3-300x169.png" alt="Palantir logo on the smartphone and the company share price on the day of opening the trade October 1, 2020. Palantir valued at $15.8bn in stock market debut. PLTR stock"><div>Source: Ascannio / Shutterstock.com</div></div>Palantir Technologies (NYSE:<a href="https://investorplace.com/stock-quotes/pltr-stock-quote/">PLTR</a>) specializes in big data analytics software, serving government agencies and large enterprises. The business recruited 41 net new clients in Q1 2024 alone in the U.S. commercial market, indicating a&nbsp;<a href="https://investors.palantir.com/news-details/2024/Palantir-Reports-Revenue-Growth-of-21-Year-Over-Year-and-Sixth-Consecutive-Quarter-of-GAAP-Profitability-GAAP-EPS-of-0.04-in-Q1-2024/" target="_blank">69% YoY</a> and 19% sequential growth. The business signed a seven-figure agreement five days after finishing a bootcamp with a utility provider, demonstrating a notable deal cycle shortening. Current clients are growing in size and the influence of their deployments. Lowe&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/low-stock-quote/">LOW</a>) and General Mills&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/gis-stock-quote/">GIS</a>) are two examples of companies doing this.



Further, adjusted operating margin rose to&nbsp;<a href="https://investors.palantir.com/news-details/2024/Palantir-Reports-Revenue-Growth-of-21-Year-Over-Year-and-Sixth-Consecutive-Quarter-of-GAAP-Profitability-GAAP-EPS-of-0.04-in-Q1-2024/" target="_blank">57% in Q1 2024</a>.&nbsp;This&nbsp;indicates a balanced growth trajectory with concurrent adjusted operating margins and revenue growth increases. The company produced $149 million in adjusted free cash flow &mdash; a 23% margin reflects sharp cash management and operational edge. Adjusted expenditures&nbsp;<a href="https://finance.yahoo.com/news/palantir-technologies-inc-nyse-pltr-152320024.html" target="_blank">grew by just 2%</a> annually and sequentially, despite growth, highlighting strict cost management. In short, Palantir&rsquo;s strategic contracts and consistent profitability make it an intriguing pick on the undervalued stocks to buy and hold list.



<h2>Spotify (SPOT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/spot_spotify_1600-300x169.png" alt="Close up view of a smartphone with Spotify (SPOT) logo on display. Laptop and headphone on background. New technology, social media, network, liquid music concept."><div>Source: Fabio Principe / Shutterstock.com</div></div>Spotify (NYSE:<a href="https://investorplace.com/stock-quotes/spot-stock-quote/">SPOT</a>) is the leading global audio streaming platform, offering music, podcasts and other audio content. The company reached a record-breaking Q1 2024 gross margin of<a href="https://s29.q4cdn.com/175625835/files/doc_financials/2024/q1/Q1-2024-Shareholder-Deck-FINAL.pdf" target="_blank">&nbsp;27.6%</a>, an increase of 2.43% from the previous year. Favorable content costs and other operational efficiencies were the main drivers of this development, delivering a record-breaking operating income of 168 million euros.&nbsp;This&nbsp;indicates Spotify&rsquo;s progress toward meeting its financial goals. Spotify was able to offset the impact of higher-than-expected social charge accruals by controlling costs and reducing operational expenditures.



Moreover, Spotify produced a positive&nbsp;<a href="https://s29.q4cdn.com/175625835/files/doc_financials/2024/q1/Q1-2024-Shareholder-Deck-FINAL.pdf" target="_blank">207 million euros</a>&nbsp;in free cash flow during the first quarter, demonstrating excellent operational cash production capabilities. Spotify must maintain this positive cash flow position to fortify its financial position and reinvest in its expansion plans. It had<a href="https://s29.q4cdn.com/175625835/files/doc_financials/2024/q1/Q1-24-Earnings-Call-Prepared-Remarks.pdf" target="_blank">&nbsp;4.7 billion euros</a>&nbsp;in short-term investments and cash in Q1 2024. Thanks to its strong liquidity, Spotify has the financial flexibility to fund its current operations and strategic initiatives.



Finally, Spotify&rsquo;s focus on expanding its content library, enhancing the user experience through personalized recommendations and diversifying revenue streams through new features solidifies its presence on the undervalued stocks to buy and hold list.



As of this writing, Yiannis Zourmpanos held long positions in AMD, META, INTC and PLTR. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Yiannis Zourmpanos is the founder of Yiazou Capital Research, a stock-market research platform designed to elevate the due diligence process through in-depth business analysis.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/7-undervalued-stocks-to-buy-and-hold-forever-june-2024-edition/">7 Undervalued Stocks to Buy and Hold Forever: June 2024 Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Undervalued Stocks to Buy and Hold Forever: June 2024 Edition

Spotify offers additional plans for US subscribers; holds niche with audiobooks

There's a lot to be optimistic about in the Communication Services sector as 2 analysts just weighed in on Spotify Technology SA (SPOT – Research R...

Analysts Offer Insights on Communication Services Companies: Spotify Technology SA (SPOT) and Cinemark Holdings (CNK)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
If you are new to the stock market, you might be intimidated by the mere number of stocks available. While not all stocks are ideal, a few can steadily generate returns if held for the long term. When it comes to investing, there is no minimum amount you need to have to start your journey. If you want to start building your investment portfolio with $1,000, you have hundreds of options. 



These three companies have had an excellent 2024 so far. With zero-commission brokerages, it is now possible to put every penny to work. Let&rsquo;s explore three stocks to buy for $1000 this month for steady capital gains in the long term.



<h2>Nvidia (NVDA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/nvda1600-9-300x169.png" alt="Microchip GPU with Nvidia logo in the background. High quality photo. NVDA stock"><div>Source: Rokas Tenys / Shutterstock.com</div></div>One of the top <a href="https://investorplace.com/industries/technology/">tech stocks</a> to buy for $1000 in the current market situation, Nvidia&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) became the most valuable company last week with a market cap of $3 trillion. Its journey is nothing but impressive. Its recent stock split has made the stock affordable for many investors and it is trading for $120 as of Monday. On its way to $150, Nvidia has seen the stock rally after each quarterly results.&nbsp;



NVDA stock has climbed almost 200% in the past year which led to the stock split decision. The company has already proved that it is a strong growth machine and the soaring demand for artificial intelligence (AI) chips will continue to drive growth.



Also, Nvidia is growing stronger and signing contracts with <a href="https://www.firstpost.com/tech/nvidia-to-collaborate-with-indian-govt-to-develop-indias-sovereign-ai-aid-digital-public-infrastructure-13742344.html">governments</a> across the world for its graphic processing units (GPUs). Its&nbsp;<a href="https://nvidianews.nvidia.com/news/nvidia-announces-financial-results-for-first-quarter-fiscal-2025" target="_blank">first-quarter revenue</a>&nbsp;jumped 262% year-over-year (YOY) to $26 billion. And the data center revenue was up 427% to hit $22.6 billion. The AI-driven sales surge will continue throughout the year.&nbsp;



When it comes to artificial intelligence (AI), nobody wants to be left behind. Organizations and governments are pouring money into the industry. Besides AI chips, the company has a presence in the automotive and robotics industry along with <a href="https://venturebeat.com/ai/nvidia-showcases-automotive-partners-and-generatie-ai-for-robotics/">multiple partnerships</a> with automakers.



Therefore, any dip in Nvidia is short-lived. Investing your $1,000 in the stock will set you up for steady gains in the long term.&nbsp;



<h2>Spotify (SPOT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/spot_spotify_1600-300x169.png" alt="Close up view of a smartphone with Spotify (SPOT) logo on display. Laptop and headphone on background. New technology, social media, network, liquid music concept."><div>Source: Fabio Principe / Shutterstock.com</div></div>Up 68% year-to-date (YTD), Spotify&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/spot-stock-quote/">SPOT</a>) has been roaring higher since the start of the year. It was trading at $188 in Jan and is exchanging hands for $314 as of Monday. A leading audio streaming platform, Spotify reported a <a href="https://www.cnbc.com/2024/04/23/spotify-spot-earnings-q1-2024.html">record first quarter</a> with its gross margin reached 27.6%.



In addition, the company reported a record income of 168 million euros using cost control measures like headcount reductions. It is steadily working on the expansion of the content library and improving user experience. With 239 million global subscribers, SPOT is up 14% YOY despite a price hike in key markets.&nbsp;



Moreover, Spotify enjoys high flexibility when it comes to investing in the company&rsquo;s growth. It generated a positive free cash flow of 207 million euros and ended the quarter with a cash balance of 4.7 billion euros. This allows the company to continue investing in its business operations.&nbsp;



Recently, Spotify announced that it will hike the subscription prices again in the U.S. In response to an announcement.&nbsp;<a href="https://finance.yahoo.com/video/consumers-absorb-spotify-price-hike-141624028.html" target="_blank">KeyBanc Director Justin Patterson</a>&nbsp;stated that the consumers&rsquo; willingness to absorb a price hike is very strong. This speaks about the platform and the value it offers the users. Also, the company launched a new basic, <a href="https://www.financialexpress.com/business/brandwagon-spotify-launches-new-basic-streaming-plan-in-us-3533006/">lower-priced plan</a> for users in the U.S.



SPOT holds a very strong position right now, and its upward rally could continue. Over a dozen analysts have a buy rating for the stock.&nbsp;



<h2>Netflix (NFLX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/nflx1600-1-300x169.png" alt="Netflix (NFLX) logo displayed on smartphone on top of pile of money."><div>Source: izzuanroslan / Shutterstock.com</div></div>Streaming giant Netflix&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/nflx-stock-quote/">NFLX</a>) is a household name. Up 46% YTD, the stock is trading for $669 as of Monday. It&rsquo;s been moving higher since the end of April.



Despite strong quarterly results, the stock dipped due to the investor disappointment about the company&rsquo;s decision to no longer disclose the subscriber numbers. However, the dip was short-lived, and Netflix soon took off. It ended the <a href="https://s22.q4cdn.com/959853165/files/doc_financials/2024/q1/FINAL-Q1-24-Shareholder-Letter.pdf">first quarter</a> with 4.84 million subscribers. 



As one of the largest streaming companies globally, Netflix invests a lot of money in creating new and fresh content. This pays off in higher subscribers and higher revenue. It enjoys a first-mover advantage and has seen unstoppable growth over the past 12 months.



To remain ahead of the competition, NFLX is expanding into live entertainment and sports. It has signed a <a href="https://www.nytimes.com/2024/01/23/business/netflix-wwe-raw-wrestling.html">$5 billion deal</a> for the streaming of TV show Raw in 2025. It is soon to strike a deal to <a href="https://www.netflix.com/tudum/articles/nfl-games-on-netflix#:~:text=Netflix%20has%20an%20early%20Christmas,Texans.">air NFL games</a> this coming winter holiday season. Besides churning out new content throughout the year, Netflix will benefit from investing in live content.&nbsp;



On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. She believes in buying and holding for long term gains. Her knowledge of words and numbers helps her write clear stock analysis.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/the-top-3-stocks-to-buy-for-under-1000-in-june/">The Top 3 Stocks to Buy for Under $1,000 in June</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The Top 3 Stocks to Buy for Under $1,000 in June

Analysts Are Bullish on Top Communication Services Stocks: Spotify Technology SA (SPOT), Alphabet Class A (GOOGL)

Tracking Lone Pine Capital Portfolio - Q1 2024 Update

With the first half of 2024 now behind us, here is a snapshot of asset class performance across the financial landscape using US-listed ETFs and other exchange-traded products. For each ETF, we provide total returns for the first half, Q2, and June.

First Half 2024 -- That's A Wrap

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Investing in high <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a> to buy offers an opportunity to multiply one&rsquo;s wealth over the long term. While the stock market is inherently volatile, finding these hidden gems that can outperform the market can lead to substantial gains.&nbsp;



The appeal in these companies lies in their ability to grow their revenue and earnings at an accelerated pace. For investors looking to multiply their $50,000 investment into a quarter of a million dollars by 2035, the journey will require strategic foresight. Investors will also have to analyze the company&rsquo;s financial performance, industry trends, and future growth prospects. Moreover, a delicate balance between risk and reward is paramount to avoid the trap of investing in money losing stocks.



By understanding their business models, financials, and market opportunities, investors can make more informed decisions and capitalize on these high growth opportunities.&nbsp;



Now, let&rsquo;s discover the top 3 high growth stocks to turn $50K into $250K by 2035!



<h2>Alphabet (GOOG,GOOGL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/01/googlelayoffs1600-300x169.png" alt="Closeup logo of Google.com website on an iPhone on wooden table. GOOG stock and Google layoffs"><div>Source: Koshiro K / Shutterstock.com</div></div>Alphabet (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) is undoubtedly one of the best high growth stocks to 5X your money by 2035. The company&rsquo;s dominance in search engine technology, artificial intelligence, and cloud computing provide ample room for growth over the next decade.&nbsp;



Alphabet has been on an absolute tear in the past year with the stock significantly outperforming the broader market. Its stock has risen 34% year to date, as compared to the S&amp;P 500&rsquo;s 16%. Wall Street is particularly excited about its long term growth prospects in artificial intelligence. CEO Sundar Pichai has begun integrating artificial intelligence across its entire technology stack. This is driving its advertising revenue at both Google Search and YouTube. Additionally, its Google Cloud Platform (GCP) is gaining steam, rivaling Amazon Web Services and Microsoft Azure. In the <a href="https://abc.xyz/assets/91/b3/3f9213d14ce3ae27e1038e01a0e0/2024q1-alphabet-earnings-release-pdf.pdf">first quarter of 2024</a>, Alphabet&rsquo;s cloud revenue increased 28% year over year to $9.6 billion. With its advanced AI and ML capabilities, its GCP is well positioned to gain market share, further bolstering Alphabet&rsquo;s long term growth prospects.



<h2>Spotify (SPOT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/spot1600-300x169.jpg" alt="Spotify (SPOT) logo is on the screen of a smartphone with headphones plugged in."><div>Source: Kaspars Grinvalds / Shutterstock.com</div></div>Spotify (NYSE:<a href="https://investorplace.com/stock-quotes/spot-stock-quote/">SPOT</a>), a leading music streaming and podcasting service, has revolutionized how people consume music globally. Boasting more than 600 million monthly active users (MAUs), Spotify has established itself as the dominant player in the music streaming business.&nbsp;



Spotify&rsquo;s growth since the company&rsquo;s founding back in 2006 is driven by its freemium model. It attracts a large user base through its free, ad-supported tier in hopes to convert them into paying subscribers. This model has worked incredibly well over the last decade, scaling its user base while generating recurring revenue from premium subscribers and advertising revenue. Additionally, in its latest quarterly results, management is strategically focused on driving EBITDA margins and scaling profitability. In <a href="https://s29.q4cdn.com/175625835/files/doc_financials/2024/q1/Q1-2024-Shareholder-Deck-FINAL.pdf">Q1 FY24</a>, revenue increased 20% year over year to $3.6 billion. Earnings per share swelled 184% year over year to 97 cents per share, with operating margin up 243 basis points to 27.6%. With Spotify&rsquo;s <a href="https://www.cnbc.com/2024/06/03/spotify-price-increased-again.html">recent hike of premium subscription plans</a>, it is among the top high growth stocks to buy and hold for the long term.&nbsp;



<h2>American Express (AXP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/axp1600-300x169.jpg" alt="an American Express (AXP) credit card sticking out of someone's pocket"><div>Source: Shutterstock</div></div>American Express (NYSE:<a href="https://investorplace.com/stock-quotes/axp-stock-quote/">AXP</a>) is an American financial services company that is synonymous with prestige and exclusivity. As a leading global payments company, American Express offers a range of credit cards, charge cards, and travel-related services.&nbsp;



American Express made a name for itself from its premium card offerings and strong brand loyalty. Its high-spending customer base fuels its growth and drives significant transaction volume and fees. While this is the core of its strategy, a new opportunity has emerged. Management has fully realized the high spending habits and power of the Millenial and Gen Z segments. This has been the key to its strategy, which aims to target these segments to drive long term profitable growth. Since the COVID-19 Pandemic, American Express has been on a roll. Its cash flow has remained strong and it also issued impressive guidance for the 2024 fiscal year, after releasing its <a href="https://s26.q4cdn.com/747928648/files/doc_financials/2024/q1/Q1-2024-Earnings-Press-Release.pdf">first quarter earnings results</a> in April. With revenue and earnings per share anticipated to see double digit growth, AXP stock is among the best high growth stocks to buy now.&nbsp;



On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Terel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/wall-street-oasis-3-growth-stocks-to-turn-50k-into-250k-by-2035/">Wall Street Oasis: 3 Growth Stocks to Turn $50k Into $250K by 2035</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.


Josh GottheimerHouse (D-NJ)	$1K - $15K	Purchase	Aug 21, 2023	Jul 13, 2023	House
Thomas R. SuozziHouse (D-NY)	$50K - $100K	Sale	Jan 11, 2022	Dec 28, 2021	House
Thomas R. SuozziHouse (D-NY)	$50K - $100K	Purchase	Sep 23, 2021	Aug 26, 2021	House
Josh GottheimerHouse (D-NJ)	$1K - $15K	Sale	Aug 09, 2021	Jul 22, 2021	House

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