#6 - Spotify (NYSE:SPOT)
Spotify (NYSE:SPOT) may not be top of mind as a social media platform. However, the streaming music platform does provide a platform for artists to personalize their profiles and it has a community aspect where listeners can see what their followers are listening to. At the end of the last quarter, the company had 165 million subscribers.
Like LinkedIn, Spotify doesn’t solely rely on ad revenue. The company's premium service, Spotify Premium, is a popular option that offers listeners a compelling offer of ad-free music. The company’s recent pivot into podcasts is moving the company into an area of the streaming audio sector that is showing no signs of being oversaturated.
Like Pinterest, SPOT stock is down for the year. In this case by 20%. However, the consensus opinion of analysts suggests that Spotify can recover most of this gain in the next 12 months. I wouldn’t say that Spotify has a low valuation. However, with a market cap of just below $45 billion it puts the company’s price-to-sales ratio at 4.4.
About Spotify Technology
Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It 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.
Read More - Current Price
- $476.74
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 5 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $421.69 (11.5% Downside)
