Spotify Turns Up The Volume On Pricing, Premium Plans See A Hike
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2024
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Source: Benzinga
- Spotify Price Increase: Spotify raised prices for its premium plans in the U.S., with individual plan now at $11.99, duo plan at $16.99, and family plan at $19.99.
- Enhancing Profit Margins: The price hike is part of Spotify's efforts to boost profit margins, including reducing marketing expenses and layoffs.
- Competition and Innovation: Facing competition from Apple and Amazon, Spotify emphasizes the need to invest in and innovate its product offerings.
- Subscriber Growth: Spotify reported a 14% increase in premium subscribers to 239 million, with a forecast of 631 million monthly active users for the second quarter.
- Stock Performance: Spotify stock has gained over 99% in the last 12 months, currently trading higher by 4.83% at $311.12.
Analyst Views on AMZN
Wall Street analysts forecast AMZN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMZN is 294.69 USD with a low forecast of 250.00 USD and a high forecast of 340.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
47 Analyst Rating
46 Buy
1 Hold
0 Sell
Strong Buy
Current: 234.340
Low
250.00
Averages
294.69
High
340.00
Current: 234.340
Low
250.00
Averages
294.69
High
340.00
About AMZN
Amazon.com, Inc. provides a range of products and services to customers. The products offered through its stores include merchandise and content it has purchased for resale and products offered by third-party sellers. The Company’s segments include North America, International and Amazon Web Services (AWS). It serves consumers through its online and physical stores and focuses on selection, price, and convenience. Customers access its offerings through its websites, mobile apps, Alexa, devices, streaming, and physically visiting its stores. It also manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, Ring, Blink, and eero, and develops and produces media content. It serves developers and enterprises of all sizes, including start-ups, government agencies, and academic institutions, through AWS, which offers a set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
