250.10 -0.66 (-0.26%)
After hours: 4:34PM EDT
|Bid||249.50 x 1000|
|Ask||250.89 x 1000|
|Day's range||250.01 - 259.19|
|52-week range||109.18 - 299.67|
|Beta (5Y monthly)||1.65|
|PE ratio (TTM)||N/A|
|Earnings date||26 Oct 2020 - 30 Oct 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||253.23|
Spotify (NYSE: SPOT) CEO Daniel Ek described a virtuous cycle around podcasts on several occasions during the company's second-quarter earnings call. In 2013, Netflix executives said they'd view long-term success as "having substantially larger revenue [versus competitors] and therefore sustainable increasing content, tech, and marketing spending, leading to further growth, and a virtuous cycle." Indeed, Netflix has proven that cycle works very well over the last seven years, growing its subscriber base while increasing pricing.
High-growth stocks often come from some of the most disruptive and innovative companies on the market. The three companies that I think are great growth stocks and hold a durable competitive advantage are Spotify (NYSE: SPOT), Okta (NASDAQ: OKTA), and Zendesk (NYSE: ZEN). Spotify was built on making the world's music accessible to users with ad-supported or premium monthly plans.
Podcasts have taken the media industry by storm. A recent study by Infinite Dial indicated that the podcast industry is growing at a rapid rate with over 100 million Americans having listened to a podcast in the last month. With kind of fan base, it should come as no surprise that media companies such as Spotify (NYSE: SPOT) and The New York Times (NYSE: NYT) are investing in this space to have a presence where listeners are increasingly getting their news and entertainment.