Spotify stock finished its last five post-earnings sessions higher
Music streaming name Spotify Technology SA (NYSE:SPOT) is preparing for its latest quarterly earnings report, due out before the open Tuesday, February 4. The stock has a bright earnings history, finishing its last five post-earnings sessions higher and closing only one next-day session lower over the past two years.
The stock has already been outperforming on the charts recently, too, hitting a record high of $560.36 just last session before turning lower. Today, the shares were last seen up 0.4% at $550.50, adding to their 23% year-to-date gain.
When considering tomorrow's potential earnings move, it's worth noting that there is still room for optimism amongst the brokerage bunch. Of the 29 analysts in coverage, nine carry a "hold" or worse rating despite the stock's recent peak.
Furthermore, though shorts have been covering their positions over the last month, short interest still represents 4.5% of the stock's available float. This leaves a bit of short squeeze potential left over as well.