Spotify (SPOT) closed at $372.60 in the latest trading session, marking a +0.03% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.75%, and the Nasdaq, a tech-heavy index, lost 1.01%.

The music-streaming service operator's stock has climbed by 9.94% in the past month, exceeding the Business Services sector's gain of 3.52% and the S&P 500's gain of 4.31%.

Analysts and investors alike will be keeping a close eye on the performance of Spotify in its upcoming earnings disclosure. The company is expected to report EPS of $1.79, up 397.22% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $4.38 billion, indicating a 19.83% growth compared to the corresponding quarter of the prior year.

SPOT's full-year Zacks Consensus Estimates are calling for earnings of $6.24 per share and revenue of $17.1 billion. These results would represent year-over-year changes of +311.53% and +19.36%, respectively.

Investors should also take note of any recent adjustments to analyst estimates for Spotify. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.2% lower. Right now, Spotify possesses a Zacks Rank of #4 (Sell).

Looking at its valuation, Spotify is holding a Forward P/E ratio of 59.73. This valuation marks a premium compared to its industry's average Forward P/E of 26.69.

The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 77, positioning it in the top 31% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.