Starbucks launches NFT Marketplace Odyssey
Starbucks has entered the NFT world with the launch of its own marketplace, Odyssey. Starting April 19, 2023, coffee enthusiasts can purchase unique digital images of Starbucks coffee cups for approximately $1,000. These NFTs are now trading among holders on the secondary market, with the last deal closing at $901.
Initially, Starbucks offered the “Holiday Cheer Edition 1 Stamp” for free as part of a loyalty marketing campaign. Customers could earn Odyssey points, which qualified them for an NFT. Now, Starbucks has expanded its collection to include six different NFT collections, with the next highlighting the company’s first location in Seattle’s Pike Place Market, which opened in 1971.
It’s worth noting that buying these NFTs does not come with a side of actual coffee. While Starbucks is known for its expensive coffee, giving up a daily Starbucks habit has often been recommended as a way to save money. In fact, Forbes writer Shawn Carter once calculated that his Starbucks habit costs him $2,300 a year. But for those lucky enough to get the “Holiday Cheer Edition 1 stamp,” Starbucks is now offering a much faster way to potentially get rich.
Starbucks Corporation Stock Analysis: Earnings and Market Performance in 2023
On April 19, 2023, Starbucks Corporation (SBUX) opened at $107.49, slightly lower than the previous day’s close of $107.92. Throughout the day, the stock fluctuated within a narrow range, with the day’s high at $107.85 and the low at $107.11. Trading volume was 166,650, significantly lower than the average volume of 5,868,348 over the past three months. Starbucks’ market value was 123.5 billion dollars.
Starbucks’ earnings growth over the past year was -20.21%, which is a significant decline. However, the company’s profit growth this year has been positive, with a growth rate of 14.51%. Furthermore, Starbucks earnings growth over the next five years is expected to be 19.00%. The company’s turnover growth in the last year was 10.91%.
Starbucks’ price-to-earnings (P/E) ratio was 37.3, which is relatively high. The price-to-sales ratio was 3.03, indicating that the stock may be overvalued.
Starbucks is in the consumer service sector and the restaurant industry. The company’s headquarters are located in Seattle, Washington.
Investors should continue to monitor Starbucks’ financial performance and market trends to make informed investment decisions.
Starbucks Corp Stock Analysis: Forecast Target Price and Hold Rating
On April 19, 2023, Starbucks Corp. stock ( SBUX ) closed at $107.50, and according to the 25 analysts offering 12-month price forecasts, the median target price is $116.00, with a high estimate of $138.00 and a low estimate of $91 ,00. This indicates a potential upside of 7.91% from today’s price.
The consensus among 31 polled investment analysts is to hold shares of Starbucks Corp. This rating has remained stable since April, when it was unchanged from a hold rating.
Looking at the current quarter, Starbucks Corp is expected to report earnings per share of $0.64 and sales of $8.4 billion on May 3, 2023.
Overall, the projected target price and stable rating suggest that Starbucks Corp is a solid investment option, but not one that is expected to experience explosive growth in the near future. Investors should keep an eye on the upcoming earnings report to see how the company is doing and whether it is on track to meet its goals.
