Spotify Technology S.A. (SPOT) Outlook Starting To Look Brighter?

Spotify Technology S.A. (SPOT) concluded trading on Wednesday at a closing price of $291.77, with 4.63 million shares of worth about $1.35 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 84.54% during that period and on April 3, 2024 the price saw a gain of about 8.23%. Currently the company’s common shares owned by public are about 197.14M shares, out of which, 138.48M shares are available for trading.

However, the stock later moved at a day high price of 293.00, or with a gain of 8.23%. Stock saw a price change of 11.02% in past 5 days and over the past one month there was a price change of 8.06%. Year-to-date (YTD), SPOT shares are showing a performance of 55.27% which increased to 118.36% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $128.67 but also hit the highest price of $278.30 during that period. The average intraday trading volume for Spotify Technology S.A. shares is 1.86 million. The stock is currently trading 11.69% above its 20-day simple moving average (SMA20), while that difference is up 18.62% for SMA50 and it goes to 56.89% higher than SMA200.

Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '24.

Small-cap Uranium stocks are booming in 2024! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!

Get the FREE Report with all the details here.


Sponsored

Spotify Technology S.A. (NYSE: SPOT) currently have 197.14M outstanding shares and institutions hold larger chunk of about 57.73% of that.

The stock has a current market capitalization of $56.64B and its 3Y-monthly beta is at 1.64. It has posted earnings per share of -$2.96 in the same period. It has Quick Ratio of 1.29 while making debt-to-equity ratio of 0.67. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SPOT, volatility over the week remained 3.97% while standing at 2.90% over the month.

Analysts are in expectations that Spotify Technology S.A. (SPOT) stock would likely to be making an EPS of $0.77 in the current quarter, while forecast for next quarter EPS is $0.82 and it is $5.78 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.34 which is $1.1 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.27 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 231.62% while it is estimated to increase by 40.85% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by HSBC Securities on March 27, 2024 offering a Buy rating for the stock and assigned a target price of $310 to it. Coverage by DZ Bank stated Spotify Technology S.A. (SPOT) stock as a Hold in their note to investors on February 07, 2024, suggesting a price target of $240 for the stock. On February 06, 2024, Pivotal Research Group Reiterated their recommendations, while on January 30, 2024, UBS Upgrade their ratings for the stock with a price target of $274. Stock get a Buy rating from Pivotal Research Group on December 21, 2023.

Most Popular

Related Posts