Friday, March 5, 2021

why Spotify Technology S.A. [SPOT] is a Good Choice for Investors After New Price Target of $296.06

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Spotify Technology S.A. [NYSE: SPOT] plunged by -$27.8 during the normal trading session on Wednesday and reaching a high of $327.2999 during the day while it closed the day at $317.25. The company report on February 3, 2021 that Spotify Technology S.A. Announces Financial Results for Fourth Quarter 2020.

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Spotify Technology S.A. (NYSE:SPOT) reported financial results for the fourth fiscal quarter of 2020 ending December 31, 2020.


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This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210203005304/en/.

Spotify Technology S.A. stock has also loss -3.92% of its value over the past 7 days. However, SPOT stock has inclined by 36.98% in the 3 months of the year. Over the past six months meanwhile, it has gained 26.89% and gained 0.82% year-on date.

The market cap for SPOT stock reached $61.40 billion, with 188.84 million shares outstanding and 132.06 million shares in the current float. Compared to the average trading volume of 1.46M shares, SPOT reached a trading volume of 6286581 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Spotify Technology S.A. [SPOT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPOT shares is $296.06 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SPOT stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Nordea have made an estimate for Spotify Technology S.A. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 27, 2021. The new note on the price target was released on January 15, 2021, representing the official price target for Spotify Technology S.A. stock. Previously, the target price had yet another raise to $310, while Barclays analysts kept a Overweight rating on SPOT stock. On December 30, 2020, analysts increased their price target for SPOT shares from 310 to 380.

The Average True Range (ATR) for Spotify Technology S.A. is set at 16.75, with the Price to Sales ratio for SPOT stock in the period of the last 12 months amounting to 6.69. The Price to Book ratio for the last quarter was 20.04, with the Price to Cash per share for the same quarter was set at 11.91. Price to Free Cash Flow for SPOT in the course of the last twelve months was 180.91 with Quick ratio for the last quarter at 0.90.

SPOT stock trade performance evaluation

Spotify Technology S.A. [SPOT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.92. With this latest performance, SPOT shares gained by 2.01% in over the last four-week period, additionally plugging by 26.89% over the last 6 months – not to mention a rise of 105.59% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPOT stock in for the last two-week period is set at 46.06, with the RSI for the last a single of trading hit 42.90, and the three-weeks RSI is set at 48.51 for Spotify Technology S.A. [SPOT]. The present Moving Average for the last 50 days of trading for this stock 321.53, while it was recorded at 327.08 for the last single week of trading, and 254.93 for the last 200 days.

Spotify Technology S.A. [SPOT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Spotify Technology S.A. [SPOT] shares currently have an operating margin of -0.80 and a Gross Margin at +25.25. Spotify Technology S.A.’s Net Margin is presently recorded at -2.75.

Return on Total Capital for SPOT is now -2.25, given the latest momentum, and Return on Invested Capital for the company is -7.74. Return on Equity for this stock declined to -8.90, with Return on Assets sitting at -3.89. When it comes to the capital structure of this company, Spotify Technology S.A. [SPOT] has a Total Debt to Total Equity ratio set at 30.54. Additionally, SPOT Total Debt to Total Capital is recorded at 23.39, with Total Debt to Total Assets ending up at 12.14. Long-Term Debt to Equity for the company is recorded at 30.54, with the Long-Term Debt to Total Capital now at 23.39.

Receivables Turnover for the company is 16.54 with a Total Asset Turnover recorded at a value of 1.41.Spotify Technology S.A.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

Earnings per share (EPS) analysis for Spotify Technology S.A. [SPOT] stock

With the latest financial reports released by the company, Spotify Technology S.A. posted -0.2/share EPS, while the average EPS was predicted by analysts to be reported at -0.49/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 59.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SPOT.

Spotify Technology S.A. [SPOT]: Insider Ownership positions

There are presently around $33,909 million, or 59.60% of SPOT stock, in the hands of institutional investors. The top three institutional holders of SPOT stocks are: BAILLIE GIFFORD & CO with ownership of 21,418,661, which is approximately -3.066% of the company’s market cap and around 29.26% of the total institutional ownership; MORGAN STANLEY, holding 17,940,708 shares of the stock with an approximate value of $5.69 billion in SPOT stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $4.25 billion in SPOT stock with ownership of nearly -8.333% of the company’s market capitalization.

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Positions in Spotify Technology S.A. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 298 institutional holders increased their position in Spotify Technology S.A. [NYSE:SPOT] by around 8,858,126 shares. Additionally, 220 investors decreased positions by around 10,557,447 shares, while 85 investors held positions by with 87,469,645 shares. The mentioned changes placed institutional holdings at 106,885,218 shares, according to the latest SEC report filing. SPOT stock had 122 new institutional investments in for a total of 1,529,979 shares, while 70 institutional investors sold positions of 5,000,172 shares during the same period.

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