Spotify Technology S.A. [SPOT] is -18.38% lower this YTD. Is it still time to buy?

Spotify Technology S.A. [NYSE: SPOT] loss -12.32% on the last trading session, reaching $256.84 price per share at the time. The company report on April 28, 2021 that Spotify Technology S.A. Announces Financial Results for First Quarter 2021.

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Spotify Technology S.A. (NYSE:SPOT) reported financial results for the first fiscal quarter of 2021 ending March 31, 2021.

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Spotify Technology S.A. represents 189.87 million in outstanding shares, while the company has a total market value of $45.60 billion with the latest information. SPOT stock price has been found in the range of $255.16 to $270.16.

If compared to the average trading volume of 1.62M shares, SPOT reached a trading volume of 7748318 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $320.63 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 2.60. 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.

Jefferies have made an estimate for Spotify Technology S.A. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 23, 2021. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on April 06, 2021, representing the official price target for Spotify Technology S.A. stock. Previously, the target price had yet another raise to $310, while Citigroup analysts kept a Neutral rating on SPOT stock.

The Average True Range (ATR) for Spotify Technology S.A. is set at 13.93, with the Price to Sales ratio for SPOT stock in the period of the last 12 months amounting to 4.82. The Price to Book ratio for the last quarter was 14.47, with the Price to Cash per share for the same quarter was set at 11.82. Price to Free Cash Flow for SPOT in the course of the last twelve months was 209.64 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for SPOT stock

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 -1.86. With this latest performance, SPOT shares gained by 1.68% in over the last four-week period, additionally sinking by -9.87% over the last 6 months – not to mention a rise of 83.75% 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 41.16, with the RSI for the last a single of trading hit 38.31, and the three-weeks RSI is set at 42.59 for Spotify Technology S.A. [SPOT]. The present Moving Average for the last 50 days of trading for this stock 288.02, while it was recorded at 279.41 for the last single week of trading, and 283.99 for the last 200 days.

Spotify Technology S.A. [SPOT]: A deeper dive into fundamental analysis

Spotify Technology S.A.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Spotify Technology S.A. [SPOT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Spotify Technology S.A. posted -2.23/share EPS, while the average EPS was predicted by analysts to be reported at -0.53/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -320.80%. 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.

An analysis of insider ownership at Spotify Technology S.A. [SPOT]

There are presently around $28,613 million, or 60.60% of SPOT stock, in the hands of institutional investors. The top three institutional holders of SPOT stocks are: BAILLIE GIFFORD & CO with ownership of 20,795,970, which is approximately -2.907% of the company’s market cap and around 28.30% of the total institutional ownership; MORGAN STANLEY, holding 17,835,062 shares of the stock with an approximate value of $4.58 billion in SPOT stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $3.66 billion in SPOT stock with ownership of nearly 6.458% of the company’s market capitalization.

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305 institutional holders increased their position in Spotify Technology S.A. [NYSE:SPOT] by around 9,628,460 shares. Additionally, 243 investors decreased positions by around 6,341,254 shares, while 85 investors held positions by with 95,435,544 shares. The mentioned changes placed institutional holdings at 111,405,258 shares, according to the latest SEC report filing. SPOT stock had 97 new institutional investments in for a total of 993,795 shares, while 73 institutional investors sold positions of 829,882 shares during the same period.

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