Spotify Technology S.A. [NYSE: SPOT] surged by $1.95 during the normal trading session on Thursday and reaching a high of $228.76 during the day while it closed the day at $225.27. The company report on July 28, 2021 that Spotify Technology S.A. Announces Financial Results for Second Quarter 2021.
Spotify Technology S.A. (NYSE:SPOT):.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210728005343/en/.
Spotify Technology S.A. stock has also loss -7.74% of its value over the past 7 days. However, SPOT stock has declined by -14.07% in the 3 months of the year. Over the past six months meanwhile, it has lost -30.78% and lost -28.41% year-on date.
The market cap for SPOT stock reached $42.94 billion, with 190.56 million shares outstanding and 135.59 million shares in the current float. Compared to the average trading volume of 1.45M shares, SPOT reached a trading volume of 2536871 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 $320.37 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 2.50. 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.
UBS have made an estimate for Spotify Technology S.A. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 29, 2021. While these analysts kept the previous recommendation, Guggenheim raised their target price from $245 to $265. The new note on the price target was released on July 29, 2021, representing the official price target for Spotify Technology S.A. stock. Previously, the target price had yet another raise to $170, while Redburn analysts kept a Sell rating on SPOT stock.
The Average True Range (ATR) for Spotify Technology S.A. is set at 9.01, with the Price to Sales ratio for SPOT stock in the period of the last 12 months amounting to 4.46. The Price to Book ratio for the last quarter was 11.24, with the Price to Cash per share for the same quarter was set at 19.05. Price to Free Cash Flow for SPOT in the course of the last twelve months was 150.15 with Quick ratio for the last quarter at 1.30.
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 -7.74. With this latest performance, SPOT shares dropped by -17.44% in over the last four-week period, additionally sinking by -30.78% over the last 6 months – not to mention a drop of -14.09% 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 30.86, with the RSI for the last a single of trading hit 23.80, and the three-weeks RSI is set at 36.07 for Spotify Technology S.A. [SPOT]. The present Moving Average for the last 50 days of trading for this stock 247.37, while it was recorded at 233.95 for the last single week of trading, and 280.32 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 -3.49 and a Gross Margin at +25.34. Spotify Technology S.A.’s Net Margin is presently recorded at -7.37.
Return on Total Capital for SPOT is now -8.80, given the latest momentum, and Return on Invested Capital for the company is -18.60. Return on Equity for this stock declined to -23.16, with Return on Assets sitting at -9.82. 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 20.57. Additionally, SPOT Total Debt to Total Capital is recorded at 17.06, with Total Debt to Total Assets ending up at 9.12. Long-Term Debt to Equity for the company is recorded at 20.57, with the Long-Term Debt to Total Capital now at 17.06.
Receivables Turnover for the company is 17.47 with a Total Asset Turnover recorded at a value of 1.33.Spotify Technology S.A.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.
Spotify Technology S.A. [SPOT]: Insider Ownership positions
There are presently around $25,378 million, or 60.40% of SPOT stock, in the hands of institutional investors. The top three institutional holders of SPOT stocks are: BAILLIE GIFFORD & CO with ownership of 21,028,506, which is approximately 1.118% of the company’s market cap and around 28.30% of the total institutional ownership; MORGAN STANLEY, holding 18,676,202 shares of the stock with an approximate value of $4.21 billion in SPOT stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $2.93 billion in SPOT stock with ownership of nearly -8.807% of the company’s market capitalization.
Positions in Spotify Technology S.A. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 299 institutional holders increased their position in Spotify Technology S.A. [NYSE:SPOT] by around 7,903,330 shares. Additionally, 243 investors decreased positions by around 6,864,161 shares, while 98 investors held positions by with 97,887,873 shares. The mentioned changes placed institutional holdings at 112,655,364 shares, according to the latest SEC report filing. SPOT stock had 83 new institutional investments in for a total of 1,491,437 shares, while 81 institutional investors sold positions of 1,040,078 shares during the same period.