Redburn slashes price target on Spotify Technology S.A. [SPOT] – find out why.

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Spotify Technology S.A. [NYSE: SPOT] loss -1.54% on the last trading session, reaching $110.41 price per share at the time. The company report on April 5, 2022 that GoldSpot Discoveries Recaps Transformational Growth in 2021, Setting Stage for 2022 Development Strategy.

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Acquisitions of Ridgeline, Geotic & CEO.CA bolster GoldSpot’s client offering across the mining 2.0 value chain.

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Spotify Technology S.A. represents 191.96 million in outstanding shares, while the company has a total market value of $23.55 billion with the latest information. SPOT stock price has been found in the range of $105.40 to $114.515.

If compared to the average trading volume of 2.48M shares, SPOT reached a trading volume of 4848834 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 $218.62 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 2.40. 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.

Redburn have made an estimate for Spotify Technology S.A. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 25, 2022. While these analysts kept the previous recommendation, Rosenblatt raised their target price to Neutral. The new note on the price target was released on April 19, 2022, representing the official price target for Spotify Technology S.A. stock. Previously, the target price had yet another raise to $140, while Deutsche Bank analysts kept a Hold rating on SPOT stock. On February 03, 2022, analysts decreased their price target for SPOT shares from 260 to 220.

The Average True Range (ATR) for Spotify Technology S.A. is set at 8.76, with the Price to Sales ratio for SPOT stock in the period of the last 12 months amounting to 2.25. The Price to Book ratio for the last quarter was 9.23, with the Price to Cash per share for the same quarter was set at 17.78. Price to Free Cash Flow for SPOT in the course of the last twelve months was 78.73 with Quick ratio for the last quarter at 1.40.

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 -19.65. With this latest performance, SPOT shares dropped by -24.40% in over the last four-week period, additionally sinking by -57.19% over the last 6 months – not to mention a drop of -62.31% 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 28.52, with the RSI for the last a single of trading hit 22.42, and the three-weeks RSI is set at 32.43 for Spotify Technology S.A. [SPOT]. The present Moving Average for the last 50 days of trading for this stock 141.61, while it was recorded at 113.57 for the last single week of trading, and 210.63 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Spotify Technology S.A. [SPOT] shares currently have an operating margin of +1.04 and a Gross Margin at +26.54. Spotify Technology S.A.’s Net Margin is presently recorded at -0.35.

Return on Equity for this stock declined to -1.38, with Return on Assets sitting at -0.51.

Spotify Technology S.A.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.

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

There are presently around $12,422 million, or 59.70% of SPOT stock, in the hands of institutional investors. The top three institutional holders of SPOT stocks are: BAILLIE GIFFORD & CO with ownership of 22,136,902, which is approximately -0.88% of the company’s market cap and around 27.31% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 16,102,881 shares of the stock with an approximate value of $1.81 billion in SPOT stocks shares; and MORGAN STANLEY, currently with $1.45 billion in SPOT stock with ownership of nearly -3.431% of the company’s market capitalization.

Positions in Spotify Technology S.A. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 331 institutional holders increased their position in Spotify Technology S.A. [NYSE:SPOT] by around 10,160,118 shares. Additionally, 238 investors decreased positions by around 7,109,990 shares, while 101 investors held positions by with 93,502,041 shares. The mentioned changes placed institutional holdings at 110,772,149 shares, according to the latest SEC report filing. SPOT stock had 129 new institutional investments in for a total of 3,885,676 shares, while 71 institutional investors sold positions of 1,538,298 shares during the same period.