Market Analysts see Spotify Technology S.A. [SPOT] falling to $150. Time to buy?


Spotify Technology S.A. [NYSE: SPOT] jumped around 2.37 points on Thursday, while shares priced at $115.62 at the close of the session, up 2.09%. The company report on June 27, 2022 that Spotify Technology S.A. to Announce Financial Results for Second Quarter 2022.

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Spotify Technology S.A. (NYSE: SPOT) will post its second quarter 2022 financial results and letter to shareholders on Wednesday, July 27, 2022 before market open.

The company will hold a question and answer session to discuss second quarter 2022 financial results at 8:00am Eastern Time. Management will answer questions submitted via Slido. Questions may be submitted the day of the call at using the event code #SpotifyEarningsQ222.

Spotify Technology S.A. stock is now -50.60% down from its year-to-date (YTD) trading value. SPOT Stock saw the intraday high of $115.80 and lowest of $111.70 per share. The company’s 52-week high price is 305.60, which means current price is +29.87% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 2.47M shares, SPOT reached a trading volume of 2372791 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $145.10 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.

Citigroup have made an estimate for Spotify Technology S.A. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 07, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $101 to $124. The new note on the price target was released on June 15, 2022, representing the official price target for Spotify Technology S.A. stock. Previously, the target price had yet another raise to $150, while Raymond James analysts kept a Outperform rating on SPOT stock. On April 28, 2022, analysts decreased their price target for SPOT shares from 235 to 110.

The Average True Range (ATR) for Spotify Technology S.A. is set at 5.55, with the Price to Sales ratio for SPOT stock in the period of the last 12 months amounting to 2.06. The Price to Book ratio for the last quarter was 10.35, with the Price to Cash per share for the same quarter was set at 19.54. Price to Free Cash Flow for SPOT in the course of the last twelve months was 79.90 with Quick ratio for the last quarter at 1.40.

How has SPOT stock performed recently?

Spotify Technology S.A. [SPOT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.04. With this latest performance, SPOT shares gained by 14.02% in over the last four-week period, additionally sinking by -44.24% over the last 6 months – not to mention a drop of -53.36% 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 62.32, with the RSI for the last a single of trading hit 70.21, and the three-weeks RSI is set at 57.14 for Spotify Technology S.A. [SPOT]. The present Moving Average for the last 50 days of trading for this stock 104.44, while it was recorded at 108.69 for the last single week of trading, and 172.93 for the last 200 days.

Spotify Technology S.A. [SPOT]: Deeper insight into the fundamentals

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.

Insider trade positions for Spotify Technology S.A. [SPOT]

There are presently around $12,013 million, or 57.30% of SPOT stock, in the hands of institutional investors. The top three institutional holders of SPOT stocks are: BAILLIE GIFFORD & CO with ownership of 23,228,574, which is approximately 4.931% of the company’s market cap and around 27.24% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 15,947,931 shares of the stock with an approximate value of $1.81 billion in SPOT stocks shares; and MORGAN STANLEY, currently with $1.2 billion in SPOT stock with ownership of nearly -17.742% of the company’s market capitalization.

279 institutional holders increased their position in Spotify Technology S.A. [NYSE:SPOT] by around 12,134,186 shares. Additionally, 301 investors decreased positions by around 16,844,790 shares, while 89 investors held positions by with 77,096,350 shares. The mentioned changes placed institutional holdings at 106,075,326 shares, according to the latest SEC report filing. SPOT stock had 82 new institutional investments in for a total of 5,533,227 shares, while 132 institutional investors sold positions of 3,471,523 shares during the same period.