Spotify Technology S.A. [SPOT] Is Currently -4.37 below its 200 Period Moving Avg: What Does This Mean?

Spotify Technology S.A. [NYSE: SPOT] loss -4.37% or -3.28 points to close at $71.72 with a heavy trading volume of 3527970 shares. The company report on October 25, 2022 that Spotify Technology S.A. Releases Financial Results for Third Quarter 2022.


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Spotify Technology S.A. (NYSE: SPOT) has released its financial results for the third quarter of 2022 by posting an update on its Investor website. Please visit investors.spotify.com to view the update.

As previously announced, the company will host a live question and answer session to discuss third quarter 2022 financial results at 4:30 p.m. Eastern Time. Daniel Ek, our Founder and CEO, and Paul Vogel, our Chief Financial Officer, will be on hand to answer questions submitted through slido.com using the event code #SpotifyEarningsQ322.

It opened the trading session at $73.67, the shares rose to $74.2499 and dropped to $71.45, the range by which the price of stock traded the whole day. The daily chart for SPOT points out that the company has recorded -32.08% loss over the past six months. However, it is still 4.18% lower than its most recent low trading price.

If we look at the average trading volume of 1.72M shares, SPOT reached to a volume of 3527970 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 $116.54 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.

Piper Sandler have made an estimate for Spotify Technology S.A. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 20, 2022. While these analysts kept the previous recommendation, Citigroup dropped their target price from $165 to $150. The new note on the price target was released on July 07, 2022, representing the official price target for Spotify Technology S.A. stock. Previously, the target price had yet another raise from $101 to $124, while Wells Fargo kept a Equal Weight rating on SPOT stock.

The Average True Range (ATR) for Spotify Technology S.A. is set at 5.02, with the Price to Sales ratio for SPOT stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 6.23, with the Price to Cash per share for the same quarter was set at 19.28. Price to Free Cash Flow for SPOT in the course of the last twelve months was 68.53 with Quick ratio for the last quarter at 1.30.

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 -12.26. With this latest performance, SPOT shares dropped by -21.53% in over the last four-week period, additionally sinking by -32.08% over the last 6 months – not to mention a drop of -75.94% 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 30.96, with the RSI for the last a single of trading hit 26.36, and the three-weeks RSI is set at 33.83 for Spotify Technology S.A. [SPOT]. The present Moving Average for the last 50 days of trading for this stock 93.60, while it was recorded at 78.17 for the last single week of trading, and 118.82 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 1.30 and a Current Ratio set at 1.30.

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

There are presently around $7,809 million, or 57.10% of SPOT stock, in the hands of institutional investors. The top three institutional holders of SPOT stocks are: BAILLIE GIFFORD & CO with ownership of 27,964,517, which is approximately 6.736% of the company’s market cap and around 27.18% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 15,762,460 shares of the stock with an approximate value of $1.13 billion in SPOT stocks shares; and MORGAN STANLEY, currently with $762.26 million in SPOT stock with ownership of nearly 0.091% of the company’s market capitalization.

254 institutional holders increased their position in Spotify Technology S.A. [NYSE:SPOT] by around 11,246,880 shares. Additionally, 233 investors decreased positions by around 8,873,731 shares, while 104 investors held positions by with 88,759,953 shares. The mentioned changes placed institutional holdings at 108,880,564 shares, according to the latest SEC report filing. SPOT stock had 72 new institutional investments in for a total of 3,301,150 shares, while 85 institutional investors sold positions of 1,794,790 shares during the same period.

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