Spotify Technology S.A. [NYSE: SPOT] stock went on an upward path that rose over 3.88% on Tuesday, amounting to a one-week price increase of more than 6.57%. The company report on February 6, 2024 at 6:00 AM that Spotify Technology S.A. Releases Financial Results for Fourth Quarter 2023.
Spotify Technology S.A. (NYSE: SPOT) has released its financial results for the fourth quarter of 2023 today. Please visit investors.spotify.com to view the Shareholder Deck and other supplemental materials.
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As previously announced, the company will host a live question and answer session to discuss fourth quarter 2023 financial results at 8:00 a.m. Eastern Time. Daniel Ek, our Founder and Chief Executive Officer, and Paul Vogel, our Chief Financial Officer, will be on hand to answer questions submitted through slido.com using the event code #SpotifyEarningsQ423.
Over the last 12 months, SPOT stock rose by 91.40%. The one-year Spotify Technology S.A. stock forecast points to a potential upside of 3.29. The average equity rating for SPOT stock is currently 1.81, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $44.05 billion, with 193.29 million shares outstanding and 132.46 million shares in the current float. Compared to the average trading volume of 1.64M shares, SPOT stock reached a trading volume of 7769948 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $239.81 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 1.81. 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.
Pivotal Research Group have made an estimate for Spotify Technology S.A. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on Feb-07-24.
The Average True Range (ATR) for Spotify Technology S.A. is set at 6.86, with the Price to Sales ratio for SPOT stock in the period of the last 12 months amounting to 3.24. The Price to Book ratio for the last quarter was 19.98, with the Price to Cash per share for the same quarter was set at 20.71. Price to Free Cash Flow for SPOT in the course of the last twelve months was 199.12 with Quick ratio for the last quarter at 1.27.
SPOT Stock Performance Analysis:
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 6.57. With this latest performance, SPOT shares gained by 19.84% in over the last four-week period, additionally plugging by 63.34% over the last 6 months – not to mention a rise of 91.40% 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 80.99, with the RSI for the last a single of trading hit 85.95, and the three-weeks RSI is set at 76.91 for Spotify Technology S.A. [SPOT]. The present Moving Average for the last 50 days of trading for this stock 198.77, while it was recorded at 222.39 for the last single week of trading, and 165.06 for the last 200 days.
Insight into Spotify Technology S.A. Fundamentals:
Spotify Technology S.A.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.27 and a Current Ratio set at 1.27.
SPOT Stock EPS
With the latest financial reports released by the company, Spotify Technology S.A. posted -1.51/share EPS, while the average EPS was predicted by analysts to be reported at -1.38/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -9.40%. 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.
Spotify Technology S.A. [SPOT] Institutonal Ownership Details
The top three institutional holders of SPOT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SPOT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SPOT stock with ownership which is approximately 5.8325%.
