Spotify Technology S.A. [SPOT] gain 55.27% so far this year. What now?

Spotify Technology S.A. [NYSE: SPOT] traded at a high on Wednesday, posting a 8.23 gain after which it closed the day’ session at $291.77. The company report on March 26, 2024 at 6:00 AM that Spotify Technology S.A. to Announce Financial Results for First Quarter 2024.

Spotify Technology S.A. (NYSE: SPOT) will post its first quarter 2024 financial results and deck to shareholders on Tuesday, April 23, 2024 before market open.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

The company will hold a question and answer session to discuss first quarter 2024 financial results at 8:00 am Eastern Time. Management will answer questions submitted via Slido. Questions may be submitted on the day of the call at www.slido.com using the event code #SpotifyEarningsQ124.

The results of the trading session contributed to over 4625837 shares changing hands. Over the past one week, the price volatility of Spotify Technology S.A. stands at 3.97% while the volatility over the past one month is 2.90%.

The market cap for SPOT stock reached $56.64 billion, with 197.14 million shares outstanding and 138.48 million shares in the current float. Compared to the average trading volume of 1.86M shares, SPOT reached a trading volume of 4625837 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 $269.65 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 1.94. 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.

HSBC Securities have made an estimate for Spotify Technology S.A. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 27, 2024. The new note on the price target was released on February 07, 2024, representing the official price target for Spotify Technology S.A. stock. Previously, the target price had yet another raise from $265 to $330, while Pivotal Research Group kept a Buy rating on SPOT stock. On January 30, 2024, analysts increased their price target for SPOT shares from 170 to 274.

The Average True Range (ATR) for Spotify Technology S.A. is set at 8.82, with the Price to Sales ratio for SPOT stock in the period of the last 12 months amounting to 3.96. The Price to Book ratio for the last quarter was 20.64, with the Price to Cash per share for the same quarter was set at 23.98. Price to Free Cash Flow for SPOT in the course of the last twelve months was 77.88 with Quick ratio for the last quarter at 1.29.

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 11.02. With this latest performance, SPOT shares gained by 8.06% in over the last four-week period, additionally plugging by 84.54% over the last 6 months – not to mention a rise of 118.36% 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 77.35, with the RSI for the last a single of trading hit 82.54, and the three-weeks RSI is set at 74.61 for Spotify Technology S.A. [SPOT]. The present Moving Average for the last 50 days of trading for this stock 247.69, while it was recorded at 270.38 for the last single week of trading, and 186.67 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 1.29 and a Current Ratio set at 1.29.

Earnings analysis for Spotify Technology S.A. [SPOT]

With the latest financial reports released by the company, Spotify Technology S.A. posted -1.27/share EPS, while the average EPS was predicted by analysts to be reported at -0.92/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -38.00%. 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.

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

The top three institutional holders of SPOT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SPOT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SPOT stock with ownership which is approximately 5.8386%.

Most Popular