Spotify Technology S.A. (NYSE: SPOT)’s stock price has increased by 1.74 compared to its previous closing price of 123.39. but the company has seen a -0.63% decline in its stock price over the last five trading sessions.
Is It Worth Investing in Spotify Technology S.A. (NYSE: SPOT) Right Now?
and a 36-month beta value of 1.74.
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The public float for SPOT is 140.64M, and at present, short sellers hold a 2.60% of that float. On March 15, 2023, the average trading volume of SPOT was 2.09M shares.
SPOT’s Market Performance
SPOT stock saw an increase of -0.63% in the past week, with a monthly gain of 0.30% and a quarterly increase of 60.60%. The volatility ratio for the week is 3.97%, and the volatility levels for the last 30 days are 3.39% for Spotify Technology S.A. (SPOT). The simple moving average for the last 20 days is 2.68% for SPOT stock, with a simple moving average of 26.40% for the last 200 days.
Analysts’ Opinion of SPOT
Many brokerage firms have already submitted their reports for SPOT stocks, with Redburn repeating the rating for SPOT by listing it as a “Buy.” The predicted price for SPOT in the upcoming period, according to Redburn is $140 based on the research report published on March 01st of the current year 2023.
Wells Fargo, on the other hand, stated in their research note that they expect to see SPOT reach a price target of $180, previously predicting the price at $121. The rating they have provided for SPOT stocks is “Overweight” according to the report published on February 06th, 2023.
Atlantic Equities gave a rating of “Overweight” to SPOT, setting the target price at $160 in the report published on February 06th of the current year.
SPOT Trading at 15.10% from the 50-Day Moving Average
After a stumble in the market that brought SPOT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -21.57% of loss for the given period.
Volatility was left at 3.39%, however, over the last 30 days, the volatility rate increased by 3.97%, as shares surge +2.63% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +58.89% upper at present.
During the last 5 trading sessions, SPOT fell by -0.63%, which changed the moving average for the period of 200-days by +15.40% in comparison to the 20-day moving average, which settled at $122.42. In addition, Spotify Technology S.A. saw 59.01% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for SPOT
Equity return is now at value -18.90, with -5.80 for asset returns.
To sum up, Spotify Technology S.A. (SPOT) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.