Moreover, the 36-month beta value for SPOT is 1.64. Analysts have varying opinions on the stock, with 14 analysts rating it as a “buy,” 5 as “overweight,” 14 as “hold,” and 0 as “sell.”
The average price recommended by analysts for Spotify Technology S.A. (SPOT) is $175.99, which is $14.49 above the current market price. The public float for SPOT is 132.81M and currently, short sellers hold a 1.60% of that float. On November 16, 2023, SPOT’s average trading volume was 1.66M shares.
SPOT) stock’s latest price update
The stock price of Spotify Technology S.A. (NYSE: SPOT) has plunged by -0.37 when compared to previous closing price of 174.41, but the company has seen a 2.23% gain in its stock price over the last five trading sessions. Stockmarketcom reported 2023-11-14 that Tech stocks to watch this month.
SPOT’s Market Performance
Spotify Technology S.A. (SPOT) has seen a 2.23% rise in stock performance for the week, with a 10.44% gain in the past month and a 32.07% surge in the past quarter. The volatility ratio for the week is 2.36%, and the volatility levels for the past 30 days are at 3.51% for SPOT. The simple moving average for the last 20 days is 6.10% for SPOT stock, with a simple moving average of 19.49% for the last 200 days.
Analysts’ Opinion of SPOT
Many brokerage firms have already submitted their reports for SPOT stocks, with TD Cowen repeating the rating for SPOT by listing it as a “Market Perform.” The predicted price for SPOT in the upcoming period, according to TD Cowen is $129 based on the research report published on October 23, 2023 of the current year 2023.
SPOT Trading at 8.83% 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 -4.53% of loss for the given period.
Volatility was left at 3.51%, however, over the last 30 days, the volatility rate increased by 2.36%, as shares surge +16.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.28% upper at present.
During the last 5 trading sessions, SPOT rose by +2.23%, which changed the moving average for the period of 200-days by +54.15% in comparison to the 20-day moving average, which settled at $165.02. In addition, Spotify Technology S.A. saw 120.09% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for SPOT
Equity return is now at value -34.80, with -9.99 for asset returns.
To wrap up, the performance of Spotify Technology S.A. (SPOT) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.