The stock of Spotify Technology S.A. (NYSE: SPOT) has decreased by -0.99 when compared to last closing price of 262.81. Despite this, the company has experienced a -0.58% fall in its stock price over the last five trading sessions. Bloomberg Markets and Finance reported 2024-03-27 that Top calls today are Spotify Growth Potential, Disney Target Raised and Lowe’s Downgraded.
Is It Worth Investing in Spotify Technology S.A. (NYSE: SPOT) Right Now?
Moreover, the 36-month beta value for SPOT is 1.63. Analysts have varying opinions on the stock, with 3 analysts rating it as a “buy,” 3 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for SPOT is 138.48M and currently, short sellers hold a 1.28% of that float. On March 28, 2024, SPOT’s average trading volume was 1.83M shares.
SPOT’s Market Performance
The stock of Spotify Technology S.A. (SPOT) has seen a -0.58% decrease in the past week, with a 2.84% rise in the past month, and a 37.03% gain in the past quarter. The volatility ratio for the week is 3.43%, and the volatility levels for the past 30 days are at 2.68% for SPOT. The simple moving average for the past 20 days is -0.06% for SPOT’s stock, with a 41.65% simple moving average for the past 200 days.
Analysts’ Opinion of SPOT
DZ Bank, on the other hand, stated in their research note that they expect to see SPOT reach a price target of $240. The rating they have provided for SPOT stocks is “Hold” according to the report published on February 07th, 2024.
Pivotal Research Group gave a rating of “Buy” to SPOT, setting the target price at $330 in the report published on February 06th of the current year.
SPOT Trading at 7.97% 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 -6.50% of loss for the given period.
Volatility was left at 2.68%, however, over the last 30 days, the volatility rate increased by 3.43%, as shares surge +3.15% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +27.96% upper at present.
During the last 5 trading sessions, SPOT fell by -0.58%, which changed the moving average for the period of 200-days by +72.91% in comparison to the 20-day moving average, which settled at $260.75. In addition, Spotify Technology S.A. saw 38.47% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for SPOT
Current profitability levels for the company are sitting at:
- -0.02 for the present operating margin
- 0.26 for the gross margin
The net margin for Spotify Technology S.A. stands at -0.04. The total capital return value is set at -0.07. Equity return is now at value -21.48, with -6.62 for asset returns.
Based on Spotify Technology S.A. (SPOT), the company’s capital structure generated 0.64 points at debt to capital in total, while cash flow to debt ratio is standing at 0.15. The debt to equity ratio resting at 1.77. The interest coverage ratio of the stock is -2.68.
Currently, EBITDA for the company is -146.0 million with net debt to EBITDA at 25.19. When we switch over and look at the enterprise to sales, we see a ratio of 3.35. The receivables turnover for the company is 15.42for trailing twelve months and the total asset turnover is 1.62. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.29.
Conclusion
To wrap up, the performance of Spotify Technology S.A. (SPOT) has been better in recent times. The stock has received a bullish 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.
