Spotify Technology S.A. (NYSE: SPOT) has seen a decline in its stock price by -2.11 in relation to its previous close of 275.83. However, the company has experienced a -7.06% decline in its stock price over the last five trading sessions. Schwab Network reported 2024-04-22 that Doesn’t everyone listen to Taylor Swift, asks David Trainer. He spotlights Spotify (SPOT).
Is It Worth Investing in Spotify Technology S.A. (NYSE: SPOT) Right Now?
Additionally, the 36-month beta value for SPOT is 1.60. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 3 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”
The public float for SPOT is 138.81M and currently, short sellers hold a 1.18% ratio of that float. The average trading volume of SPOT on April 22, 2024 was 1.95M shares.
SPOT’s Market Performance
The stock of Spotify Technology S.A. (SPOT) has seen a -7.06% decrease in the past week, with a 3.99% rise in the past month, and a 31.28% gain in the past quarter. The volatility ratio for the week is 3.91%, and the volatility levels for the past 30 days are at 3.43% for SPOT. The simple moving average for the last 20 days is -5.41% for SPOT stock, with a simple moving average of 38.47% for the last 200 days.
Analysts’ Opinion of SPOT
Many brokerage firms have already submitted their reports for SPOT stocks, with JP Morgan repeating the rating for SPOT by listing it as a “Overweight.” The predicted price for SPOT in the upcoming period, according to JP Morgan is $320 based on the research report published on April 08, 2024 of the current year 2024.
Pivotal Research Group, on the other hand, stated in their research note that they expect to see SPOT reach a price target of $390, previously predicting the price at $330. The rating they have provided for SPOT stocks is “Buy” according to the report published on April 05th, 2024.
HSBC Securities gave a rating of “Buy” to SPOT, setting the target price at $310 in the report published on March 27th of the current year.
SPOT Trading at 1.38% 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 -13.78% of loss for the given period.
Volatility was left at 3.43%, however, over the last 30 days, the volatility rate increased by 3.91%, as shares surge +1.93% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.53% upper at present.
During the last 5 trading sessions, SPOT fell by -7.04%, which changed the moving average for the period of 200-days by +72.44% in comparison to the 20-day moving average, which settled at $285.70. In addition, Spotify Technology S.A. saw 43.69% 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 3.55. 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
In conclusion, Spotify Technology S.A. (SPOT) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
