The stock of Spotify Technology S.A. (SPOT) has seen a 1.18% increase in the past week, with a 5.55% gain in the past month, and a 32.13% flourish in the past quarter. The volatility ratio for the week is 3.87%, and the volatility levels for the past 30 days are at 4.09% for SPOT. The simple moving average for the past 20 days is -2.91% for SPOT’s stock, with a 42.77% simple moving average for the past 200 days.
Is It Worth Investing in Spotify Technology S.A. (NYSE: SPOT) Right Now?
The 36-month beta value for SPOT is also noteworthy at 1.61. 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 139.53M, and at present, short sellers hold a 1.56% of that float. The average trading volume of SPOT on May 02, 2024 was 2.34M shares.
SPOT) stock’s latest price update
Spotify Technology S.A. (NYSE: SPOT)’s stock price has increased by 1.46 compared to its previous closing price of 280.44. However, the company has seen a 1.18% increase in its stock price over the last five trading sessions. The Motley Fool reported 2024-05-01 that Shopify’s revenue and free cash flow per share are surging, as the company bounces back from its post-pandemic swoon. Sports betting is now legal in 38 U.S. states.
Analysts’ Opinion of SPOT
Many brokerage firms have already submitted their reports for SPOT stocks, with Pivotal Research Group repeating the rating for SPOT by listing it as a “Buy.” The predicted price for SPOT in the upcoming period, according to Pivotal Research Group is $400 based on the research report published on April 23, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see SPOT reach a price target of $320, previously predicting the price at $280. The rating they have provided for SPOT stocks is “Overweight” according to the report published on April 08th, 2024.
Pivotal Research Group gave a rating of “Buy” to SPOT, setting the target price at $390 in the report published on April 05th of the current year.
SPOT Trading at 4.39% 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 -10.89% of loss for the given period.
Volatility was left at 4.09%, however, over the last 30 days, the volatility rate increased by 3.87%, as shares sank -2.48% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +16.90% upper at present.
During the last 5 trading sessions, SPOT rose by +1.18%, which changed the moving average for the period of 200-days by +58.81% in comparison to the 20-day moving average, which settled at $292.70. In addition, Spotify Technology S.A. saw 51.42% 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:
- 0.0 for the present operating margin
- 0.27 for the gross margin
The net margin for Spotify Technology S.A. stands at -0.01. The total capital return value is set at 0.0. Equity return is now at value -3.90, with -1.33 for asset returns.
Based on Spotify Technology S.A. (SPOT), the company’s capital structure generated 0.55 points at debt to capital in total, while cash flow to debt ratio is standing at 0.21. The debt to equity ratio resting at 1.22. The interest coverage ratio of the stock is 0.14.
Currently, EBITDA for the company is -146.0 million with net debt to EBITDA at -5.89. 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 17.71for trailing twelve months and the total asset turnover is 1.56. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.42.
Conclusion
In summary, Spotify Technology S.A. (SPOT) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing 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.
