Moreover, the 36-month beta value for SPOT is 1.59. 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.”
The public float for SPOT is 140.21M and currently, short sellers hold a 2.05% of that float. On July 04, 2024, SPOT’s average trading volume was 2.07M shares.
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SPOT) stock’s latest price update
Spotify Technology S.A. (NYSE: SPOT) has experienced a decline in its stock price by -0.38 compared to its previous closing price of 315.55. However, the company has seen a fall of -1.45% in its stock price over the last five trading days. investorplace.com reported 2024-07-03 that An average American spends about 2 hours and 23 minutes daily on social media apps. While it has its positives and negatives, we must look at the bigger picture and understand the role of social media in our lives.
SPOT’s Market Performance
Spotify Technology S.A. (SPOT) has experienced a -1.45% fall in stock performance for the past week, with a 0.23% rise in the past month, and a 7.74% rise in the past quarter. The volatility ratio for the week is 2.71%, and the volatility levels for the past 30 days are at 3.01% for SPOT. The simple moving average for the past 20 days is -0.19% for SPOT’s stock, with a 34.78% simple moving average for the past 200 days.
Analysts’ Opinion of SPOT
Many brokerage firms have already submitted their reports for SPOT stocks, with BofA Securities repeating the rating for SPOT by listing it as a “Buy.” The predicted price for SPOT in the upcoming period, according to BofA Securities is $380 based on the research report published on July 02, 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 $400, previously predicting the price at $390. The rating they have provided for SPOT stocks is “Buy” according to the report published on April 23rd, 2024.
JP Morgan gave a rating of “Overweight” to SPOT, setting the target price at $320 in the report published on April 08th of the current year.
SPOT Trading at 3.39% 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 -5.05% of loss for the given period.
Volatility was left at 3.01%, however, over the last 30 days, the volatility rate increased by 2.71%, as shares sank -3.64% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +15.63% upper at present.
During the last 5 trading sessions, SPOT fell by -1.30%, which changed the moving average for the period of 200-days by +98.51% in comparison to the 20-day moving average, which settled at $314.37. In addition, Spotify Technology S.A. saw 67.29% 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 3.9. 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
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.
