The stock of Spotify Technology S.A. (SPOT) has seen a 3.48% increase in the past week, with a 17.24% gain in the past month, and a 12.39% flourish in the past quarter. The volatility ratio for the week is 2.28%, and the volatility levels for the past 30 days are at 3.89% for SPOT. The simple moving average for the last 20 days is 3.97% for SPOT stock, with a simple moving average of 33.07% for the last 200 days.
Is It Worth Investing in Spotify Technology S.A. (NYSE: SPOT) Right Now?
Spotify Technology S.A. (NYSE: SPOT) has a higher price-to-earnings ratio of 141.06x compared to its average ratio, The 36-month beta value for SPOT is at 1.57. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 3 rating it as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for SPOT is 141.16M, and currently, shorts hold a 1.53% of that float. The average trading volume for SPOT on August 20, 2024 was 1.87M shares.
SPOT) stock’s latest price update
Spotify Technology S.A. (NYSE: SPOT)’s stock price has increased by 0.49 compared to its previous closing price of 344.69. However, the company has seen a 3.48% increase in its stock price over the last five trading sessions. investors.com reported 2024-08-19 that TG Therapeutics cruised past a 23.12 alternative entry.
Analysts’ Opinion of SPOT
Many brokerage firms have already submitted their reports for SPOT stocks, with Goldman repeating the rating for SPOT by listing it as a “Buy.” The predicted price for SPOT in the upcoming period, according to Goldman is $425 based on the research report published on July 24, 2024 of the current year 2024.
DZ Bank, on the other hand, stated in their research note that they expect to see SPOT reach a price target of $375. The rating they have provided for SPOT stocks is “Buy” according to the report published on July 24th, 2024.
Pivotal Research Group gave a rating of “Buy” to SPOT, setting the target price at $460 in the report published on July 24th of the current year.
SPOT Trading at 8.70% 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 -3.61% of loss for the given period.
Volatility was left at 3.89%, however, over the last 30 days, the volatility rate increased by 2.28%, as shares surge +4.40% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.05% upper at present.
During the last 5 trading sessions, SPOT rose by +3.17%, which changed the moving average for the period of 200-days by +106.03% in comparison to the 20-day moving average, which settled at $333.90. In addition, Spotify Technology S.A. saw 84.34% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SPOT starting from Sutphen Mona, who proposed sale 6,106 shares at the price of $339.43 back on Aug 09 ’24. After this action, Sutphen Mona now owns shares of Spotify Technology S.A., valued at $2,072,560 using the latest closing price.
Jenkins Dustee, the Officer of Spotify Technology S.A., proposed sale 812 shares at $340.08 during a trade that took place back on Aug 09 ’24, which means that Jenkins Dustee is holding shares at $276,148 based on the most recent closing price.
Stock Fundamentals for SPOT
Current profitability levels for the company are sitting at:
- 0.03 for the present operating margin
- 0.27 for the gross margin
The net margin for Spotify Technology S.A. stands at 0.03. The total capital return value is set at 0.06. Equity return is now at value 14.82, with 5.35 for asset returns.
Based on Spotify Technology S.A. (SPOT), the company’s capital structure generated 0.24 points at debt to capital in total, while cash flow to debt ratio is standing at 0.99. The debt to equity ratio resting at 0.31. The interest coverage ratio of the stock is 4.22.
Currently, EBITDA for the company is -146.0 million with net debt to EBITDA at -3.37. When we switch over and look at the enterprise to sales, we see a ratio of 4.05. The receivables turnover for the company is 18.38for trailing twelve months and the total asset turnover is 1.43. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.56.
Conclusion
In conclusion, Spotify Technology S.A. (SPOT) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
