The stock price of Spotify Technology S.A (NYSE: SPOT) has plunged by -3.23 when compared to previous closing price of 498.63, but the company has seen a 0.47% gain in its stock price over the last five trading sessions. pymnts.com reported 2024-12-09 that Spotify has pulled the plug on Car Thing, its hardware product that allowed users to control the company’s streaming service through car speakers when connected to a phone by using both voice recognition and preset buttons. “Car Thing is discontinued and no longer operational,” the company said in a notice on the Car Thing website.
Is It Worth Investing in Spotify Technology S.A (NYSE: SPOT) Right Now?
The price-to-earnings ratio for Spotify Technology S.A (NYSE: SPOT) is above average at 130.85x, Company’s 36-month beta value is 1.61.Analysts have differing opinions on the stock, with 18 analysts rating it as a “buy,” 8 as “overweight,” 9 as “hold,” and 1 as “sell.”
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The public float for SPOT is 141.77M, and currently, short sellers hold a 3.06% ratio of that floaft. The average trading volume of SPOT on December 10, 2024 was 2.37M shares.
SPOT’s Market Performance
The stock of Spotify Technology S.A (SPOT) has seen a 0.47% increase in the past week, with a 20.68% rise in the past month, and a 47.56% gain in the past quarter. The volatility ratio for the week is 3.10%, and the volatility levels for the past 30 days are at 2.85% for SPOT. The simple moving average for the past 20 days is 2.36% for SPOT’s stock, with a 44.20% simple moving average for the past 200 days.
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 $565 based on the research report published on November 13, 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 $510, previously predicting the price at $460. The rating they have provided for SPOT stocks is “Buy” according to the report published on September 19th, 2024.
Cantor Fitzgerald gave a rating of “Neutral” to SPOT, setting the target price at $340 in the report published on September 05th of the current year.
SPOT Trading at 15.94% 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 -4.73% of loss for the given period.
Volatility was left at 2.85%, however, over the last 30 days, the volatility rate increased by 3.10%, as shares surge +20.43% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +30.69% upper at present.
During the last 5 trading sessions, SPOT rose by +0.47%, which changed the moving average for the period of 200-days by +88.41% in comparison to the 20-day moving average, which settled at $471.38. In addition, Spotify Technology S.A saw 156.78% 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 Jenkins Dustee, who proposed sale 10,399 shares at the price of $501.71 back on Dec 04 ’24. After this action, Jenkins Dustee now owns shares of Spotify Technology S.A, valued at $5,217,230 using the latest closing price.
Daniel Ek, the Director and Chief Executive O of Spotify Technology S.A, proposed sale 75,000 shares at $493.32 during a trade that took place back on Dec 04 ’24, which means that Daniel Ek is holding shares at $36,999,000 based on the most recent closing price.
Stock Fundamentals for SPOT
Current profitability levels for the company are sitting at:
- 0.05 for the present operating margin
- 0.29 for the gross margin
The net margin for Spotify Technology S.A stands at 0.05. The total capital return value is set at 0.13. Equity return is now at value 20.53, with 7.70 for asset returns.
Based on Spotify Technology S.A (SPOT), the company’s capital structure generated 0.22 points at debt to capital in total, while cash flow to debt ratio is standing at 1.36. The debt to equity ratio resting at 0.29. The interest coverage ratio of the stock is 5.28.
Currently, EBITDA for the company is -298.0 million with net debt to EBITDA at -3.07. When we switch over and look at the enterprise to sales, we see a ratio of 5.73. The receivables turnover for the company is 19.46for 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 1.71.
Conclusion
In a nutshell, Spotify Technology S.A (SPOT) has experienced a better performance in recent times. The stock has received mixed “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.
