Spotify Technology S.A. (SPOT) Is A Stock You Should Watch

As of Friday close, Spotify Technology S.A.’s (NYSE:SPOT) stock was up $9.01, moving up 9.28 percent to $106.09. The average number of shares traded per day over the past five days has been 2,786,720 shares. 2 times new highs have been achieved over the past 5 days, with a $1.41 gain in that time frame. In the last twenty days, the average volume was 3,256,735, while in the previous 50 days, it was 2,373,404.

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Since last month, SPOT stock retreated -24.94%. Shares of the company fell to $89.03 on 05/12/22, the lowest level in the past month. A 52-week high of $305.60 was reached on 01/03/22 after having rallying from a 52-week low of $89.03. Since the beginning of this year, SPOT’s stock price has dropped by -54.67% or -$127.94, and marked a new high 1 time. However, the stock has declined by -65.28% since its 52-week high.

Valuation Metrics

Right now, Spotify Technology S.A. (SPOT) has a P/E ratio of about 274.13. The stock’s beta is 1.80. Besides these, the trailing price-to-sales (P/S) ratio of 1.92, the price-to-book (PB) ratio of 9.02, and the price-to-cash flow ratio of 74.45 may also be considered.

Financial Health

In the three months ended September 29, Spotify Technology S.A.’s quick ratio stood at 1.40, while its current ratio was 1.40, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.81, and the total debt-to-equity ratio was 0.81. On the profitability front, the trailing twelve-month gross margin is 26.70% percent. In the year ended September 29, operating margins totaled 0.70%. Based on annual data, SPOT earned $3.07 billion in gross profit and brought in $11.44 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -4.80%. Return on equity (ROE) for the past 12 months was 3.30%.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. SPOT’s revenue rose 18.49% during the quarter, while net income inched up to $10.83 billion. While analysts expected Spotify Technology S.A. to report -$0.2 quarterly earnings, the actual figure was -$0.46 per share. During the quarter, the company generated $34.79 million in EBITDA. The liabilities of Spotify Technology S.A. were 5.49 billion at the end of its most recent quarter ended September 29, and its total debt was $1.82 billion.

Technical Picture

This quick technical analysis looks at Spotify Technology S.A.’s (SPOT) price momentum. With a historical volatility rate of 98.15%, the RSI 9-day stood at 48.36% on 13 May.

With respect to its five-day moving average, the current Spotify Technology S.A. price is up by +1.35% percent or $1.41. At present, SPOT shares trade -22.15% below its 20-day simple moving average and -53.50% percent below its 100-day simple moving average. However, the stock is currently trading approximately -24.18% below its SMA50 and -52.91% below its SMA200.

Stochastic coefficient K was 33.62% and Stochastic coefficient D was 19.32%, while ATR was 9.15. Given the Stochastic reading of 66.94% for the 14-day period, the RSI (14) reading has been calculated as 43.94%. As of today, the MACD Oscillator reading stands at -3.97, while the 14-day reading stands at -4.58.

Analyst Ratings

Spotify Technology S.A. downgraded its rating on Spotify Technology S.A. (NYSE: SPOT) to a Hold in a note to investors on April 28, 2022. The analysts firm previously had a Buy rating on the stock.Spotify Technology S.A. (SPOT) has been rated Overweight by analysts. According to 1 brokerage firm , SPOT is a sell, and 13 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Spotify Technology S.A. stock as buy, with 13 recommending it as overweight.

With a median target price of $142.62, the current consensus forecast for the stock is $90.33 – $223.44. Based on these forecasts, analysts predict Spotify Technology S.A. (SPOT) will achieve an average price target of $141.66.


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