Spotify Technology S.A. (NYSE:SPOT) saw a downside of -1.23% to $142.35 after subtracting -$1.77 on Monday. The 5-day average trading volume is 1,496,513 shares of the company’s common stock. It has gained $152.80 in the past week and touched a new high 1 time within the past 5 days. An average of 3,120,328 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,092,449.
SPOT’s 1-month performance is -9.32% or -$14.62 on its low of $139.15 reached on 07/25/23. The company’s shares have touched a 52-week low of $69.29 and high of $182.00, with the stock’s rally to the 52-week high happening on 07/19/23. YTD, SPOT has achieved 80.30% or $63.40 and has reached a new high 44 times. However, the current price is down -21.79% from the 52-week high price.
Valuation Metrics
SPOT stock has a beta of 1.73. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.06 while the price-to-book (PB) in the most recent quarter is 12.31, with the price to cash flow ratio at 873.78.
Spotify Technology S.A.’s quick ratio for the period ended June 29 was 1.20, with the current ratio over the same period at 1.20. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.82, while the total debt to equity was 0.82. In terms of profitability, the gross margin trailing 12 months is 25.00%. The firm’s gross profit as reported stood at $3.08 billion against revenue of $12.36 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Spotify Technology S.A.’s cash and short-term investments amounted to $5.6 million against total debt of $1.74 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 92.09% to -$481.6 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected SPOT to announce -$0.7 per share in earnings in its latest quarter, but it posted -$1.71, representing a -144.30% surprise. EBITDA for the quarter stood at more than -$220.6 million. SPOT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 5.73 billion, with total debt at $1.74 billion.
Let’s look briefly at Spotify Technology S.A. (SPOT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 04 August was 32.64% to suggest the stock is trending Neutral, with historical volatility in this time period at 43.14%.
The stock’s 5-day moving average is $145.85, reflecting a -4.73% or -$7.06 change from its current price. SPOT is currently trading -9.56% above its 20-day SMA, +13.39% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -3.19% and SMA200 by+61.69%.
Stochastic %K and %D was 11.23% and 15.13% and the average true range (ATR) pointed at 6.34. The RSI (14) points at 37.18%, while the 14-day stochastic is at 7.46% with the period’s ATR at 6.34. The stock’s 9-day MACD Oscillator is pointing at -2.80 and -9.54 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Spotify Technology S.A. (NYSE: SPOT), Deutsche Bank upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for SPOT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate SPOT as a “sell,”, while 13 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 5 rates the stock as overweight while 17 have offered a “buy” rating.
What is SPOT’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $98.69 and a high of $226.36, with their median price target at $158.45. Looking at these predictions, the average price target given by analysts is for Spotify Technology S.A. (SPOT) stock is $154.92.
