At the last check on Thursday, Spotify Technology S.A.’s (NYSE:SPOT) stock was down -$5.4, moving down -3.36 percent to $155.37. The average number of shares traded per day over the past five days has been 1,235,152 shares. 4 times new highs have been achieved over the past 5 days, with a -$0.94 fall in that time frame. In the last twenty days, the average volume was 1,459,958, while in the previous 50 days, it was 2,210,821.
Since last month, SPOT stock rose 16.43%. Shares of the company fell to $131.04 on 08/22/23, the lowest level in the past month. A 52-week high of $182.00 was reached on 07/19/23 after having rallying from a 52-week low of $69.29. Since the beginning of this year, SPOT’s stock price has risen by 96.79% or $77.26, and marked a new high 44 times. However, the stock has declined by -14.63% since its 52-week high.
Valuation Metrics
The stock’s beta is 1.71. Besides these, the trailing price-to-sales (P/S) ratio of 2.27, the price-to-book (PB) ratio of 13.82, and the price-to-cash flow ratio of 976.32 may also be considered.
Financial Health
In the three months ended June 29, Spotify Technology S.A.’s quick ratio stood at 1.20, while its current ratio was 1.20, 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 June 29 was 0.82, and the total debt-to-equity ratio was 0.82. On the profitability front, the trailing twelve-month gross margin is 25.00% percent. In the year ended June 29, operating margins totaled -6.90%. Based on annual data, SPOT earned $3.08 billion in gross profit and brought in $12.36 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 -17.60%. Return on equity (ROE) for the past 12 months was -42.70%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. SPOT’s revenue rose 17.56% during the quarter, while net income inched up to $13.13 billion. While analysts expected Spotify Technology S.A. to report -$0.68 quarterly earnings, the actual figure was -$1.66 per share, beating the consensus estimate by -144.10%. During the quarter, the company generated -$220.6 million in EBITDA. The liabilities of Spotify Technology S.A. were 5.73 billion at the end of its most recent quarter ended June 29, and its total debt was $1.74 billion.
Technical Picture
This quick technical analysis looks at Spotify Technology S.A.’s (SPOT) price momentum. With a historical volatility rate of 21.70%, the RSI 9-day stood at 53.33% on 20 September.
With respect to its five-day moving average, the current Spotify Technology S.A. price is down by -0.60% percent or -$0.94. At present, SPOT shares trade +13.00% above its 20-day simple moving average and +16.92% percent above its 100-day simple moving average. However, the stock is currently trading approximately -5.78% below its SMA50 and +94.51% above its SMA200.
Stochastic coefficient K was 57.90% and Stochastic coefficient D was 71.18%, while ATR was 5.15. Given the Stochastic reading of 30.67% for the 14-day period, the RSI (14) reading has been calculated as 55.35%. As of today, the MACD Oscillator reading stands at 1.28, while the 14-day reading stands at 0.99.
Analyst Ratings
Deutsche Bank upgraded its rating on Spotify Technology S.A. (NYSE: SPOT) to a Buy in a note to investors on July 26, 2023. The analysts firm previously had a Hold rating on the stock.Spotify Technology S.A. (SPOT) has been rated Overweight by analysts. According to 0 brokerage firms, SPOT is a sell, and 12 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 4 analysts rate Spotify Technology S.A. stock as buy, with 17 recommending it as overweight.
With a median target price of $162.98, the current consensus forecast for the stock is $98.69 – $230.86. Based on these forecasts, analysts predict Spotify Technology S.A. (SPOT) will achieve an average price target of $158.34.
