Spotify Technology S.A. (NYSE:SPOT) traded at $302.19 at last check on Tuesday, April 09, made a downward move of -2.23% on its previous day’s price.
Looking at the stock we see that its previous close was $309.07 and the beta (5Y monthly) reads 1.63. In terms of its 52-week price range, SPOT has a high of $313.16 and a low of $128.67. The company’s stock has gained about 16.50% over that past 30 days.
Spotify Technology S.A. has a market cap of $58.66 billion and is expected to release its quarterly earnings report on Apr 23, 2024. Estimates by analysts give the company expected earnings per share (EPS) of $0.76, with the EPS growth for the year raised at $4.01 for 2024 and $5.86 for next year. These figures represent 284.80% and 46.10% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $3.91 billion, with a low of $3.87 billion and a high of $3.94 billion. The median projection represents growth squeezing down to 17.80% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $16.84 billion, or 17.40% up from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SPOT stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note the current price level is 12.61% off its SMA20 and 19.28% from its 50-day simple moving average. The RSI (14) is pointing at 73.62 while the volatility over the past week is 3.82% and jumps to 3.09% over the past one month. The beta value is 1.62, while the average true range (ATR) is currently pointing at 9.30.
Coming back to Spotify Technology S.A. (NYSE:SPOT), we note that the average 3-month trading volume was 1.96 million, while that of the preceding 10-day period stands at 2.15 million. Current shares outstanding are 197.14 million.
The insiders hold 28.66% of the company’s shares while institutions hold 57.69%. The data shows that short shares as of Mar 15, 2024, stood at 1.78 million at a short ratio of 1.02. This represents a 0.90% short interest in shares outstanding on Mar 15, 2024. Shares short fall in March from the previous month at 1.89 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 60.82% up in year-to-date price movement.
