The trading price of Spotify Technology S.A. (NYSE:SPOT) closed higher on Tuesday, April 23, closing at $303.31, 11.41% higher than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $313.16 and a 52-week low of $128.67. Over the past month, the stock has gained 14.48% in value.
Spotify Technology S.A., whose market valuation is $58.88 billion at the time of this writing. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.97 per share this quarter, however they have predicted annual earnings per share of 4.31 for current year and 6.26 for next year.
Analysts have forecast the company to bring in revenue of 4.02B for the current quarter, with the likely lows of 3.92B and highs of 4.07B. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 16.63B.
On the technical side, indicators suggest SPOT has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
A quick review shows that SPOT’s price is currently 6.12% off the SMA20 and 13.61% off the SMA50. The RSI metric on the 14-day chart is currently showing 61.28, and weekly volatility stands at 4.48%. When measured over the past 30 days, the indicator reaches 3.77%. Spotify Technology S.A. (NYSE:SPOT)’s beta value is currently sitting at 1.59, while the Average True Range indicator is currently displaying 12.69.
To see how Spotify Technology S.A. stock has been performing in comparison to its peers in the industry, here are the numbers: SPOT stock’s performance was 11.41% in the latest trading, and 126.76% in the past year.
An evaluation of the daily trading volume of Spotify Technology S.A. (NYSE:SPOT) indicates that the 3-month average is 2.19 million.
Currently, records show that 197.14 million of the company’s shares remain outstanding. The insiders hold 28.49% of outstanding shares, whereas institutions hold 57.51%. However, since the stock’s price has seen 61.41% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
