Spotify Technology S.A (NYSE:SPOT) shares, rose in value on Wednesday, May 07, with the stock price up by 3.83% to the previous day’s close as strong demand from buyers drove the stock to $657.10.
Actively observing the price movement in the last trading, the stock closed the session at $632.85. The PE ratio was 108.31 over 12-month period. Referring to stock’s 52-week performance, its high was $653.32, and the low was $286.20. On the whole, SPOT has fluctuated by 26.62% over the past month.
With the market capitalization of Spotify Technology S.A currently standing at about $131.94 billion, investors are eagerly awaiting this quarter’s results, scheduled for in June.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that SPOT’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2.58, with the price of SPOT currently trading nearly 10.85% and 14.07% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 63.25, while the 7-day volatility ratio is showing 3.80% which for the 30-day chart, stands at 5.52%. Furthermore, Spotify Technology S.A (SPOT)’s beta value is 1.69, and its average true range (ATR) is 32.14.
A comparison of Spotify Technology S.A (SPOT) with its peers suggests the former has fared considerably weaker in the market. SPOT showed an intraday change of 3.83% in last session, and over the past year, it grew by 121.94%%.
Data on historical trading for Spotify Technology S.A (NYSE:SPOT) indicates that the trading volumes over the past 3 months, they’ve averaged 2.69 million. According to company’s latest data on outstanding shares, there are 205.06 million shares outstanding.
Nearly 25.23% of Spotify Technology S.A’s shares belong to company insiders and institutional investors own 66.99% of the company’s shares. The stock has risen by 46.88% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SPOT stock heading into the next quarter.
