While Spotify Technology S.A. has underperformed by -1.51%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SPOT rose by 119.45%, with highs and lows ranging from $313.16 to $128.67, whereas the simple moving average jumped by 52.03% in the last 200 days.
On April 08, 2024, JP Morgan Reiterated Spotify Technology S.A. (NYSE: SPOT) to Overweight. A report published by Pivotal Research Group on April 05, 2024, Reiterated its previous ‘Buy’ rating for SPOT. HSBC Securities also rated SPOT shares as ‘Buy’, setting a target price of $310 on the company’s shares in an initiating report dated March 27, 2024. Pivotal Research Group resumed its ‘Buy’ rating for SPOT, as published in its report on February 06, 2024. UBS’s report from January 30, 2024 suggests a price prediction of $274 for SPOT shares, giving the stock a ‘Buy’ rating. Pivotal Research Group also rated the stock as ‘Buy’.
Analysis of Spotify Technology S.A. (SPOT)
Further, the quarter-over-quarter increase in sales is 22.24%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Spotify Technology S.A.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -21.48% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.29, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 1.94M can be a very valuable indicator of volatility for SPOT stock. On a monthly basis, the volatility of the stock is set at 3.29%, whereas on a weekly basis, it is put at 3.01%, with a loss of -2.14% over the past seven days. Furthermore, long-term investors anticipate a median target price of $283.41, showing decline from the present price of $293.58, which can serve as yet another indication of whether SPOT is worth investing in or should be passed over.
How Do You Analyze Spotify Technology S.A. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 28.49%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 57.53% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
SPOT shares are owned by institutional investors to the tune of 57.53% at present.
