While Spotify Technology S.A. has overperformed by 0.20%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SPOT rose by 106.64%, with highs and lows ranging from $319.30 to $129.23, whereas the simple moving average jumped by 47.67% in the last 200 days.
On April 23, 2024, Pivotal Research Group Reiterated Spotify Technology S.A. (NYSE: SPOT) to Buy. A report published by JP Morgan on April 08, 2024, Reiterated its previous ‘Overweight’ rating for SPOT. Pivotal Research Group also reiterated SPOT shares as ‘Buy’, quoting a target price of $390 on the company’s shares in a report dated April 05, 2024. HSBC Securities Initiated an Buy rating on March 27, 2024, and assigned a price target of $310. DZ Bank February 07, 2024d its ‘Sell’ rating to ‘Hold’ for SPOT, as published in its report on February 07, 2024. Pivotal Research Group’s report from February 06, 2024 suggests a price prediction of $330 for SPOT shares, giving the stock a ‘Buy’ rating. UBS also rated the stock as ‘Buy’.
Analysis of Spotify Technology S.A. (SPOT)
Further, the quarter-over-quarter increase in sales is 20.91%, showing a positive trend in the upcoming months.
Spotify Technology S.A.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -3.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.42, 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.
For any stock, average volume can be an extremely valuable indicator of volatility, and SPOT is registering an average volume of 2.17M. On a monthly basis, the volatility of the stock is set at 3.76%, whereas on a weekly basis, it is put at 2.43%, with a gain of 4.96% over the past seven days. Furthermore, long-term investors anticipate a median target price of $340.87, showing growth from the present price of $298.65, 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?
Besides checking the fundamentals, you should also know 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 28.45%. 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 56.19% 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 56.19% at present.
