At the time of writing, Spotify Technology S.A. [SPOT] stock is trading at $267.00, down -1.11%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The SPOT shares have gain 5.53% over the last week, with a monthly amount glided 20.02%, and seem to be holding up well over a long-time horizon.
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On 6, February 2024, Spotify Technology S.A. Releases Financial Results for Fourth Quarter 2023. In a post published today on Yahoo Finance, Spotify Technology S.A. (NYSE: SPOT) has released its financial results for the fourth quarter of 2023 today. Please visit investors.spotify.com to view the Shareholder Deck and other supplemental materials.
From an analyst’s perspective:
Spotify Technology S.A. [NYSE: SPOT] stock has seen the most recent analyst activity on February 07, 2024, when DZ Bank upgraded its rating to a Hold but kept the price target unchanged to $240 for it. Previously, Pivotal Research Group reaffirmed its Buy rating on February 06, 2024, and elevated its price target to $330. On January 30, 2024, upgrade upgraded it’s rating to Buy and revised its price target to $274 on the stock. Pivotal Research Group upgraded its rating to a Buy and increased its price target to $265 on December 21, 2023. Rosenblatt upgraded its rating to a Buy and raised its price target to $300 on December 11, 2023. Citigroup downgraded its rating to Neutral for this stock on December 01, 2023. In a note dated October 23, 2023, TD Cowen initiated an Market Perform rating and provided a target price of $129 on this stock.
For the past year, the stock price of Spotify Technology S.A. fluctuated between $118.55 and $271.56. Currently, Wall Street analysts expect the stock to reach $189.15 within the next 12 months. Spotify Technology S.A. [NYSE: SPOT] shares were valued at $267.00 at the most recent close of the market. An investor can expect a potential drop of -29.16% based on the average SPOT price forecast.
Analyzing the SPOT fundamentals
According to Spotify Technology S.A. [NYSE:SPOT], the company’s sales were 14.32B for trailing twelve months, which represents an 22.24% jump. Gross Profit Margin for this corporation currently stands at 0.26% with Operating Profit Margin at -0.02%, Pretax Profit Margin comes in at -0.04%, and Net Profit Margin reading is -0.04%. To continue investigating profitability, this company’s Return on Assets is posted at -0.07, Equity is -0.92 and Total Capital is -0.07. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.77.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 263.43 points at the first support level, and at 259.86 for the second support level. However, for the 1st resistance point, the stock is sitting at 270.42, and for the 2nd resistance point, it is at 273.83.
Spotify Technology S.A. [SPOT] reported earnings per share of $0.4 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.23/share, meaning a difference of $0.63 and a surprise factor of 273.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.36 per share as compared to estimates of -$0.24 per share, a difference of $0.6 representing a surprise of 250.00%.
Ratios To Look Out For
It is important to note that Spotify Technology S.A. [NYSE:SPOT] has a current ratio of 1.29. As well, the Quick Ratio is 1.29, while the Cash Ratio is 0.76. Considering the valuation of this stock, the price to sales ratio is 3.60, the price to book ratio is 18.89.
