At the time of writing, Spotify Technology S.A. [SPOT] stock is trading at $310.31, up 4.85%. 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 17.59% over the last week, with a monthly amount glided 15.77%, and seem to be holding up well over a long-time horizon.
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On 4, April 2024, Christian Luiga Named Spotify Chief Financial Officer. In a post published today on Yahoo Finance, Spotify Technology S.A. (NYSE: SPOT) today announced the appointment of Christian Luiga as its new Chief Financial Officer. Christian joins Spotify from Saab AB, a European defense and security company, where he served as Deputy Chief Executive Officer and Chief Financial Officer. Prior to joining Saab AB, Christian also held several key leadership roles including CFO and acting CEO and President at European telecommunications company, Telia. He will be based in Sweden and have responsibility for the following functions: financial planning and analysis, audit and risk, investor relations, accounting, corporate development, tax and treasury. The company currently plans for Christian to join in Q3 of 2024. Ben Kung, Spotify Vice President of Financial Planning and Analysis, who has been a leader on our finance team for several years will serve as interim CFO.
From an analyst’s perspective:
Spotify Technology S.A. [NYSE: SPOT] stock has seen the most recent analyst activity on April 05, 2024, when Pivotal Research Group reiterated its Buy rating and also boosted its price target to $390 from $330. Previously, HSBC Securities started tracking the stock with Buy rating on March 27, 2024, and set its price target to $310. On February 07, 2024, upgrade upgraded it’s rating to Hold but maintained its price target of $240 on the stock. Pivotal Research Group reiterated its Buy rating and increased its price target to $330 on February 06, 2024. UBS upgraded its rating to a Buy and raised its price target to $274 on January 30, 2024. Pivotal Research Group upgraded its rating to Buy for this stock on December 21, 2023, and upped its price target to $265. In a note dated December 11, 2023, Rosenblatt upgraded an Buy rating on this stock and boosted its target price from $150 to $300.
For the past year, the stock price of Spotify Technology S.A. fluctuated between $128.67 and $304.00. Currently, Wall Street analysts expect the stock to reach $213.61 within the next 12 months. Spotify Technology S.A. [NYSE: SPOT] shares were valued at $310.31 at the most recent close of the market. An investor can expect a potential drop of -31.16% 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.77.
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 301.64 points at the first support level, and at 292.96 for the second support level. However, for the 1st resistance point, the stock is sitting at 316.03, and for the 2nd resistance point, it is at 321.74.
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 4.21, the price to book ratio is 21.95.
