At the time of writing, Spotify Technology S.A. [SPOT] stock is trading at $298.08, up 2.60%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The SPOT shares have lost -0.88% over the last week, with a monthly amount glided 16.94%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Spotify Technology S.A. [NYSE: SPOT] stock has seen the most recent analyst activity on April 08, 2024, when JP Morgan reiterated its Overweight rating and also boosted its price target to $320 from $280. Previously, Pivotal Research Group reaffirmed its Buy rating on April 05, 2024, and elevated its price target to $390. On March 27, 2024, HSBC Securities initiated with a Buy rating and assigned a price target of $310 on the stock. DZ Bank upgraded its rating to a Hold but stick to its price target of $240 on February 07, 2024. Pivotal Research Group reiterated its recommendation of a Buy and raised its price target to $330 on February 06, 2024. UBS upgraded its rating to Buy for this stock on January 30, 2024, and upped its price target to $274. In a note dated December 21, 2023, Pivotal Research Group upgraded an Buy rating on this stock and boosted its target price from $170 to $265.
For the past year, the stock price of Spotify Technology S.A. fluctuated between $128.67 and $313.16. Currently, Wall Street analysts expect the stock to reach $217.18 within the next 12 months. Spotify Technology S.A. [NYSE: SPOT] shares were valued at $298.08 at the most recent close of the market. An investor can expect a potential drop of -27.14% 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 291.08 points at the first support level, and at 284.09 for the second support level. However, for the 1st resistance point, the stock is sitting at 303.00, and for the 2nd resistance point, it is at 307.93.
Ratios To Look Out For
It is important to note that Spotify Technology S.A. [NYSE:SPOT] has a current ratio of 1.29. Further, the Quick Ratio stands at 1.29, while the Cash Ratio is 0.76. Considering the valuation of this stock, the price to sales ratio is 4.04, the price to book ratio is 21.08.
