Spotify Technology S.A. [SPOT] stock prices are up 11.96% to $330.79 at the moment. 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 10.82% over the last week, with a monthly amount glided 4.11%, 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 July 12, 2024, when Wolfe Research initiated its Outperform rating and assigned the stock a price target of $390. On July 10, 2024, downgrade downgraded it’s rating to Sell but maintained its price target of $230 on the stock. BofA Securities reiterated its Buy rating and increased its price target to $380 on July 02, 2024. Pivotal Research Group reiterated its recommendation of a Buy and raised its price target to $400 on April 23, 2024. JP Morgan reiterated a Overweight rating for this stock on April 08, 2024, and upped its price target to $320. In a note dated April 05, 2024, Pivotal Research Group reiterated an Buy rating on this stock and boosted its target price from $330 to $390.
The stock price of Spotify Technology S.A. [SPOT] has been fluctuating between $129.23 and $331.08 over the past year. Currently, Wall Street analysts expect the stock to reach $250 within the next 12 months. Spotify Technology S.A. [NYSE: SPOT] shares were valued at $330.79 at the most recent close of the market. An investor can expect a potential drop of -24.42% based on the average SPOT price forecast.
Analyzing the SPOT fundamentals
The Spotify Technology S.A. [NYSE:SPOT] reported sales of 15.00B for trailing twelve months, representing a surge of 20.91%. Gross Profit Margin for this corporation currently stands at 0.27% with Operating Profit Margin at 0.0%, Pretax Profit Margin comes in at -0.01%, and Net Profit Margin reading is -0.01%. To continue investigating profitability, this company’s Return on Assets is posted at -0.02, Equity is -0.16 and Total Capital is 0.0. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.22.
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 323.73 points at the first support level, and at 316.66 for the second support level. However, for the 1st resistance point, the stock is sitting at 340.63, and for the 2nd resistance point, it is at 350.46.
Ratios To Look Out For
It’s worth pointing out that Spotify Technology S.A. [NYSE:SPOT]’s Current Ratio is 1.42. As well, the Quick Ratio is 1.42, while the Cash Ratio is 0.87. Considering the valuation of this stock, the price to sales ratio is 4.30, the price to book ratio is 18.42.
