Spotify Technology S.A. [SPOT] stock is trading at $342.20, down -0.43%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The SPOT shares have gain 1.97% over the last week, with a monthly amount glided 1.69%, 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 24, 2024, when Goldman upgraded its rating to a Buy and also boosted its price target to $425 from $320. Previously, DZ Bank upgraded its rating to Buy on July 24, 2024, and kept the price target unchanged to $375. On July 24, 2024, Pivotal Research Group reiterated its Buy rating and revised its price target to $460 on the stock. Wolfe Research started tracking the stock assigning a Outperform rating and suggested a price target of $390 on July 12, 2024. Redburn Atlantic downgraded its rating to Sell for this stock on July 10, 2024, but kept the price target unchanged to $230. In a note dated July 02, 2024, BofA Securities reiterated an Buy rating on this stock and boosted its target price from $370 to $380.
Spotify Technology S.A. [SPOT] stock has fluctuated between $131.04 and $359.38 over the past year. Currently, Wall Street analysts expect the stock to reach $276.9 within the next 12 months. Spotify Technology S.A. [NYSE: SPOT] shares were valued at $342.20 at the most recent close of the market. An investor can expect a potential drop of -19.08% based on the average SPOT price forecast.
Analyzing the SPOT fundamentals
Spotify Technology S.A. [NYSE:SPOT] reported sales of 15.64B for the trailing twelve months, which represents a growth of 18.53%. Gross Profit Margin for this corporation currently stands at 0.27% with Operating Profit Margin at 0.03%, Pretax Profit Margin comes in at 0.03%, and Net Profit Margin reading is 0.03%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 0.15 and Total Capital is 0.06. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.31.
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 338.37 points at the first support level, and at 334.55 for the second support level. However, for the 1st resistance point, the stock is sitting at 348.17, and for the 2nd resistance point, it is at 354.15.
Ratios To Look Out For
For context, Spotify Technology S.A.’s Current Ratio is 1.56. Also, the Quick Ratio is 1.56, while the Cash Ratio stands at 1.0. Considering the valuation of this stock, the price to sales ratio is 4.28, the price to book ratio is 15.05 and price to earnings (TTM) ratio is 139.35.
Transactions by insiders
Recent insider trading involved Marshall Christopher P, Director, that happened on Aug 21 ’24 when 10000.0 shares were purchased. Director, Sutphen Mona completed a deal on Aug 09 ’24 to buy 6106.0 shares. Meanwhile, Officer Jenkins Dustee bought 812.0 shares on Aug 09 ’24.
