Spotify Technology S.A. (NYSE:SPOT) has a beta value of 1.65 and has seen 2,072,370 shares traded in the recent trading session. The company, currently valued at $47.42 Billion, closed the recent trade at $255 per share which meant it lost -$6.1 on the day or -2.36% during that session. The SPOT stock price is -11.92% off its 52-week high price of $285.4 and 57.18% above the 52-week low of $109.18. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.08 Million shares traded. The 3-month trading volume is 2.75 Million shares.
The consensus among analysts is that Spotify Technology S.A. (SPOT) is an Overweight stock at the moment, with a recommendation rating of 2.5. 6 analysts rate the stock as a Sell, while 1 rate it as Overweight. 6 out of 28 have rated it as a Hold, with 14 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.33.
Spotify Technology S.A. (NYSE:SPOT) trade information
Despite being -2.37% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, Jul 13 when the SPOT stock price touched $285.4 or saw a rise of 11.15%. Year-to-date, Spotify Technology S.A. shares have moved 69.56%, while the 5-day performance has seen it change -3.21%. Over the past 30 days, the shares of Spotify Technology S.A. (NYSE:SPOT) have changed 40.82%. Short interest in the company has seen 4.02 Million shares shorted with days to cover at 1.46.
Spotify Technology S.A. (SPOT) estimates and forecasts
Figures show that Spotify Technology S.A. shares have outperformed across the wider relevant industry. The company’s shares have gained +67.39% over the past 6 months, with this year growth rate of 46.96%, compared to 8% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 28.3% and -125% for the next quarter. Revenue growth from the last financial year stood is estimated to be +17.9%.
20 analysts offering their estimates for the company have set an average revenue estimate of $1.93 Billion for the current quarter. 20 have an estimated revenue figure of $2.01 Billion for the next quarter concluding in September 01, 2020. Year-ago sales stood $1.67 Billion and $1.73 Billion respectively for this quarter and the next, and analysts expect sales will grow by 15.6% for the current quarter and 16.2% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +6% over the past 5 years. Earnings growth for 2020 is a modest -133.4%.
Spotify Technology S.A. (NYSE:SPOT)’s Major holders
Insiders own 29.24% of the company shares, while shares held by institutions stand at 58.54% with a share float percentage of 82.74%. Investors are also buoyed by the number of investors in a company, with Spotify Technology S.A. having a total of 572 institutions that hold shares in the company. The top two institutional holders are Baillie Gifford and Company with over 21.68 Million shares worth more than $2.63 Billion. As of March 30, 2020, Baillie Gifford and Company held 12.09% of shares outstanding.
The other major institutional holder is Morgan Stanley, with the holding of over 16.41 Million shares as of March 30, 2020. The firm’s total holdings are worth over $1.99 Billion and represent 9.16% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard International Growth Fund and Morgan Stanley Inst Fd Inc-Growth Port. As of February 28, 2020, the former fund manager holds about 2.7% shares in the company for having 4839569 shares of worth $663.6 Million while later fund manager owns 2.39 Million shares of worth $289.9 Million as of March 30, 2020, which makes it owner of about 1.33% of company’s outstanding stock.