In last trading session, Spotify Technology S.A. (NYSE:SPOT) saw 1.33 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $247.64 trading at $0.53 or 0.21% at ring of the bell on the day assigns it a market valuation of $47.79B. That closing price of SPOT’s stock is at a discount of -56.45% from its 52-week high price of $387.44 and is indicating a premium of 16.6% from its 52-week low price of $206.54. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.32 million shares which gives us an average trading volume of 1.48 million if we extend that period to 3-months.
For Spotify Technology S.A. (SPOT), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.50. Splitting up the data highlights that, out of 31 analysts covering the stock, 3 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 12 suggested the stock as a Hold whereas 14 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.47 in the current quarter.
Spotify Technology S.A. (NYSE:SPOT) trade information
Upright in the green during last session for gaining 0.21%, in the last five days SPOT remained trading in the green while hitting it’s week-highest on Monday, 06/14/21 when the stock touched $247.64 price level, adding 2.28% to its value on the day. Spotify Technology S.A.’s shares saw a change of -21.30% in year-to-date performance and have moved 1.63% in past 5-day. Spotify Technology S.A. (NYSE:SPOT) showed a performance of 12.41% in past 30-days. Number of shares sold short was 4.65 million shares which calculate 4.4 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $262.03 to the stock, which implies a rise of 5.49% to its current value. Analysts have been projecting $142.31 as a low price target for the stock while placing it at a high target of $351.54. It follows that stock’s current price would drop -41.96% in reaching the projected high whereas dropping to the targeted low would mean a gain of 42.53% for stock’s current value.
Spotify Technology S.A. (SPOT) estimates and forecasts
Statistics highlight that Spotify Technology S.A. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -22.26% of value to its shares in past 6 months, showing an annual growth rate of 55.08% while that of industry is 9.10. Apart from that, the company came raising its revenue forecast for fiscal year 2021. The company is estimating its revenue growth to increase by 78.90% in the current quarter and calculating 45.10% increase in the next quarter. This year revenue growth is estimated to rise 22.50% from the last financial year’s standing.
22 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $2.77 billion for the same. And 22 analysts are in estimates of company making revenue of $2.89 billion in the next quarter that will end on Sep 2021. Company posted $2.21 billion and $2.41 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 25.70% while estimating it to be 19.80% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -13.80% during past 5 years.
Spotify Technology S.A. is more likely to be releasing its next quarterly report in July and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Spotify Technology S.A. (NYSE:SPOT)’s Major holders
Insiders are in possession of 28.30% of company’s total shares while institution are holding 60.83 percent of that, with stock having share float percentage of 84.84%. Investors also watch the number of corporate investors in a company very closely, which is 60.83% institutions for Spotify Technology S.A. that are currently holding shares of the company. Baillie Gifford and Company is the top institutional holder at SPOT for having 20.8 million shares of worth $6.54 billion. And as of Dec 30, 2020, it was holding 11.60% of the company’s outstanding shares.
The second largest institutional holder is Morgan Stanley, which was holding about 17.84 million shares on Dec 30, 2020. The number of shares represents firm’s hold over 9.95% of outstanding shares, having a total worth of $5.61 billion.
On the other hand, Vanguard International Growth Fund and ARK ETF Tr-ARK Innovation ETF are the top two Mutual Funds which own company’s shares. As of Feb 27, 2021, the former fund manager was holding 5.49 million shares of worth $1.69 billion or 3.07% of the total outstanding shares. The later fund manager was in possession of 2.65 million shares on Mar 30, 2021, making its stake of worth around $710.61 million in the company or a holder of 1.48% of company’s stock.