During the last session, Spotify Technology S.A. (NYSE:SPOT)’s traded shares were 2.99 million, with the beta value of the company hitting 1.62. At the end of the trading day, the stock’s price was $310.31, reflecting an intraday gain of 4.85% or $14.35. The 52-week high for the SPOT share is $304.00, that puts it up 2.03 from that peak though still a striking 58.54% gain since the share price plummeted to a 52-week low of $128.67. The company’s market capitalization is $60.24B, and the average intraday trading volume over the past 10 days was 1.88 million shares, and the average trade volume was 1.93 million shares over the past three months.
Spotify Technology S.A. (NYSE:SPOT) trade information
Spotify Technology S.A. (SPOT) registered a 4.85% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.85% in intraday trading to $310.31, hitting a weekly high. The stock’s 5-day price performance is 17.59%, and it has moved by 15.77% in 30 days. Based on these gigs, the overall price performance for the year is 130.06%. The short interest in Spotify Technology S.A. (NYSE:SPOT) is 1.78 million shares and it means that shorts have 1.02 day(s) to cover.
Spotify Technology S.A. (SPOT) estimates and forecasts
Statistics show that Spotify Technology S.A. has outperformed its competitors in share price, compared to the industry in which it operates. Spotify Technology S.A. (SPOT) shares have gone up 94.45% during the last six months, with a year-to-date growth rate more than the industry average at 219.32% against 16.80. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 161.40% this quarter and then jump 150.30% in the quarter after that. In the rating firms’ projections, revenue will increase 17.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $3.91 billion as predicted by 22 analyst(s). Meanwhile, a consensus of 20 analyst(s) estimates revenue growth to $4.07 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $3.32 billion and $3.41 billion respectively. In this case, analysts expect current quarter sales to grow by 17.80% and then jump by 19.20% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -41.57%. While earnings are projected to return 231.83% in 2024.
SPOT Dividends
Spotify Technology S.A. is due to release its next quarterly earnings between April 23 and April 29. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Spotify Technology S.A. (NYSE:SPOT)’s Major holders
Spotify Technology S.A. insiders own 26.32% of total outstanding shares while institutional holders control 59.42%, with the float percentage being 80.65%. Baillie Gifford and Company is the largest shareholder of the company, while 922 institutions own stock in it. As of Jun 29, 2023, the company held over 25.18 million shares (or 12.93% of all shares), a total value of $4.04 billion in shares.
The next largest institutional holding, with 9.35 million shares, is of Morgan Stanley’s that is approximately 4.80% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $1.5 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Spotify Technology S.A. (SPOT) shares are Vanguard International Growth Fund and Price (T.Rowe) Mid Cap Growth Fund. Data provided on May 30, 2023 indicates that Vanguard International Growth Fund owns about 9.31 million shares. This amounts to just over 4.78 percent of the company’s overall shares, with a $1.39 billion market value. The same data shows that the other fund manager holds slightly less at 1.6 million, or about 0.82% of the stock, which is worth about $256.82 million.
