In today’s recent session, 5.81 million shares of the Spotify Technology S.A. (NYSE:SPOT) have been traded, and its beta is 1.61. Most recently the company’s share price was $311.39, and it changed around $39.15 or 14.38% from the last close, which brings the market valuation of the company to $60.45B. SPOT at last check was trading at a discount to its 52-week high of $313.16, offering almost -0.57% off that amount. The share price’s 52-week low was $128.67, which indicates that the recent value has risen by an impressive 58.68% since then. We note from Spotify Technology S.A.’s average daily trading volume that its 3-month average coming to 2.02 million.

Spotify Technology S.A. stock received a consensus recommendation rating of Buy, based on a mean score of 1.86. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 2 recommended SPOT as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Spotify Technology S.A. is expected to report earnings per share of $0.69 for the current quarter.

Spotify Technology S.A. (NYSE:SPOT) trade information

Instantly SPOT has been showing a green trend so far today with a performance of 14.38% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 65.71% year-to-date, but still up 4.47% over the last five days. On the other hand, Spotify Technology S.A. (NYSE:SPOT) is 17.53% up in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $222.68, which translates to bulls needing to decrease their stock price by -39.84% from its current value. Analyst projections state that SPOT is forecast to be at a low of $95 and a high of $400.

Spotify Technology S.A. (SPOT) estimates and forecasts

Spotify Technology S.A. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 107.70 percent over the past six months and at a 218.64% annual growth rate that is well above the industry average of 18.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 154.30% in revenue this quarter, and will report an increase of 150.90% in the next quarter. The year-over-year growth rate is expected to be 17.60%, up from the previous year.

Consensus estimates provided by 23 financial analysts predict the company will bring in an average of $3.85 billion in revenue for the current quarter. 22 analysts expect Spotify Technology S.A. to make $4 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $3.32 billion and $3.41 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 15.90%. Forecasts for the next quarter put sales growth at 17.30%. Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -41.57%.