In the last trading session, 2.29 million Spotify Technology S.A (NYSE:SPOT) shares changed hands as the company’s beta touched 1.73. With the company’s per share price at $569.48 changed hands at -$27.98 or -4.68% during last session, the market valuation stood at $114.34B. SPOT’s last price was a discount, traded about -14.6% off its 52-week high of $652.63. The share price had its 52-week low at $249.58, which suggests the last value was 56.17% up since then. When we look at Spotify Technology S.A’s average trading volume, we note the 10-day average is 3.3 million shares, with the 3-month average coming to 2.24 million.
Analysts gave the Spotify Technology S.A (SPOT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.90. If we narrow down to specifics, the data shows that 0 out of 29 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended SPOT as a Hold, 25 felt it is a Buy and 0 rated the stock as Underweight. Spotify Technology S.A’s EPS for the current quarter is expected to be 2.31.
Spotify Technology S.A (NYSE:SPOT) trade information
Instantly SPOT was in red as seen at the end of in last trading. With action 12.01%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 27.29%, with the 5-day performance at 12.01% in the green. However, in the 30-day time frame, Spotify Technology S.A (NYSE:SPOT) is -10.76% down. Looking at the short shares, we see there were 6.46 million shares sold at short interest cover period of 2.65 days.
The consensus price target for the stock as assigned by Wall Street analysts is 450, meaning bulls need a downside of -26.55% from its current market value. According to analyst projections, SPOT’s forecast low is 425 with 700 as the target high. To hit the forecast high, the stock’s price needs a -22.92% plunge from its current level, while the stock would need to tank 25.37% for it to hit the projected low.
Spotify Technology S.A (SPOT) estimates and forecasts
Year-over-year growth is forecast to reach 16.01% up from the last financial year.
Consensus estimates given by 21 financial analysts project the company’s revenue in the current quarter to hit an average of 4.22B. 21 analysts are of the opinion that Spotify Technology S.A’s revenue for the current quarter will be 4.4B. The company’s revenue for the corresponding quarters a year ago was 3.64B and 3.81B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 15.96%. The estimates for the next quarter sales put growth at 15.67%.
The 2025 estimates are for Spotify Technology S.A earnings to increase by 81.86%, but the outlook for the next 5-year period is at 44.77% per year.
SPOT Dividends
Spotify Technology S.A is expected to release its next quarterly earnings report on 2025-Feb-03.
Spotify Technology S.A (NYSE:SPOT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 24.32% of Spotify Technology S.A shares while 67.69% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 89.45%. There are 67.69% institutions holding the Spotify Technology S.A stock share, with BAILLIE GIFFORD & CO the top institutional holder. As of 2024-06-30, the company held 7.8169% of the shares, roughly 16.1 million SPOT shares worth $5.05 billion.
AUSTIN PRIVATE WEALTH, LLC holds the second largest percentage of outstanding shares, with 5.8248% or 12.0 million shares worth $377.0 as of 2024-06-30.
Among Mutual Funds, the top two as of Nov 30, 2024 were Vanguard International Growth Fund and JP Morgan Large Cap Growth Fund . With 4.49 shares estimated at $2.56 billion under it, the former controlled 2.19% of total outstanding shares. On the other hand, JP Morgan Large Cap Growth Fund held about 1.30% of the shares, roughly 2.67 shares worth around $1.52 billion.
