In today’s recent session, 0.93 million shares of the Spotify Technology S.A (NYSE:SPOT) have been traded, and its beta is 1.73. Most recently the company’s share price was $590.48, and it changed around -$25.4 or -4.12% from the last close, which brings the market valuation of the company to $118.56B. SPOT at last check was trading at a discount to its 52-week high of $652.63, offering almost -10.53% off that amount. The share price’s 52-week low was $257.56, which indicates that the recent value has risen by an impressive 56.38% since then. We note from Spotify Technology S.A’s average daily trading volume that its 10-day average is 2.54 million shares, with the 3-month average coming to 2.27 million.
Spotify Technology S.A stock received a consensus recommendation rating of Buy, based on a mean score of 1.88. If we narrow it down even further, the data shows that 1 out of 39 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 13 recommended SPOT as a Hold, whereas 17 deemed it a Buy, and 2 rated it as Underweight. Spotify Technology S.A is expected to report earnings per share of 2.31 for the current quarter.
Spotify Technology S.A (NYSE:SPOT) trade information
Instantly SPOT has been showing red trend so far today with a performance of -4.12% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 621.20 on recent trading dayincreased the stock’s daily price by 4.95%. The company’s shares are currently up 31.99% year-to-date, but still up 0.72% over the last five days. On the other hand, Spotify Technology S.A (NYSE:SPOT) is 0.32% up in the 30-day period. We can see from the shorts that 6.89 million shares have been sold at a short interest cover period of 2.49 day(s).
The consensus price target as assigned by Wall Street analysts is $470, which translates to bulls needing to decrease their stock price by -25.63% from its current value. Analyst projections state that SPOT is forecast to be at a low of $430 and a high of $700.
Spotify Technology S.A (SPOT) estimates and forecasts
The year-over-year growth rate is expected to be 16.06%, up from the previous year.
Consensus estimates provided by 21 financial analysts predict the company will bring in an average of 4.22B in revenue for the current quarter. 21 analysts expect Spotify Technology S.A to make 4.4B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 3.64B and 3.81B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 15.96%. Forecasts for the next quarter put sales growth at 15.67%.
Spotify Technology S.A earnings are expected to increase by 83.61% in 2025, but the outlook is positive 45.36% per year for the next five years.
Spotify Technology S.A (NYSE:SPOT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 24.32% of Spotify Technology S.A shares, and 67.70% of them are in the hands of institutional investors. The stock currently has a share float of 89.46%. Spotify Technology S.A stock is held by 1464.0 institutions, with BAILLIE GIFFORD & CO being the largest institutional investor. By 2024-06-30, it held 7.8169% of the shares, which is about 16.1 million shares worth $5.05 billion.
AUSTIN PRIVATE WEALTH, LLC, with 5.8248% or 12.0 million shares worth $377.0 as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard International Growth Fund and JPMorgan Large Cap Growth Fund were the top two Mutual Funds as of Nov 30, 2024. The former held 4.49 shares worth $2.67 billion, making up 2.19% of all outstanding shares. On the other hand, JPMorgan Large Cap Growth Fund held roughly 2.67 shares worth around $1.59 billion, which represents about 1.30% of the total shares outstanding.
