Spotify Technology S.A. (NYSE: SPOT) is -15.73% lower on its value in year-to-date trading and has touched a low of $136.62 and a high of $387.44 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SPOT stock was last observed hovering at around $261.71 in the last trading session, with the day’s gains setting it 3.45% off its average median price target of $283.04 for the next 12 months. It is also 26.65% off the consensus price target high of $361.52 offered by 31 analysts, but current levels are -189.73% lower than the price target low of $91.52 for the same period.
Currently trading at $265.16, the stock is -3.31% and -9.80% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.48 million and changing 1.32% at the moment leaves the stock -6.55% off its SMA200. SPOT registered 89.75% gain for a year compared to 6-month gain of 1.61%. The firm has a 50-day simple moving average (SMA 50) of $275.11 and a 200-day simple moving average (SMA200) of $295.74.
The stock witnessed a -0.80% loss in the last 1 month and extending the period to 3 months gives it a -23.87%, and is -11.54% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.63% over the week and 3.66% over the month.
Spotify Technology S.A. (SPOT) has around 5584 employees, a market worth around $51.77B and $9.43B in sales. Profit margin for the company is -7.40%. Distance from 52-week low is 94.09% and -31.56% from its 52-week high. The company has generated returns on investments over the last 12 months (-4.90%).
Spotify Technology S.A. (SPOT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Spotify Technology S.A. (SPOT) is a “Overweight”. 31 analysts offering their recommendations for the stock have an average rating of 2.70, where 13 rate it as a Hold and 0 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.
Spotify Technology S.A. quarterly earnings per share for the current quarter are estimated at -$0.49 with sales reaching $2.58B over the same period.The EPS is expected to shrink by -201.30% this year, but quarterly earnings will post 21.10% year-over-year. Quarterly sales are estimated to grow 39.80% in year-over-year returns.
Spotify Technology S.A. (SPOT) Top Institutional Holders
810 institutions hold shares in Spotify Technology S.A. (SPOT), with 53.84M shares held by insiders accounting for 28.30% while institutional investors hold 84.53% of the company’s shares. The shares outstanding are 189.87M, and float is at 133.03M with Short Float at 3.84%. Institutions hold 60.61% of the Float.
The top institutional shareholder in the company is Baillie Gifford and Company with over 20.8 million shares valued at $6.54 billion. The investor’s holdings represent 11.60% of the SPOT Shares outstanding. As of Dec 30, 2020, the second largest holder is Morgan Stanley with 17.84 million shares valued at $5.61 billion to account for 9.95% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 14.25 million shares representing 7.95% and valued at over $4.48 billion, while Jennison Associates LLC holds 3.37% of the shares totaling 6.04 million with a market value of $1.9 billion.