Spotify Technology S.A. (SPOT) Stock Could Soon Reward Patient Investors

Spotify Technology S.A. (NYSE: SPOT) is 24.89% higher on its value in year-to-date trading and has touched a low of $114.64 and a high of $248.67 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SPOT stock was last observed hovering at around $240.77 in the last trading session, with the day’s loss setting it -6.09%.

Currently trading at $234.68, the stock is 8.24% and 16.03% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.82 million and changing -2.53% at the moment leaves the stock 40.82% off its SMA200. SPOT registered 94.22% gain for a year compared to 6-month gain of 69.22%. The firm has a 50-day simple moving average (SMA 50) of $3.29 and a 200-day simple moving average (SMA200) of -$146.13.

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The stock witnessed a 16.86% loss in the last 1 month and extending the period to 3 months gives it a 37.82%, and is 5.12% up 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 4.51% over the week and 3.00% over the month.

Fwd P/E is 44.63. Profit margin for the company is -4.01%. Distance from 52-week low is 104.71% and -5.63% from its 52-week high. The company has generated returns on investments over the last 12 months (-12.33%).

Spotify Technology S.A. quarterly earnings per share for the current quarter are estimated at $0.77 with sales reaching $3.88B over the same period.The EPS is expected to grow by 225.41% this year, but quarterly earnings will post 17.10% year-over-year. Quarterly sales are estimated to grow 17.00% in year-over-year returns.

Spotify Technology S.A. (SPOT) Top Institutional Holders

857 institutions hold shares in Spotify Technology S.A. (SPOT), with institutional investors hold 79.70% of the company’s shares. The shares outstanding are 197.14M, and float is at 133.85M with Short Float at 1.18%. Institutions hold 58.11% of the Float.

The top institutional shareholder in the company is Baillie Gifford and Company with over 25.18 million shares valued at $4.04 billion. The investor’s holdings represent 12.93% of the SPOT Shares outstanding. As of Jun 29, 2023, the second largest holder is Morgan Stanley with 9.35 million shares valued at $1.5 billion to account for 4.80% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 6.13 million shares representing 3.15% and valued at over $983.74 million, while Blackrock Inc. holds 2.49% of the shares totaling 4.85 million with a market value of $779.2 million.

Spotify Technology S.A. (SPOT): Who are the competitors?

The company’s main competitors (and peers) include Apple Inc. (AAPL) that is trading 21.64% up over the past 12 months. Alphabet Inc. Cl C (GOOG) that is 56.56% higher over the same period.