Spotify Technology S.A. (NYSE:SPOT) traded at $225.81 at last check on Wednesday, Sep 16, making a downturn move of -5.08% on its previous day’s price.
Looking at the stock we see that its previous close was $237.91 and the beta (5Y monthly) reads 0 with the day’s price range being $220.70 – 236.73. The company has a 12-month trailing PE ratio of 0. In terms of its 52-week price range, SPOT has a high of $299.67 and a low of $109.18. The company’s stock has gained about -5.34% over that past 30 days.
Spotify has a market cap of $45.71 Billion and is expected to release its quarterly earnings report on Oct 26, 2020- Oct 30, 2020. With its Forward Dividend at 0 and a yield of 0%, the company’s investors could be worried for the SPOT stock to lose ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of -$0.61, with the EPS growth for the year declined at -$3.68 for 2020 and -$1.4 for next year. These figures represent 2.57% and at -0.62% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $2.37 Billion, with a low of $2.31 Billion and a high of $2.43 Billion. The median projection represents growth adding up to 20.8% compared to sales earnings for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecasts for 2020 are expected to hit $9.42 Billion, or +39.3% up from figures reported last year.
On the other hand, looking at the outlook for the SPOT stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 50% Buy.
Based on estimates by 31 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 9 have rated the Spotify Technology S.A. (SPOT) stock as a Hold, while 14 rate it as a Buy. 1 analysts rate it as outperform while 2 of them rated it as underperform, whereas 5 suggests the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.
Let’s briefly compare Spotify (SPOT) stock to its peers. We find that today’s price change of -5.08% and +85.62% over the past 12 months for SPOT competes that of Thomson Reuters Corp (TRI), which has seen its stock price rise 0.27% in the latest trading session and is +18.49% over the last one year. Another of its peers Docusign Inc (DOCU) has dropped -2.94% today, and is +226.47% up over the past year, while Iqvia Holdings Inc (IQV) is also down -5.08% yet its price remains in the green at 85.62% over the same period. Thomson has a P/E ratio of 105.09 compared to Spotify’s 0 and Docusign’s 0. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.56% and 0.78%, respectively, in early deals.
Coming back to Spotify Technology S.A. (NYSE:SPOT), we note that the average 3-month trading volume was 2.89 Million, while that of the preceding 10-day period stands at 1.56 Million. Current shares outstanding are 187.34 Million.
According to data from Thomson Reuters, insiders hold 29.24% of the company’s shares while institutions hold 58.54%. The data shows that short shares as of August 30, 2020, stood at 2.98 Million at a short ratio of 2.02. This represents a 1.59% Short interest in Shares outstanding on August 30, 2020. Shares short dropped in August from the previous month at 2.99 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock +59.08% up in year-to-date price movement.