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Insider Trading At Spotify Technology S.A. (NYSE: SPOT): What Did We Note?

Spotify Technology S.A. (NYSE:SPOT) traded at $95.68 at last check on Tuesday, 01/24/23, made a downward move of -3.64% on its previous day’s price.

Looking at the stock we see that its previous close was $99.29 and the beta (5Y monthly) reads 1.66 with the day’s price range being $97.95 – $100.51. In terms of its 52-week price range, SPOT has a high of $208.49 and a low of $69.29. The company’s stock has gained about 28.13% over that past 30 days.

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Spotify Technology S.A. has a market cap of $18.33 billion and is expected to release its quarterly earnings report on Jan 31, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$1.39, with the EPS growth for the year raised at -$3.05 for 2022 and -$1.86 for next year. These figures represent -190.50% and 39.00% 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 $3.44 billion, with a low of $2.92 billion and a high of $3.53 billion. The median projection represents growth squeezing down to 25.70% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $12.85 billion, or 30.50% up from figures reported last year.

There have been 2 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SPOT stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of Hold.

Based on estimates by 33 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 18 have rated the Spotify Technology S.A. (SPOT) stock as a Hold, while 12 rate it as a Buy. 3 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest 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.

Looking further, we note the current price level is 9.78% off its SMA20 and 17.06% from its 50-day simple moving average. The RSI (14) is pointing at 66.42 while the volatility over the past week is 3.33% and jumps to 3.49% over the past one month. The beta value is 1.68, while the average true range (ATR) is currently pointing at 3.52. The average price target for the stock over the next 12 months is $110.37, with the estimates having a low of $78.28 and a high of $161.07. These price ends are 18.19% and -68.34% off the today’s price level respectively, although investors could be excited at the prospect of a -14.97% if the SPOT share price touches on the median price of $110.00.

Let’s briefly compare Spotify Technology S.A. (SPOT) stock to its peers. We find that today’s price change of -3.64% and -49.22% over the past 12 months for SPOT competes that of Apple Inc. (AAPL), which has seen its stock price fall -2.06% in the latest trading session and is -12.24% over the last one year. Another of its peers Alphabet Inc. (GOOG) has dropped -3.35% today, and was -23.74% down over the past year, while Alphabet Inc. (GOOGL) is also down -3.43% yet, while its price remains in the red at -25.05% over the same period. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -1.45% and -1.08%, respectively, in early deals.

Coming back to Spotify Technology S.A. (NYSE:SPOT), we note that the average 3-month trading volume was 1.93 million, while that of the preceding 10-day period stands at 2.28 million. Current shares outstanding are 193.08 million.

The insiders hold 27.18% of the company’s shares while institutions hold 56.40%. The data shows that short shares as of Dec 29, 2022, stood at 4.68 million at a short ratio of 2.84. This represents a 2.42% short interest in shares outstanding on Dec 29, 2022. Shares short rose in December from the previous month at 3.94 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 25.76% up in year-to-date price movement.

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