Spotify Technology S.A. (SPOT) has had mixed performance in the stock market lately. Analysts have varying opinions on SPOT’s future, with some seeing it as a “buy” and others as a “hold.” However, SPOT’s stock is currently trading far below its 50-day moving average and 52-week high. Despite this, the company’s stock fundamentals remain strong.
SPOT’s market performance saw a -0.54% decrease in the past week, with a monthly gain of 9.65% and a quarterly increase of 64.89%. The volatility ratio for the week was 2.98%, and the volatility levels for the last 30 days were 3.32%. SPOT’s simple moving average for the last 20 days is 2.33%, while the simple moving average for the last 200 days is 27.96%.
The estimated average price for SPOT by analysts is $124.65, which is $2.37 higher than its current price. The public float for SPOT is 140.64M, and currently, short sellers hold 2.00% of that float. SPOT’s equity return is at -18.90, with -5.80 for asset returns.
Overall, while SPOT’s recent market volatility has caused a decrease in its stock price, its fundamentals remain strong, and analysts have a positive outlook on its future.
Spotify Technology S.A. (NYSE: SPOT) experienced a decrease of -1.05% in its stock price compared to its previous closing price of 129.48. The estimated average price for SPOT by analysts is $124.65, which is $2.37 higher than its current price. The public float for SPOT is 140.64M, and currently, short sellers hold 2.00% of that float. The average trading volume of SPOT on March 29, 2023, was 2.04M shares.
SPOT’s market performance saw a -0.54% decrease in the past week, with a monthly gain of 9.65% and a quarterly increase of 64.89%. The volatility ratio for the week was 2.98%, and the volatility levels for the last 30 days were 3.32%. SPOT’s simple moving average for the last 20 days is 2.33%, while the simple moving average for the last 200 days is 27.96%.
According to Guggenheim’s research report published on March 22nd, 2023, the predicted price for SPOT in the upcoming period is $155, which is listed as a “Buy.” Redburn’s research note predicts SPOT to reach a price target of $140 and also gives it a “Buy” rating. Wells Fargo gives SPOT an “Overweight” rating and sets the target price at $180.
SPOT is currently trading +39.17% higher than its 50-day moving average, and its equity return is at -18.90, with -5.80 for asset returns. In the last 5 trading sessions, SPOT fell by -0.54%. However, over the last 30 days, the volatility rate increased by 2.98%, as shares surge +10.16% for the moving average over the last 20 days.
Despite recent market volatility, SPOT’s stock fundamentals remain strong, and it is expected to perform well in the upcoming period, according to analyst reports.
Spotify Technology S.A. (SPOT) has had a mixed performance lately, with bullish opinions from analysts who view it as a “buy” or a “hold.” However, the stock is currently trading far from its 50-day moving average and 52-week high.
Don’t miss interesting posts on Famousbio
