Is this a Prime Time To acquire Spotify Technology S.A. (SPOT) stock

The price of Spotify Technology S.A. (NYSE: SPOT) closed at $99.29 in the last session, down -0.65% from day before closing price of $99.94. In other words, the price has decreased by -$0.65 from its previous closing price. On the day, 1467635 shares were traded. SPOT stock price reached its highest trading level at $100.51 during the session, while it also had its lowest trading level at $97.95.

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We take a closer look at SPOT’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 4.62 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 85.09. For the most recent quarter (mrq), Quick Ratio is recorded 1.30 and its Current Ratio is at 1.30. In the meantime, Its Debt-to-Equity ratio is 0.81 whereas as Long-Term Debt/Eq ratio is at 0.81.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Jefferies on January 12, 2023, Downgraded its rating to Hold and sets its target price to $95 from $115 previously.

On October 20, 2022, Piper Sandler started tracking the stock assigning a Neutral rating and target price of $87.

Citigroup reiterated its Buy rating for the stock on July 07, 2022, while the target price for the stock was revised from $165 to $150.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 1.50 while its Price-to-Book (P/B) ratio in mrq is 7.93.

Stock Price History:

Over the past 52 weeks, SPOT has reached a high of $208.49, while it has fallen to a 52-week low of $69.29. The 50-Day Moving Average of the stock is 81.18, while the 200-Day Moving Average is calculated to be 98.57.

Shares Statistics:

According to the various share statistics, SPOT traded on average about 2.00M shares per day over the past 3-months and 2.27M shares per day over the past 10 days. A total of 193.08M shares are outstanding, with a floating share count of 141.62M. Insiders hold about 27.18% of the company’s shares, while institutions hold 56.40% stake in the company. Shares short for SPOT as of Oct 13, 2022 were 4.11M with a Short Ratio of 4.68M, compared to 5.02M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 2.13% and a Short% of Float of 3.48%.

Earnings Estimates

The company has 23 analysts who recommend its stock at the moment. On average, analysts expect EPS of -$1.25 for the current quarter, with a high estimate of -$0.76 and a low estimate of -$1.87, while EPS last year was -$0.23. The consensus estimate for the next quarter is -$0.48, with high estimates of $0.13 and low estimates of -$0.85.

Analysts are recommending an EPS of between -$1.33 and -$3.38 for the fiscal current year, implying an average EPS of -$2.62. EPS for the following year is -$1.75, with 25 analysts recommending between $0.62 and -$3.65.

Revenue Estimates

According to 23 analysts, the current quarter’s revenue is expected to be $3.24B. It ranges from a high estimate of $3.29B to a low estimate of $3.21B. As of the current estimate, Spotify Technology S.A.’s year-ago sales were $2.97B, an estimated increase of 9.20% from the year-ago figure. For the next quarter, 10 analysts are estimating revenue of $3.15B, an increase of 12.10% over than the figure of $9.20% in the same quarter last year. There is a high estimate of $3.27B for the next quarter, whereas the lowest estimate is $3.01B.

A total of 28 analysts have provided revenue estimates for SPOT’s current fiscal year. The highest revenue estimate was $11.93B, while the lowest revenue estimate was $10.81B, resulting in an average revenue estimate of $11.84B. In the same quarter a year ago, actual revenue was $10.68B, up 10.90% from the average estimate. Based on 28 analysts’ estimates, the company’s revenue will be $13.68B in the next fiscal year. The high estimate is $14.24B and the low estimate is $13.18B. The average revenue growth estimate for next year is up 15.60% from the average revenue estimate for this year.