As of close of business last night, Spotify Technology S.A.’s stock clocked out at $129.21, up 2.83% from its previous closing price of $125.65. In other words, the price has increased by $+3.56 from its previous closing price. On the day, 1406964 shares were traded. SPOT stock price reached its highest trading level at $130.08 during the session, while it also had its lowest trading level at $124.24.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
To gain a deeper understanding of SPOT’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 7.18 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 1146.77. For the most recent quarter (mrq), Quick Ratio is recorded 1.20 and its Current Ratio is at 1.20. In the meantime, Its Debt-to-Equity ratio is 0.70 whereas as Long-Term Debt/Eq ratio is at 0.70.
Upgrades & Downgrades
On February 06, 2023, Wells Fargo Upgraded its rating to Overweight which previously was Equal Weight and also upped its target price recommendation from $121 to $180.
Atlantic Equities Upgraded its Neutral to Overweight on February 06, 2023, while the target price for the stock was maintained at $160.
For the stock, the TTM Price-to-Sale (P/S) ratio is 2.05 while its Price-to-Book (P/B) ratio in mrq is 9.83.
Stock Price History:
Over the past 52 weeks, SPOT has reached a high of $160.06, while it has fallen to a 52-week low of $69.29. The 50-Day Moving Average of the stock is 110.94, while the 200-Day Moving Average is calculated to be 99.49.
It appears that SPOT traded 2.07M shares on average per day over the past three months and 1.69M shares per day over the past ten days. A total of 193.23M shares are outstanding, with a floating share count of 140.64M. Insiders hold about 27.63% of the company’s shares, while institutions hold 56.40% stake in the company. Shares short for SPOT as of Jan 30, 2023 were 3.71M with a Short Ratio of 3.66M, compared to 4.68M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.92% and a Short% of Float of 3.31%.
As of right now, 22 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of -$0.9 for the current quarter, with a high estimate of -$0.56 and a low estimate of -$1.43, while EPS last year was $0.22. The consensus estimate for the next quarter is -$0.61, with high estimates of -$0.28 and low estimates of -$1.13.
Analysts are recommending an EPS of between -$0.86 and -$4.34 for the fiscal current year, implying an average EPS of -$2.09. EPS for the following year is -$0.11, with 22 analysts recommending between $2.49 and -$3.18.
In the current quarter, 23 analysts expect revenue to total $3.31B. It ranges from a high estimate of $3.36B to a low estimate of $3.27B. As of the current estimate, Spotify Technology S.A.’s year-ago sales were $2.71B, an estimated increase of 22.10% from the year-ago figure. For the next quarter, 22 analysts are estimating revenue of $3.51B, an increase of 20.20% less than the figure of $22.10% in the same quarter last year. There is a high estimate of $3.61B for the next quarter, whereas the lowest estimate is $3.42B.
A total of 25 analysts have provided revenue estimates for SPOT’s current fiscal year. The highest revenue estimate was $14.71B, while the lowest revenue estimate was $14.11B, resulting in an average revenue estimate of $14.41B. In the same quarter a year ago, actual revenue was $12.57B, up 14.60% from the average estimate. Based on 24 analysts’ estimates, the company’s revenue will be $16.47B in the next fiscal year. The high estimate is $17.35B and the low estimate is $15.71B. The average revenue growth estimate for next year is up 14.30% from the average revenue estimate for this year.