In yesterday’s Wall Street session, Spotify Technology S.A. (NYSE:SPOT) shares traded at $303.31, up 11.41% from the previous session.
SPOT stock price is now 13.61% away from the 50-day moving average and 55.09% away from the 200-day moving average. The market capitalization of the company currently stands at $58.88B.
With the price target enhanced from $390 to $400, Pivotal Research Group maintained Buy rating for Spotify Technology S.A. (NYSE: SPOT). On April 08, 2024, JP Morgan reiterated its ‘Overweight’ rating on the stock by increasing its target price from $280 to quote $320, while ‘Pivotal Research Group’ rates the stock as ‘Buy’
A total of 28.49% of the company’s stock is owned by insiders.
During the past 12 months, Spotify Technology S.A. has had a low of $128.67 and a high of $313.16. As of last week, the company has a debt-to-equity ratio of 0.67, a current ratio of 1.29, and a quick ratio of 1.29.
The net profit margin was -4.01% and return on equity was -21.48% for SPOT. The company reported revenue of $3.95 billion for the quarter, compared to $3.26 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.15 percent.
Spotify Technology S.A.(SPOT) Company Profile
Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. This segment sells directly to the end users. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its users on their computers, tablets, and compatible mobile devices. The company also offers sales, distribution and marketing, contract research and development, and customer and other support services. Spotify Technology S.A. was incorporated in 2006 and is based in Luxembourg City, Luxembourg.
