The price of Spotify Technology S.A (NYSE:SPOT) shares last traded on Wall Street rose 11.44% to $467.37.
SPOT stock price is now 25.47% away from the 50-day moving average and 48.77% away from the 200-day moving average. The market capitalization of the company currently stands at $91.60B.
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With the price target enhanced from $510 to $565, Pivotal Research Group maintained Buy rating for Spotify Technology S.A (NYSE: SPOT). On September 19, 2024, Pivotal Research Group reiterated its ‘Buy’ rating on the stock by increasing its target price from $460 to quote $510, while ‘Cantor Fitzgerald’ rates the stock as ‘Neutral’
In other news, Rosello Company Limited, Director bought 959,762 shares of the company’s stock on Nov 13 ’24. The stock was bought for $383,751,238 at an average price of $399.84. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 13 ’24, Director O’NEILL HEIDI bought 2,219 shares of the business’s stock. A total of $1,010,799 was incurred on buying the stock at an average price of $455.52. A total of 27.83% of the company’s stock is owned by insiders.
During the past 12 months, Spotify Technology S.A has had a low of $169.02 and a high of $420.00. As of last week, the company has a debt-to-equity ratio of 0.42, a current ratio of 1.56, and a quick ratio of 1.56. According to the stock market information, the enterprise value for the company is $89916375040, which is based on a 190.33 price-to-earnings ratio, a 4.64 price-to-earnings-growth ratio, and a beta of 1.57. The fifty day moving average price for SPOT is $369.7256 and a two-hundred day moving average price translates $312.90216 for the stock.
The latest earnings results from Spotify Technology S.A (NYSE: SPOT) was released for 2024-09-30. The net profit margin was 3.22% and return on equity was 14.82% for SPOT. The company reported revenue of $4.1 billion for the quarter, compared to $3.46 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 18.35 percent.
