BofA Securities Sets Spotify Technology S.A. (NYSE:SPOT) Stock to “a Buy”

BofA Securities raised the price target for the Spotify Technology S.A. (NYSE:SPOT) stock to “a Buy”. The rating was released on July 02, 2024, according to finviz. We previously noted in another research note published on April 23, 2024 by Pivotal Research Group that reiterated the stock to a Buy with a price target of $400 for SPOT stock. The research report from JP Morgan has reiterated the stock to Overweight, with a price target set at $320. The stock was reiterated by Pivotal Research Group, who disclosed in a research note on April 05, 2024, to Buy and set the price objective to $390. In their research brief published March 27, 2024, HSBC Securities analysts initiated the Spotify Technology S.A. stock to Buy with a price target of $310.

The latest trade, Performances and Moving Averages give us the following Picture

The firm’s stock price fluctuated -0.73% within the last five trades and -2.49% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 60.99% in the last 6 months and 0.80% was added to its value over the previous 3 months. SPOT stock is trading at a margin of -0.68%, 1.87% and 32.26% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.

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As of the close of trading, SPOT deals in the Communication Services domain. The stock is trading -5.90 percent below its 52-week high and 141.08 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 89.87. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.

What Does Spotify Technology S.A.’s Profitability and Valuation Ratios Tell Us About the Stock?

With regard to the profitability of the company, the operating margin is currently at 0.01 percent and the profit margin is -0.80 percent, and the company has reported a gross margin of 26.07 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.

The stock’s market cap achieved a total value of $60.79 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 41.85. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 4.05 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 17.35, which equates the market value of a stock with its book value.

Is Insider Trading a Real Thing?

Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 28.14 percent of Spotify Technology S.A. shares are owned by insiders, and 60.14 percent are held by financial institutions.

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