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Spotify (SPOT, $282.45) get buy rating from Jefferies,
Spotify Technology shares got a buy rating from Jefferies, as the latter initiated coverage of the audio streaming company. Jefferies set a $360 price target.
Jefferies analyst Andrew Uerkwitz wrote in a note that Spotify will company will probably become “the primary audio platform for creators.”
Uerkwitz mentioned that Spotify’s dominance would lead to more loyal users and a “longer tail of growth/margin expansion”. The analyst also indicated that new technologies are less likely to disrupt Spotify’s business model.
According to Uerkwitz, the company’s shares have substantial long-term opportunity and is trading at a discount to other content platform companies.
SPOT in upward trend: price may ascend as a result of having broken its lower Bollinger Band on April 27, 2022
SPOT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In 28 of 33 cases where SPOT's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are 85%.
Current price $101.17 crossed the support line at $140.52 and is trading between $140.52 support and $-17.00 support lines. Throughout the month of 04/13/22 - 05/16/22, the price experienced a -28% Downtrend, while the week of 05/09/22 - 05/16/22 shows a +7% Uptrend.
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where SPOT's RSI Indicator exited the oversold zone, 20 of 31 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 65%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 41 of 54 cases where SPOT's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 76%.
The Moving Average Convergence Divergence (MACD) for SPOT just turned positive on May 13, 2022. Looking at past instances where SPOT's MACD turned positive, the stock continued to rise in 28 of 39 cases over the following month. The odds of a continued upward trend are 72%.
Following a +15.39% 3-day Advance, the price is estimated to grow further. Considering data from situations where SPOT advanced for three days, in 200 of 264 cases, the price rose further within the following month. The odds of a continued upward trend are 76%.
The Momentum Indicator moved below the 0 level on May 16, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on SPOT as a result. In 57 of 74 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 77%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SPOT declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 74%.
The Aroon Indicator for SPOT entered a downward trend on May 16, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 49%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.82.
The Tickeron SMR rating for this company is 53 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 69 (best 1 - 100 worst), pointing to slightly better than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 78 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (9.058) is normal, around the industry mean (17.644). P/E Ratio (0.000) is within average values for comparable stocks, (50.361). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (4.062). Dividend Yield (0.000) settles around the average of (0.021) among similar stocks. P/S Ratio (1.935) is also within normal values, averaging (96.547).
The Tickeron Price Growth Rating for this company is 91 (best 1 - 100 worst), indicating slightly worse than average price growth. SPOT’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SPOT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 91, placing this stock worse than average.
Companies in this industry typically license software on a subscription basis and it is centrally hosted. Such products usually go by the names web-based software, on-demand software and hosted software. Cloud computing has emerged as a major force in this space, making it possible to save files to a remote database (without requiring them to be saved on local storage device); as long as a device has access to the web, it can access the data and the software programs to run it. This has in many cases facilitated cost efficiency, speed and security of data for businesses and consumers. Alphabet Inc., Facebook, Inc. and Yahoo! Inc. are some well-known names in the internet software/services industry.
The average market capitalization across the Internet Software/Services Industry is 37.8B. The market cap for tickers in the group ranges from 1.1K to 1.5T. GOOG holds the highest valuation in this group at 1.5T. The lowest valued company is MSEZ at 1.1K.
The average weekly price growth across all stocks in the Internet Software/Services Industry was -1.33%. For the same Industry, the average monthly price growth was -13.34%, and the average quarterly price growth was -12.74%. NIROF experienced the highest price growth at 58.84%, while PRSNF experienced the biggest fall at -38.8%.
- 5/5/22 4:57 AM: Spotify Technology SA (SPOT, $112.55) was a top weekly gainer, with a +16.43% jump
- 3/30/22 5:33 AM: Spotify Technology SA (SPOT, $157.31) was a top weekly gainer, with a +6.67% jump
- 3/19/22 4:49 AM: Spotify Technology SA (SPOT, $144.78) was a top weekly gainer, with a +16.49% jump
The average weekly volume growth across all stocks in the Internet Software/Services Industry was 23.5%. For the same stocks of the Industry, the average monthly volume growth was 16.55% and the average quarterly volume growth was 101.71%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Positive Outlook today, backed by the RSI Indicator. Tickeron has a positive outlook on this group and predicts a further increase by more than 4.00% within the next month with a likelihood of 54%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.21.
4 stocks in the group of tickers confirmed the positive outlook based on the MACD indicator with average odds of 76%.
The average market capitalization across the group is 10.2B. The market cap for tickers in the group ranges from 299.1M to 39.1B. BIDU holds the highest valuation in this group at 39.1B. The lowest valued company is EGAN at 299.1M.
The average weekly price growth across all stocks in the group was 4.53%. For the same group, the average monthly price growth was -18.22%, and the average quarterly price growth was -26.53%. ANGI experienced the highest price growth at 33.15%, while MSTR experienced the biggest fall at -8.01%.
- 5/14/22 4:23 AM: Angi (ANGI, $5.1) was a top weekly gainer, with a +24.09% jump. Expect an Uptrend continuation
- 5/6/22 5:04 AM: CoStar Group (CSGP, $61) was a top loser this week, declining -6.81%
- 5/4/22 8:26 AM: VNET Group (VNET, $6.5) was a top weekly gainer, with a +24.76% jump
The average weekly volume growth across all stocks in the group was -62.4%. For the same stocks of the group, the average monthly volume growth was -23.49% and the average quarterly volume growth was -32.75%
- 5/13/22 4:49 AM: The volume for MicroStrategy stock increased for one day, resulting in a record-breaking daily growth of 724% of the 65-Day Volume Moving Average
- 5/11/22 7:39 AM: The volume for MicroStrategy stock increased for one day, resulting in a record-breaking daily growth of 261% of the 65-Day Volume Moving Average
- 3/19/22 4:44 AM: The volume for Baidu stock increased for one day, resulting in a record-breaking daily growth of 259% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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