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.
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where SPOT advanced for three days, in of 324 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 288 cases where SPOT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 19 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
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 of 62 cases within the following month. The odds of a continued downward trend are .
SPOT broke above its upper Bollinger Band on February 06, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. SPOT’s price grows at a higher 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 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 90, placing this stock slightly better than average.
The Tickeron Valuation Rating of (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 (17.762) is normal, around the industry mean (17.133). P/E Ratio (0.000) is within average values for comparable stocks, (51.907). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (3.686). Dividend Yield (0.000) settles around the average of (0.027) among similar stocks. P/S Ratio (3.343) is also within normal values, averaging (9.100).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse 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 SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable 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 average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a music platform
A.I.dvisor indicates that over the last year, SPOT has been loosely correlated with CARG. These tickers have moved in lockstep 44% of the time. This A.I.-generated data suggests there is some statistical probability that if SPOT jumps, then CARG could also see price increases.