SPOT Stock Summary and Trading Ideas (Spotify Technology S.A. | NYSE:SPOT)

Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.

Spotify Technology S.A. trades on the NYSE stock market under the symbol SPOT.

As of April 18, 2024, SPOT stock price declined to $289.20 with 1,858,124 million shares trading.

SPOT has a beta of 0.97, meaning it tends to be less sensitive to market movements. SPOT has a correlation of 0.10 to the broad based SPY ETF.

SPOT has a market cap of $56.43 billion. This is considered a Large Cap stock.

Last quarter Spotify Technology S.A. reported $4 billion in Revenue and -$.39 earnings per share. This fell short of revenue expectation by $-109 million and missed earnings estimates by -$.25.

In the last 3 years, SPOT stock traded as high as $313.16 and as low as $69.29.

The top ETF exchange traded funds that SPOT belongs to (by Net Assets): RAYD, IWP, IWF, IWR, VONG.

SPOT has outperformed the market in the last year with a price return of +116.2% while the SPY ETF gained +22.3%. SPOT has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +45.6% and -0.9%, respectively, while the SPY returned +6.1% and -3.8%, respectively.

SPOT support price is $285.79 and resistance is $301.37 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SPOT stock will trade within this expected range on the day.