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

Spotify is the leading global music streaming service provider, with over 600 million monthly active users and 250 million paying subscribers, with the latter comprising the firm's premium segment. Most of the firm's revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a very comprehensive music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also sells separate audiobook subscriptions and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.

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

As of November 5, 2024, SPOT stock price climbed to $382.63 with 962,381 million shares trading.

SPOT has a beta of 0.75, meaning it tends to be less sensitive to market movements. SPOT has a correlation of 0.09 to the broad based SPY ETF.

SPOT has a market cap of $76.84 billion. This is considered a Large Cap stock.

Last quarter Spotify Technology S.A. reported $4 billion in Revenue and $1.43 earnings per share. This fell short of revenue expectation by $-71 million and exceeded earnings estimates by $.28.

In the last 3 years, SPOT traded as high as $397.20 and as low as $69.29.

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

SPOT has outperformed the market in the last year with a price return of +125.1% while the SPY ETF gained +34.3%. SPOT has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +15.7% and +0.2%, respectively, while the SPY returned +8.5% and -1.2%, respectively.

SPOT support price is $371.80 and resistance is $383.66 (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 shares will trade within this expected range on the day.