The Chart of the Day belongs to the music streaming company Spotify Tecnology (SPOT) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 4/23 the stock gained 7.70%.
Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. This segment sells directly to the end users. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its users on their computers, tablets, and compatible mobile devices. The company also offers sales, distribution and marketing, contract research and development, and customer and other support services. Spotify Technology S.A. was incorporated in 2006 and is based in Luxembourg City, Luxembourg.
Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 132.52+ Weighted Alpha
- 115.29% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 7 new highs and up 10.34% in the last month
- Relative Strength Index 65.74%
- Technical support level at $315.87
- Recently traded at $326.68 with 50 day moving average of $293.48
Fundamental Factors:
- Market Cap $59.65 billion
- Revenue expected to grow 20.40% this year and another 14.20% next year
- Earnings estimated to increase 338.80% this year, an additional 42.90% next year and continue to compound at an annual rate of 100.36% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued 19 strong buy, 5 buy, 10 hold and 1 sell recommendation
- Analysts have price targets between $210 and $405 with a consensus of $344
- Value Line rates the stock an average rating of 3 with price target from $131 to $389
- CFRAs MarketScope has a 4 star strong buy and a price target of $355
- MorningStar gives the stock a below average 2 star rating with a Fair Value of $230 - that's 42% overvalued
- 73,940 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
