Spotify Technology S.A.
SPOT Details
Spotify Technology S.A. (NYSE: SPOT) is a Luxembourg-based music streaming service provider in 178 countries and territories, with plans to expand to 85 more countries and areas in Asia, Africa, the Caribbean, Europe, and Latin America in February 2021. Its platform had 381 million monthly active users (MAUs) and 172 million Premium subscribers as of September 30, 2021. Subscriptions and advertising are now employed to monetize the company's services.
Latest News:
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Valuation Methodology: EV/Sales Multiple Based Relative Valuation
(Analysis by Kalkine Group)
* % Premium/(Discount) is based on our assessment of the company's NTM trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
SPOT Daily Technical Chart (Source: REFINITIV)
Stock Recommendation:
SPOT's share price has fallen 17.10% in the past month and is currently leaning towards lower band of its 52-week range of USD 201.68 to USD 387.44. The stock is currently trading below its 50 and 200 DMA levels, and its RSI Index is at 36.59. We have valued the stock using the EV/Sales-based relative valuation methodology and arrived at a target price of USD 270.70.
Considering the correction in the stock price in the past month, market dominance in the music streaming industry, recent acquisition, and current valuation, we recommend a "Buy" rating on the stock at the current price of USD 225.46, down 0.48% as of December 17, 2021, at 10:23 AM ET.
* The reference data in this report has been partly sourced from REFINITIV.
* All forecasted figures and industry information have been taken from REFINITIV.
* Depending upon the risk tolerance, investors may consider unwinding their positions in a respective stock once the estimated target price is reached.
Discovery, Inc.
DISCA Details
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