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Spotify Stock Has Been Volatile since Its IPO Last Year

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SPOT’s returns

It’s just been over a year since music streaming giant Spotify (SPOT) entered the public market via an IPO in April 2018. Spotify closed trading at $149.01 on April 3, 2018. The stock has generated a return of -5.3% since then to close at $141.13.

Spotify stock is trading 29% below its 52-week high of $198.99 and 37% above its 52-week low of $103.29. The stock is up over 24% so far in 2019.

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Will Spotify shares rise over the next 12 months?

Analysts remain optimistic about Spotify’s stock performance over the next 12 months. Of the 29 analysts covering Spotify, 21 have given it “buys,” six have given it “holds,” and two have given it “sells.” Analysts have a 12-month average price target of $163.90 on the stock, which indicates a potential upside of 16% from its current price.

Technical indicators

On April 5, Spotify closed the trading day at $141.13. Based on that price, the stock was trading as follows:

  • 5.4% above its 100-day moving average of $133.92
  • 0.12% above its 50-day moving average of $140.96
  • 0.01% above its 20-day moving average of $141.11

MACD and RSI

Spotify’s 14-day MACD (moving average convergence divergence) is 1.34. A stock’s MACD marks the difference between its short-term and long-term moving averages. Spotify’s positive MACD score indicates an upward trading trend.

Spotify has a 14-day RSI (relative strength index) score of 50, which shows that its stock is trading right in between oversold and overbought territory. An RSI score of above 70 indicates that a stock is overbought, while an RSI score of below 30 indicates that a stock is oversold.

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