Spotify Stock Rallies 145% In A Year: Will Q4 Earnings Keep The Music Playing?

Spotify Technology SA SPOT will be reporting its fourth-quarter earnings on Tuesday. Wall Street expects $2.06 in EPS and $4.15 billion in revenues as the company reports before market hours.

The stock is up 145.71% over the past year, 19.83% YTD.

Let’s look at what the charts indicate for Spotify stock and how the stock currently maps against Wall Street estimates.

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SPOT Stock Strongly Bullish Ahead Of Q4 Earnings…

SPOT stock is in a strongly bullish trend, with its share price of $548.55 trading above key exponential moving averages (EMAs) of five-day, 20-day, and 50-day periods. However, selling pressure suggests a risk of potential bearish movement ahead.

Chart created using Benzinga Pro

SPOT stock remains above its eight-day simple moving average (SMA) of $523.47, 20-day SMA of $493.03 and 50-day SMA of $480.44, reinforcing short- and medium-term bullish momentum. Long-term strength is evident, with SPOT stock well above its 200-day SMA of $371.38, confirming an extended uptrend.

Momentum indicators signal both strength and caution. The Moving Average Convergence Divergence (MACD) at 20.53 supports continued bullish momentum, but the Relative Strength Index (RSI) at 76.7 suggests SPOT stock is overbought, potentially signaling a pullback.

Investors should watch for consolidation or a correction before considering new positions, as the stock nears levels where profit-taking could occur.

…Yet Spotify Analysts See Limited Upside

Ratings & Consensus Estimates: The consensus analyst rating on Spotify stock stands at a Buy currently with a price target of $438.39. The latest analyst ratings from Keybanc, Macquarie and Cantor Fitzgerald imply a 3.28% upside for Spotify stock with a $560 price target.

SPOT Stock Price Action: Spotify stock was up 0.7% at $552.45 at last check on Monday.

Read Next:

• Spotify Hits Milestone: $10 Billion Paid to Music Industry in 2024, $60 Billion Since Founding

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