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Spotify Technology (MIL:1SPOT) Momentum Rank : 0 (As of May. 29, 2024)


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What is Spotify Technology Momentum Rank?

Spotify Technology has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

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Spotify Technology (MIL:1SPOT) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Communication Services » Interactive Media » Spotify Technology SA (MIL:1SPOT) » Definitions » Momentum Rank
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Traded in Other Exchanges
SPOT:USA SPOT:Mexico 639:Germany 639:Germany S1PO34:Brazil SPOT:Austria
Address
5, Place de la Gare, Luxembourg, LUX, L-1616
Website
https://www.spotify.com
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 489 million total listeners. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 87% and 13% of Spotify's 2022 total revenue, respectively.

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