Analysts Set Spotify Technology S.A. (NYSE:SPOT) Target Price at $209.85

Shares of Spotify Technology S.A. (NYSE:SPOT – Get Rating) have earned an average recommendation of “Hold” from the thirty analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $209.85.

A number of equities analysts recently weighed in on SPOT shares. Morgan Stanley lowered their price target on shares of Spotify Technology from $300.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Citigroup decreased their target price on shares of Spotify Technology from $240.00 to $165.00 in a report on Friday, April 29th. TheStreet lowered shares of Spotify Technology from a “c-” rating to a “d+” rating in a report on Tuesday, March 15th. Zacks Investment Research lowered shares of Spotify Technology from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th. Finally, Barclays decreased their target price on shares of Spotify Technology from $280.00 to $170.00 in a report on Thursday, April 28th.

Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC boosted its stake in Spotify Technology by 26.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,358 shares of the company’s stock worth $1,722,000 after purchasing an additional 1,558 shares during the period. Eidelman Virant Capital lifted its stake in shares of Spotify Technology by 4.0% in the 4th quarter. Eidelman Virant Capital now owns 21,776 shares of the company’s stock worth $5,120,000 after acquiring an additional 835 shares during the period. Nordea Investment Management AB lifted its stake in shares of Spotify Technology by 977.9% in the 4th quarter. Nordea Investment Management AB now owns 44,971 shares of the company’s stock worth $10,826,000 after acquiring an additional 40,799 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Spotify Technology in the 4th quarter worth $43,000. Finally, CWM LLC acquired a new stake in shares of Spotify Technology in the 4th quarter worth $3,038,000. Hedge funds and other institutional investors own 56.36% of the company’s stock.

Shares of SPOT stock traded up $4.35 on Friday, reaching $112.97. 2,716,319 shares of the company were exchanged, compared to its average volume of 2,482,692. The company has a market cap of $21.49 billion, a price-to-earnings ratio of -159.11 and a beta of 1.80. The business has a 50-day moving average price of $123.31 and a 200 day moving average price of $174.07. Spotify Technology has a 1 year low of $89.03 and a 1 year high of $305.60.

Spotify Technology (NYSE:SPOT – Get Rating) last released its earnings results on Wednesday, April 27th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.40. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Spotify Technology had a net margin of 0.68% and a return on equity of 3.02%. The company’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.30) earnings per share. Analysts anticipate that Spotify Technology will post -0.59 EPS for the current year.

Spotify Technology Company Profile (Get Rating)

Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

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