Spotify Technology S.A. (NYSE:SPOT) Receives $265.24 Consensus Target Price from Analysts

Shares of Spotify Technology S.A. (NYSE:SPOT) have been assigned an average rating of “Moderate Buy” from the twenty-seven brokerages that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $301.81.

A number of equities analysts recently issued reports on the company. KeyCorp increased their price objective on Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Pivotal Research increased their price objective on Spotify Technology from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group increased their price objective on Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, April 5th. The Goldman Sachs Group increased their price objective on Spotify Technology from $277.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Bank of America increased their price target on Spotify Technology from $315.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday.

Spotify Technology Trading Down 7.2 %

NYSE:SPOT opened at $281.34 on Friday. The firm has a market capitalization of $55.80 billion, a PE ratio of -95.05 and a beta of 1.63. The stock has a 50 day moving average of $269.74 and a 200-day moving average of $217.24. Spotify Technology has a 52 week low of $128.67 and a 52 week high of $319.30.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.42. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the company posted ($1.24) EPS. As a group, analysts predict that Spotify Technology will post 3.5 EPS for the current fiscal year.

Institutional Trading of Spotify Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. boosted its position in shares of Spotify Technology by 195.0% in the third quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after buying an additional 117 shares during the period. Pinnacle Bancorp Inc. acquired a new stake in shares of Spotify Technology in the fourth quarter worth $29,000. GAMMA Investing LLC acquired a new stake in shares of Spotify Technology in the fourth quarter worth $32,000. Lindbrook Capital LLC boosted its position in shares of Spotify Technology by 32.3% in the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after buying an additional 50 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Spotify Technology in the first quarter worth $40,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Company Profile

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