Spotify Technology S.A. (NYSE:SPOT) Receives $306.42 Consensus Price Target from Analysts

Shares of Spotify Technology S.A. (NYSE:SPOT) have earned an average rating of “Moderate Buy” from the twenty-seven ratings firms that are presently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $306.42.

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Citigroup lifted their price objective on shares of Spotify Technology from $255.00 to $310.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. KeyCorp boosted their price target on shares of Spotify Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Pivotal Research boosted their price target on shares of Spotify Technology from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, Canaccord Genuity Group boosted their price target on shares of Spotify Technology from $315.00 to $330.00 and gave the company a “buy” rating in a report on Monday, April 22nd.

Spotify Technology Trading Down 1.1 %

Shares of NYSE:SPOT opened at $304.86 on Wednesday. The firm has a market cap of $57.98 billion, a PE ratio of -455.01 and a beta of 1.61. The company has a fifty day simple moving average of $284.71 and a 200 day simple moving average of $235.83. Spotify Technology has a 12-month low of $129.23 and a 12-month high of $319.30.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.42. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. During the same quarter in the previous year, the company posted ($1.24) earnings per share. As a group, equities research analysts forecast that Spotify Technology will post 4.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Spotify Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC raised its holdings in Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after buying an additional 43 shares during the period. FinTrust Capital Advisors LLC raised its holdings in Spotify Technology by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after buying an additional 100 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Spotify Technology during the 1st quarter worth about $40,000. Pinnacle Bancorp Inc. acquired a new stake in Spotify Technology during the 4th quarter worth about $29,000. Finally, GAMMA Investing LLC acquired a new stake in Spotify Technology during the 4th quarter worth about $32,000. 84.09% of the stock is currently owned by institutional investors.

About Spotify Technology

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.