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

Shares of Spotify Technology S.A. (NYSE:SPOT) have been given a consensus rating of “Moderate Buy” by the twenty-five ratings firms that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $276.19.

A number of research analysts have recently commented on SPOT shares. HSBC started coverage on shares of Spotify Technology in a report on Wednesday, March 27th. They issued a “buy” rating and a $310.00 target price for the company. Rosenblatt Securities increased their target price on shares of Spotify Technology from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spotify Technology from $260.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Morgan Stanley raised their price objective on shares of Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. Finally, UBS Group raised their price objective on shares of Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a report on Friday, April 5th.

Institutional Trading of Spotify Technology

Large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its position in Spotify Technology by 195.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the period. Pinnacle Bancorp Inc. acquired a new stake in Spotify Technology in the 4th quarter valued at $29,000. GAMMA Investing LLC acquired a new stake in Spotify Technology in the 4th quarter valued at $32,000. Lindbrook Capital LLC grew its position in Spotify Technology by 32.3% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after purchasing an additional 50 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in Spotify Technology in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Down 1.3 %

SPOT opened at $272.33 on Friday. Spotify Technology has a twelve month low of $128.67 and a twelve month high of $313.16. The company has a 50-day simple moving average of $267.69 and a 200 day simple moving average of $215.78. The stock has a market capitalization of $54.01 billion, a price-to-earnings ratio of -92.00 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.01. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Spotify Technology had a negative net margin of 4.01% and a negative return on equity of 23.43%. Spotify Technology’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.43) earnings per share. Sell-side analysts anticipate that Spotify Technology will post 3.5 EPS for the current fiscal year.

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.