Spotify Technology SA (NYSE:SPOT – Get Free Report ) has received a Moderate Buy consensus recommendation from the 28 brokerages currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a Sell recommendation, five have given it a Hold recommendation, and 22 have rated it with a Buy recommendation. The average 12-month target price among the brokerages that have rated the company’s stock in the past year is $353.15.
SPOT has been the subject of numerous research reports. Macquarie increased their price target on shares of Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Spotify Technology and set a price target of $385.00 (previously $242.00) in a research report on Thursday, July 11th. Guggenheim increased their price target on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Benchmark reaffirmed a “buy” rating on shares of Spotify Technology and set a price target of $405.00 in a research report on Monday, July 22nd. Finally, JPMorgan Chase increased their price objective on Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th.
Check out the latest analysis on Spotify Technology
Spotify Technology Stock Performance
Spotify Technology’s shares opened trading at $321.88 on Monday. The company has a debt-to-earnings ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.42. The company has a market capitalization of $64.07 billion, a price-to-earnings ratio of -480.41, a price-to-earnings-growth ratio of 0.74 and a beta of 1.59. The company’s 50-day simple moving average is $310.88 and its 200-day simple moving average is $278.05. Spotify Technology’s low over the past year is $129.23 and its high over the past year is $346.23.
Spotify Technology (NYSE:SPOT – get free report ) last released its earnings results on Tuesday, July 23rd. The company reported quarterly EPS of $1.33, beating analysts’ consensus estimates of $1.08 by $0.25. The company’s quarterly revenue was $3.81 billion, beating the consensus estimate of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The company’s revenue grew 19.8% year-over-year. During the same period last year, EPS was ($1.69). Analysts on average expect Spotify Technology to report 5.88 EPS this year.
Hedge funds get into Spotify technology
Large investors have been buying and selling the stock recently. HB Wealth Management LLC increased its holdings in Spotify Technology by 8.9% in the second quarter. HB Wealth Management LLC now owns 1,033 shares of the company’s stock valued at $324,000. It purchased an additional 84 shares in the last quarter. Northeast Investment Management acquired a new stake in Spotify Technology in the second quarter valued at approximately $2,432,000. Atomy Financial Group increased its holdings in Spotify Technology by 14.2% in the second quarter. Atomy Financial Group owned 1,274 shares of the company’s stock valued at $400,000 in the second quarter. It purchased an additional 158 shares in the last quarter. Allspring Global Investments Holdings increased its holdings in Spotify Technology by 6.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 296,093 shares of the company’s stock valued at $92,911,000 after purchasing an additional 18,875 shares in the last quarter. Finally, Rational Advisors LLC acquired a new stake in Spotify Technology in the second quarter valued at about $1,632,000. Institutional investors and hedge funds hold 84.09% of the company’s shares.
About Spotify Technology
(Get your free report
Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. The company operates in two segments: Premium and Ad-Supported. The Premium segment offers subscribers unlimited online and offline streaming access to a catalogue of music and podcasts without commercials.
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