Spotify Technology (SPOT) Set to Announce Quarterly Earnings on Tuesday

Spotify Technology (NYSE:SPOT) will be issuing its quarterly earnings data after the market closes on Tuesday, November 12th. Analysts expect the company to announce earnings of $1.74 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Spotify Technology Stock Up 0.9 %

Shares of NYSE SPOT traded up $3.38 during midday trading on Tuesday, hitting $381.11. The company’s stock had a trading volume of 297,602 shares, compared to its average volume of 1,833,277. The business’s fifty day simple moving average is $362.26 and its two-hundred day simple moving average is $329.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. Spotify Technology has a 1 year low of $164.83 and a 1 year high of $397.20. The firm has a market capitalization of $75.86 billion, a price-to-earnings ratio of 154.18 and a beta of 1.56.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Redburn Atlantic reaffirmed a “sell” rating and issued a $230.00 target price on shares of Spotify Technology in a report on Wednesday, July 10th. TD Cowen raised their price objective on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Wolfe Research started coverage on shares of Spotify Technology in a report on Friday, July 12th. They issued an “outperform” rating and a $390.00 target price on the stock. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 target price on the stock in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $376.21.

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.