Spotify Technology S.A. (NYSE:SPOT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Spotify Technology S.A. (NYSE:SPOT) have been assigned an average rating of “Moderate Buy” from the twenty-eight analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $429.96.

A number of analysts have weighed in on SPOT shares. Barclays increased their price target on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Bank of America lifted their target price on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $340.00 price objective on shares of Spotify Technology in a research note on Monday, October 7th. Finally, TD Cowen increased their target price on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th.

Institutional Investors Weigh In On Spotify Technology

Hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. increased its holdings in Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after buying an additional 26 shares during the last quarter. West Bancorporation Inc. increased its stake in shares of Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after purchasing an additional 27 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Spotify Technology by 12.0% in the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares during the period. Washington Trust Advisors Inc. lifted its stake in Spotify Technology by 12.0% in the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after purchasing an additional 32 shares during the last quarter. Finally, Rakuten Securities Inc. grew its holdings in Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Trading Down 1.0 %

Shares of SPOT opened at $451.79 on Thursday. The stock’s 50-day moving average price is $445.97 and its two-hundred day moving average price is $375.28. Spotify Technology has a 12 month low of $185.37 and a 12 month high of $506.47. The company has a market capitalization of $89.93 billion, a PE ratio of 122.77 and a beta of 1.61.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. Spotify Technology’s revenue was up 18.8% compared to the same quarter last year. Equities research analysts predict that Spotify Technology will post 6.02 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.