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

Spotify Technology S.A. (NYSE:SPOT) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-six analysts that are covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $311.88.

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price 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. The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $277.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Canaccord Genuity Group upped their price target on shares of Spotify Technology from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Barclays upped their price target on shares of Spotify Technology from $335.00 to $350.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Spotify Technology from $365.00 to $375.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th.

Spotify Technology Trading Down 0.2 %

Shares of SPOT stock opened at $315.05 on Thursday. Spotify Technology has a 12 month low of $129.23 and a 12 month high of $331.08. The stock has a market cap of $59.92 billion, a PE ratio of -470.22 and a beta of 1.59. The company’s fifty day moving average price is $304.91 and its 200-day moving average price is $263.01.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the business posted ($1.24) EPS. On average, sell-side analysts forecast that Spotify Technology will post 4.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spotify Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its holdings in Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. FinTrust Capital Advisors LLC boosted its holdings in Spotify Technology by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Spotify Technology in the first quarter worth about $40,000. Pinnacle Bancorp Inc. acquired a new stake in Spotify Technology in the fourth quarter worth about $29,000. Finally, GAMMA Investing LLC acquired a new stake in Spotify Technology in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

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.