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

Shares of Spotify Technology S.A. (NYSE:SPOT) have been given a consensus rating of “Moderate Buy” by the twenty-eight analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $441.21.

SPOT has been the topic of a number of research reports. Pivotal Research upped their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Barclays upped their target price on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. KeyCorp boosted their price target on Spotify Technology from $520.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. The Goldman Sachs Group increased their price objective on Spotify Technology from $490.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, UBS Group boosted their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th.

Spotify Technology Stock Up 1.9 %

NYSE:SPOT opened at $511.19 on Monday. Spotify Technology has a 12-month low of $210.34 and a 12-month high of $512.01. The firm has a market capitalization of $101.75 billion, a price-to-earnings ratio of 138.91 and a beta of 1.62. The stock’s 50 day moving average price is $473.74 and its two-hundred day moving average price is $396.25.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts expect that Spotify Technology will post 5.91 EPS for the current year.

Institutional Trading of Spotify Technology

A number of hedge funds have recently added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC bought a new position in shares of Spotify Technology in the 3rd quarter valued at $26,000. Benjamin Edwards Inc. raised its position in Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology during the third quarter valued at about $33,000. Larson Financial Group LLC grew its holdings in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of Spotify Technology in the third quarter valued at approximately $40,000. Institutional investors and hedge funds 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.