Spotify Technology’s (SPOT) Neutral Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Spotify Technology (NYSE:SPOT) in a research report report published on Wednesday, Marketbeat reports. They currently have a $658.00 target price on the stock, up from their prior target price of $473.00.

Other equities analysts have also issued research reports about the stock. Benchmark reiterated a “buy” rating and issued a $520.00 target price on shares of Spotify Technology in a research report on Thursday, January 16th. Pivotal Research increased their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. TD Cowen boosted their target price on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Finally, UBS Group lifted their price target on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $509.61.

Spotify Technology Trading Up 0.5 %

SPOT opened at $625.04 on Wednesday. The business’s 50 day moving average is $485.02 and its 200-day moving average is $409.38. The stock has a market cap of $124.41 billion, a PE ratio of 169.85 and a beta of 1.63. Spotify Technology has a twelve month low of $227.52 and a twelve month high of $630.77.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share 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 the consensus estimate of $4.03 billion. During the same period in the previous year, the firm earned $0.36 EPS. The firm’s revenue was up 18.8% on a year-over-year basis. As a group, analysts forecast that Spotify Technology will post 5.91 EPS for the current year.

Institutional Investors Weigh In On Spotify Technology

A number of institutional investors have recently modified their holdings of the stock. SRS Capital Advisors Inc. raised its holdings in shares of Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after acquiring an additional 25 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Spotify Technology by 5.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after buying an additional 26 shares during the last quarter. West Bancorporation Inc. grew its stake in shares of Spotify Technology by 3.4% in the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after buying an additional 27 shares in the last quarter. Joel Isaacson & Co. LLC increased its holdings in Spotify Technology by 1.9% in the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock worth $697,000 after buying an additional 29 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after acquiring an additional 30 shares in the last quarter. 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.