Short Interest in Spotify Technology SA (NYSE:SPOT) Rises By 26.4%

Spotify Technology SA (NYSE:SPOT) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 5,038,700 shares, an increase of 26.4% from the May 30th total of 3,987,500 shares. Based on an average daily volume of 1,600,000 shares, the days-to-cover ratio is currently 3.1 days. Approximately 4.9% of the shares of the company are short sold.

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Spotify Technology from $180.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Evercore ISI lowered shares of Spotify Technology from an “in-line” rating to an “underperform” rating in a report on Monday, June 24th. Goldman Sachs Group set a €152.00 ($176.74) target price on shares of Aena SME and gave the company a “sell” rating in a report on Tuesday, April 30th. Finally, Pivotal Research reaffirmed a “buy” rating and set a $165.00 target price on shares of Spotify Technology in a report on Monday, April 29th.

Spotify Technology stock traded up $0.84 during trading on Friday, reaching $152.30. The company had a trading volume of 952,016 shares, compared to its average volume of 1,794,493. The company has a 50-day moving average of $140.17. Spotify Technology has a 1-year low of $103.29 and a 1-year high of $198.99. The company has a market capitalization of $27.13 billion, a price-to-earnings ratio of -253.83 and a beta of 1.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.83 and a quick ratio of 0.83.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Monday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.53). Spotify Technology had a negative net margin of 1.08% and a positive return on equity of 13.72%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. As a group, analysts expect that Spotify Technology will post -2.7 EPS for the current fiscal year.

Spotify Technology Company Profile

Spotify Technology SA, together with its subsidiaries, provides music streaming services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers commercial-free music services to subscribers comprising unlimited online and offline high-quality streaming access to its catalog.

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