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

Spotify Technology S.A. (NYSE:SPOT) has earned an average recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $301.81.

Several research analysts have commented on SPOT shares. Canaccord Genuity Group upped their price objective on shares of Spotify Technology from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Guggenheim upped their price objective on shares of Spotify Technology from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday. Pivotal Research increased their price target on shares of Spotify Technology from $390.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday. KeyCorp increased their price target on shares of Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Finally, The Goldman Sachs Group increased their price target on shares of Spotify Technology from $277.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday.

Spotify Technology Trading Up 0.2 %

Shares of NYSE SPOT opened at $289.68 on Friday. Spotify Technology has a 12 month low of $128.67 and a 12 month high of $319.30. The firm has a market capitalization of $57.45 billion, a PE ratio of -432.35 and a beta of 1.63. The firm has a fifty day simple moving average of $271.48 and a two-hundred day simple moving average of $218.66.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the business earned ($1.24) EPS. On average, sell-side analysts predict that Spotify Technology will post 3.97 earnings per share for the current year.

Institutional Trading of Spotify Technology

A number of institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of Spotify Technology by 16.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,699,008 shares of the company’s stock valued at $572,015,000 after acquiring an additional 523,237 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Spotify Technology by 61.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company’s stock valued at $459,364,000 after acquiring an additional 1,133,305 shares during the last quarter. AMF Tjanstepension AB boosted its holdings in shares of Spotify Technology by 1.3% in the third quarter. AMF Tjanstepension AB now owns 2,025,000 shares of the company’s stock worth $313,146,000 after buying an additional 25,000 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Spotify Technology by 11.5% in the third quarter. Acadian Asset Management LLC now owns 1,916,821 shares of the company’s stock worth $296,376,000 after buying an additional 197,368 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of Spotify Technology by 24.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,400,811 shares of the company’s stock worth $263,226,000 after buying an additional 277,733 shares during the last quarter. 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.