Spotify Technology SA (NYSE:SPOT) Short Interest Update

Spotify Technology SA (NYSE:SPOT) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 6,054,800 shares, a decrease of 11.5% from the June 30th total of 6,843,100 shares. Currently, 5.9% of the company’s shares are short sold. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is presently 4.0 days.

SPOT has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Spotify Technology from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Goldman Sachs Group reaffirmed a “buy” rating and set a $170.00 price objective on shares of Spotify Technology in a research report on Tuesday, April 30th. Stifel Nicolaus raised their price objective on shares of Spotify Technology from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Raymond James raised their price objective on shares of Spotify Technology from $172.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Finally, ValuEngine raised shares of Spotify Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Spotify Technology currently has an average rating of “Buy” and an average price target of $170.25.

Shares of SPOT stock traded down $1.21 during trading hours on Thursday, hitting $145.94. 44,529 shares of the company were exchanged, compared to its average volume of 1,420,208. The stock has a market capitalization of $27.32 billion, a price-to-earnings ratio of -243.12 and a beta of 1.85. Spotify Technology has a fifty-two week low of $103.29 and a fifty-two week high of $196.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.76 and a current ratio of 0.76. The company’s 50 day simple moving average is $149.93.



Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.04. Spotify Technology had a net margin of 4.48% and a return on equity of 13.23%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.83 billion. On average, analysts anticipate that Spotify Technology will post -2.28 earnings per share for the current fiscal year.

About Spotify Technology

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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