Spotify Technology S.A. (NYSE:SPOT) Given Average Recommendation of “Moderate Buy” by Analysts

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

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Spotify Technology from $260.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. KeyCorp increased their price objective on Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. HSBC increased their price objective on Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday. Macquarie increased their price objective on Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Raymond James increased their price objective on Spotify Technology from $260.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th.

Spotify Technology Price Performance

Spotify Technology stock opened at $281.34 on Friday. Spotify Technology has a 12 month low of $128.67 and a 12 month high of $319.30. The business has a 50 day simple moving average of $269.74 and a 200-day simple moving average of $217.24. The stock has a market capitalization of $55.80 billion, a PE ratio of -95.05 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results 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 return on equity of 23.43% and a negative net margin of 4.01%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the business earned ($1.24) earnings per share. As a group, equities research analysts anticipate that Spotify Technology will post 3.5 EPS for the current year.

Hedge Funds Weigh In On Spotify Technology

A number of institutional investors have recently made changes to their positions in SPOT. First Horizon Advisors Inc. grew its position in shares of Spotify Technology by 195.0% in the third quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the period. Pinnacle Bancorp Inc. purchased a new stake in shares of Spotify Technology in the fourth quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in shares of Spotify Technology in the fourth quarter valued at $32,000. Lindbrook Capital LLC grew its position in shares of Spotify Technology by 32.3% in the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after purchasing an additional 50 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Spotify Technology in the first quarter valued at $40,000. 84.09% of the stock is owned by institutional investors and hedge funds.

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.