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

Shares of Spotify Technology S.A. (NYSE:SPOT) have received a consensus recommendation of “Moderate Buy” from the twenty-nine analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty-three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $421.69.

SPOT has been the topic of several analyst reports. Pivotal Research lifted their target price on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley upped their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Benchmark raised their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Monday, November 11th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in shares of Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after acquiring an additional 26 shares during the last quarter. West Bancorporation Inc. lifted its stake in Spotify Technology by 3.4% in the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after purchasing an additional 27 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of 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 buying an additional 30 shares during the period. Washington Trust Advisors Inc. grew its stake in shares of Spotify Technology by 12.0% during the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after buying an additional 32 shares during the last quarter. Finally, Rakuten Securities Inc. raised its holdings in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after buying an additional 32 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Up 0.4 %

Spotify Technology stock opened at $476.96 on Friday. Spotify Technology has a 52-week low of $179.66 and a 52-week high of $489.69. The company has a market cap of $94.94 billion, a P/E ratio of 129.61 and a beta of 1.56. The business has a 50-day simple moving average of $404.30 and a two-hundred day simple moving average of $350.65.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. Research analysts anticipate that Spotify Technology will post 6.02 EPS for the current fiscal year.

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.