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

Spotify Technology S.A. (NYSE:SPOT) has received an average recommendation of “Moderate Buy” from the twenty-eight research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $441.21.

A number of analysts have weighed in on the stock. Bank of America raised their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. KeyCorp increased their target price on Spotify Technology from $520.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Morgan Stanley upped their price objective on Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $520.00 target price on shares of Spotify Technology in a research report on Thursday. Finally, TD Cowen raised their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th.

Spotify Technology Stock Down 0.9 %

SPOT opened at $486.07 on Monday. The stock has a market capitalization of $96.75 billion, a price-to-earnings ratio of 132.08 and a beta of 1.62. Spotify Technology has a twelve month low of $200.81 and a twelve month high of $506.47. The company has a 50-day simple moving average of $468.82 and a 200 day simple moving average of $389.91.

Spotify Technology (NYSE:SPOT) last announced 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 firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. Sell-side analysts anticipate that Spotify Technology will post 5.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Spotify Technology

Several large investors have recently modified their holdings of SPOT. Verde Capital Management grew its stake in Spotify Technology by 9.4% during the fourth quarter. Verde Capital Management now owns 8,274 shares of the company’s stock valued at $3,702,000 after acquiring an additional 709 shares in the last quarter. Avior Wealth Management LLC grew its position in Spotify Technology by 58.0% during the fourth quarter. Avior Wealth Management LLC now owns 444 shares of the company’s stock worth $199,000 after buying an additional 163 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in Spotify Technology by 20.1% in the 4th quarter. Raleigh Capital Management Inc. now owns 454 shares of the company’s stock worth $203,000 after acquiring an additional 76 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in shares of Spotify Technology by 18.4% in the 4th quarter. Wesbanco Bank Inc. now owns 6,582 shares of the company’s stock valued at $2,945,000 after acquiring an additional 1,021 shares in the last quarter. Finally, Finley Financial LLC purchased a new position in shares of Spotify Technology during the fourth quarter worth about $95,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

About Spotify Technology

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.