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

Shares of Spotify Technology S.A. (NYSE:SPOT) have received a consensus recommendation of “Moderate Buy” from the twenty-eight analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $514.79.

A number of analysts have recently issued reports on SPOT shares. KeyCorp raised their price target on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Benchmark raised their target price on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft raised their target price on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group raised their target price on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays raised their price objective on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th.

Hedge Funds Weigh In On Spotify Technology

A number of institutional investors and hedge funds have recently made changes to their positions in SPOT. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology in the fourth quarter valued at approximately $27,000. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the third quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new position in Spotify Technology during the third quarter worth about $33,000. Larson Financial Group LLC raised its holdings in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares in the last quarter. Finally, Quent Capital LLC lifted its position in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Up 1.2 %

Shares of SPOT opened at $647.97 on Friday. Spotify Technology has a 52-week low of $239.14 and a 52-week high of $652.63. The stock has a fifty day simple moving average of $502.48 and a two-hundred day simple moving average of $421.64. The company has a market capitalization of $128.98 billion, a PE ratio of 108.90 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. Spotify Technology’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, equities analysts anticipate that Spotify Technology will post 9.69 earnings per share 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.