Several analysts have recently updated their ratings and price targets for Spotify Technology (NYSE: SPOT):
- 9/30/2024 – Spotify Technology had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $340.00 price target on the stock.
- 9/23/2024 – Spotify Technology had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $340.00 price target on the stock.
- 9/19/2024 – Spotify Technology had its price target raised by analysts at Pivotal Research from $460.00 to $510.00. They now have a “buy” rating on the stock.
- 9/16/2024 – Spotify Technology had its price target raised by analysts at KeyCorp from $420.00 to $440.00. They now have an “overweight” rating on the stock.
- 9/5/2024 – Spotify Technology is now covered by analysts at Cantor Fitzgerald. They set a “neutral” rating and a $340.00 price target on the stock.
- 8/29/2024 – Spotify Technology had its price target raised by analysts at Evercore ISI from $420.00 to $460.00. They now have an “outperform” rating on the stock.
Spotify Technology Stock Down 0.1 %
Shares of SPOT traded down $0.53 during trading hours on Wednesday, reaching $374.87. 1,504,476 shares of the stock traded hands, compared to its average volume of 1,905,782. The stock has a fifty day simple moving average of $341.86 and a 200 day simple moving average of $313.40. Spotify Technology S.A. has a 52 week low of $145.76 and a 52 week high of $389.23. The company has a market cap of $74.62 billion, a price-to-earnings ratio of -559.50 and a beta of 1.57. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31.
Spotify Technology (NYSE:SPOT – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.08 by $0.25. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the company posted ($1.69) EPS. On average, equities analysts forecast that Spotify Technology S.A. will post 6.26 EPS for the current year.
Institutional Inflows and Outflows
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.
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