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QQQ   301.58 (-0.83%)
AAPL   118.84 (-1.07%)
MSFT   228.74 (+0.89%)
FB   257.11 (-0.21%)
GOOGL   2,046.66 (+0.63%)
TSLA   569.47 (-8.36%)
AMZN   2,922.92 (-1.84%)
NVDA   479.75 (-3.04%)
BABA   230.52 (+0.01%)
CGC   29.44 (-5.06%)
GE   13.38 (-1.40%)
MU   85.06 (+0.87%)
NIO   35.10 (-10.64%)
AMD   76.01 (-2.24%)
T   29.44 (+1.80%)
F   11.91 (-0.17%)
ACB   9.08 (-7.54%)
DIS   185.61 (-1.29%)
BA   217.40 (-3.25%)
NFLX   505.83 (-1.07%)
BAC   36.46 (-0.11%)
QQQ   301.58 (-0.83%)
AAPL   118.84 (-1.07%)
MSFT   228.74 (+0.89%)
FB   257.11 (-0.21%)
GOOGL   2,046.66 (+0.63%)
TSLA   569.47 (-8.36%)
AMZN   2,922.92 (-1.84%)
NVDA   479.75 (-3.04%)
BABA   230.52 (+0.01%)
CGC   29.44 (-5.06%)
GE   13.38 (-1.40%)
MU   85.06 (+0.87%)
NIO   35.10 (-10.64%)
AMD   76.01 (-2.24%)
T   29.44 (+1.80%)
F   11.91 (-0.17%)
ACB   9.08 (-7.54%)
DIS   185.61 (-1.29%)
BA   217.40 (-3.25%)
NFLX   505.83 (-1.07%)
BAC   36.46 (-0.11%)
QQQ   301.58 (-0.83%)
AAPL   118.84 (-1.07%)
MSFT   228.74 (+0.89%)
FB   257.11 (-0.21%)
GOOGL   2,046.66 (+0.63%)
TSLA   569.47 (-8.36%)
AMZN   2,922.92 (-1.84%)
NVDA   479.75 (-3.04%)
BABA   230.52 (+0.01%)
CGC   29.44 (-5.06%)
GE   13.38 (-1.40%)
MU   85.06 (+0.87%)
NIO   35.10 (-10.64%)
AMD   76.01 (-2.24%)
T   29.44 (+1.80%)
F   11.91 (-0.17%)
ACB   9.08 (-7.54%)
DIS   185.61 (-1.29%)
BA   217.40 (-3.25%)
NFLX   505.83 (-1.07%)
BAC   36.46 (-0.11%)
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Spotify Technology (NYSE:SPOT) Lifted to "Hold" at Zacks Investment Research

Last updated on Saturday, February 27, 2021 | 2021 MarketBeat

Spotify Technology (NYSE:SPOT) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research report issued on Saturday, Zacks.com reports.

According to Zacks, "Spotify Technology S.A. provides music streaming services. The Company offers commercial free music and ad-supported services to subscribers. Spotify Technology S.A. is based in Sweden. "

SPOT has been the topic of several other reports. Citigroup reiterated a "sell" rating and set a $310.00 target price (up from $270.00) on shares of Spotify Technology in a research report on Friday, January 15th. Loop Capital boosted their price target on shares of Spotify Technology from $200.00 to $310.00 and gave the company a "hold" rating in a research report on Thursday, February 4th. They noted that the move was a valuation call. Cfra upgraded shares of Spotify Technology from a "hold" rating to a "buy" rating and set a $282.00 price target on the stock in a research report on Wednesday, November 4th. Morgan Stanley boosted their price target on shares of Spotify Technology from $300.00 to $350.00 and gave the company an "overweight" rating in a research report on Thursday, December 17th. Finally, UBS Group reduced their price target on shares of Spotify Technology from $255.00 to $235.00 and set a "sell" rating on the stock in a research report on Thursday, February 4th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the stock. The company has an average rating of "Hold" and an average price target of $294.12.

Shares of Spotify Technology stock opened at $307.38 on Friday. The firm's 50-day simple moving average is $335.17 and its 200-day simple moving average is $289.26. Spotify Technology has a twelve month low of $109.18 and a twelve month high of $387.44. The firm has a market cap of $55.10 billion, a P/E ratio of -72.15 and a beta of 1.64.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Wednesday, February 3rd. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.10. Spotify Technology had a negative net margin of 8.73% and a negative return on equity of 30.46%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the business earned ($1.14) EPS. The firm's revenue was up 16.3% on a year-over-year basis. Sell-side analysts predict that Spotify Technology will post -3.71 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp raised its stake in shares of Spotify Technology by 28.6% during the third quarter. Fifth Third Bancorp now owns 225 shares of the company's stock worth $55,000 after buying an additional 50 shares during the last quarter. BDO Wealth Advisors LLC raised its stake in shares of Spotify Technology by 25.0% during the fourth quarter. BDO Wealth Advisors LLC now owns 250 shares of the company's stock worth $79,000 after buying an additional 50 shares during the last quarter. Samalin Investment Counsel LLC raised its stake in shares of Spotify Technology by 74.3% during the fourth quarter. Samalin Investment Counsel LLC now owns 122 shares of the company's stock worth $38,000 after buying an additional 52 shares during the last quarter. Lindbrook Capital LLC increased its stake in Spotify Technology by 40.3% in the third quarter. Lindbrook Capital LLC now owns 195 shares of the company's stock valued at $47,000 after purchasing an additional 56 shares in the last quarter. Finally, Institutional & Family Asset Management LLC increased its stake in Spotify Technology by 131.1% in the third quarter. Institutional & Family Asset Management LLC now owns 104 shares of the company's stock valued at $25,000 after purchasing an additional 59 shares in the last quarter. 55.93% 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 services in the United States, the United Kingdom, Luxembourg, and internationally. It operates through two segments, Premium and Ad-Supported. The company offers unlimited online and offline high-quality streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

See Also: Stocks at 52 Week High

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Analyst Recommendations for Spotify Technology (NYSE:SPOT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]


7 Stocks to Buy For the Current Housing Boom

It’s been an uneven economic recovery to date. However, one area that is unquestionably booming is the housing market. But the interesting thing is that it took more than low mortgage rates to convince home buyers to take the plunge.

What it took was a pandemic. Think I’m kidding? Look at the Housing Market Index (HMI). In September, the HMI posted a preliminary rating of 83. That’s a historical high. And this marks the fifth consecutive month the HMI has increased.

Simply put, Americans have a renewed interest in spreading out. For some urban apartment dwellers, this means a flight to a place of their own. Some that own homes in more densely populated areas are looking for more wide-open spaces.

And regardless of the outcome of the presidential election, the Federal Reserve has indicated it is in no hurry to raise interest rates. This means that mortgage rates should remain favorable no matter which party occupies the White House.

There are many ways for investors to profit from this housing boom. Homebuilder stocks are a logical choice. But other companies will benefit from the rise in homeownership.

To help you capitalize on this red hot sector, we’ve put together this special presentation.

View the "7 Stocks to Buy For the Current Housing Boom".

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