Spotify Technology (NYSE:SPOT - Free Report) had its price objective upped by Citigroup from $255.00 to $310.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.
Several other equities analysts also recently commented on the stock. Bank of America increased their target price on shares of Spotify Technology from $315.00 to $370.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. HSBC increased their target price on shares of Spotify Technology from $310.00 to $355.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. UBS Group increased their target price on shares of Spotify Technology from $274.00 to $375.00 and gave the stock a buy rating in a research report on Friday, April 5th. Loop Capital upped their price target on shares of Spotify Technology from $165.00 to $250.00 and gave the company a hold rating in a report on Monday, April 22nd. Finally, Canaccord Genuity Group upped their price target on shares of Spotify Technology from $315.00 to $330.00 and gave the company a buy rating in a report on Monday, April 22nd. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat, Spotify Technology has a consensus rating of Moderate Buy and an average target price of $306.42.
View Our Latest Stock Report on Spotify Technology
Spotify Technology Stock Performance
Shares of NYSE SPOT traded down $1.27 during mid-day trading on Tuesday, reaching $298.21. The company had a trading volume of 1,332,125 shares, compared to its average volume of 2,151,052. Spotify Technology has a twelve month low of $129.23 and a twelve month high of $319.30. The stock has a market capitalization of $56.72 billion, a PE ratio of -445.80 and a beta of 1.61. The stock's 50 day moving average is $276.42 and its 200-day moving average is $225.27.
Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the business posted ($1.24) earnings per share. On average, sell-side analysts anticipate that Spotify Technology will post 4.78 EPS for the current year.
Institutional Investors Weigh In On Spotify Technology
A number of institutional investors have recently added to or reduced their stakes in SPOT. Larson Financial Group LLC raised its stake in shares of Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company's stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Spotify Technology by 195.0% in the third quarter. First Horizon Advisors Inc. now owns 177 shares of the company's stock valued at $27,000 after acquiring an additional 117 shares during the last quarter. Pinnacle Bancorp Inc. bought a new position in shares of Spotify Technology in the fourth quarter valued at approximately $29,000. GAMMA Investing LLC bought a new position in shares of Spotify Technology in the fourth quarter valued at approximately $32,000. Finally, FinTrust Capital Advisors LLC raised its stake in shares of Spotify Technology by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company's stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.
Spotify Technology Company Profile
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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.
Further Reading
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