Spotify Technology S.A. (NYSE:SPOT - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $723.10 and last traded at $716.82, with a volume of 200333 shares traded. The stock had previously closed at $710.85.
Analysts Set New Price Targets
SPOT has been the topic of a number of research reports. Evercore ISI upped their price target on Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a report on Monday. Barclays lowered their target price on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Spotify Technology in a research note on Friday, June 6th. Robert W. Baird boosted their price objective on shares of Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Phillip Securities upgraded shares of Spotify Technology to a "moderate sell" rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Spotify Technology has an average rating of "Moderate Buy" and a consensus price target of $626.14.
Check Out Our Latest Stock Analysis on SPOT
Spotify Technology Stock Performance
The stock's fifty day simple moving average is $634.00 and its two-hundred day simple moving average is $569.07. The company has a market cap of $147.67 billion, a price-to-earnings ratio of 121.24 and a beta of 1.68.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. Spotify Technology's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 EPS. Analysts predict that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.
Institutional Trading of Spotify Technology
A number of institutional investors and hedge funds have recently bought and sold shares of SPOT. Jennison Associates LLC increased its position in shares of Spotify Technology by 42.3% in the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after acquiring an additional 1,262,614 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Spotify Technology by 3.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock valued at $1,939,949,000 after purchasing an additional 112,553 shares in the last quarter. FMR LLC increased its holdings in Spotify Technology by 30.2% in the 4th quarter. FMR LLC now owns 2,041,387 shares of the company's stock valued at $913,276,000 after purchasing an additional 473,569 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of Spotify Technology by 0.4% during the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after purchasing an additional 7,075 shares in the last quarter. Finally, GQG Partners LLC acquired a new position in shares of Spotify Technology during the fourth quarter worth about $800,725,000. Institutional investors and hedge funds own 84.09% of the company's stock.
Spotify Technology Company Profile
(
Get Free Report)
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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