Spotify Technology (NYSE:SPOT) Receives Consensus Rating of "Moderate Buy" from Analysts

Spotify Technology (NYSE:SPOT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-eight brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $701.31.

Several analysts have recently commented on SPOT shares. JPMorgan Chase & Co. increased their price target on shares of Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research note on Friday. The Goldman Sachs Group increased their price objective on Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Loop Capital boosted their target price on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Cantor Fitzgerald upped their price target on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Finally, Bank of America lifted their price objective on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th.

Institutional Investors Weigh In On Spotify Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its position in shares of Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after acquiring an additional 41 shares during the last quarter. Tsfg LLC bought a new position in Spotify Technology in the first quarter valued at approximately $28,000. North Star Investment Management Corp. grew its stake in Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in shares of Spotify Technology during the 4th quarter worth approximately $26,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of SPOT stock opened at $708.82 on Monday. The stock's fifty day simple moving average is $689.79 and its 200 day simple moving average is $602.91. The firm has a market cap of $145.10 billion, a price-to-earnings ratio of 117.55, a P/E/G ratio of 1.88 and a beta of 1.68. Spotify Technology has a one year low of $288.07 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($1.16). The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 earnings per share. On average, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

About Spotify Technology

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.

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 contact@marketbeat.com.