Spotify Technology (NYSE:SPOT) Stock Rating Upgraded by Phillip Securities

Spotify Technology (NYSE:SPOT - Get Free Report) was upgraded by research analysts at Phillip Securities to a "moderate sell" rating in a research report issued on Monday,Zacks.com reports.

SPOT has been the topic of several other reports. Morgan Stanley boosted their target price on shares of Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Canaccord Genuity Group increased their price objective on Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. UBS Group lowered their target price on Spotify Technology from $690.00 to $680.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Citigroup raised their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group upped their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus target price of $604.76.

Spotify Technology Stock Down 0.5 %

Shares of NYSE SPOT opened at $634.42 on Monday. Spotify Technology has a 12 month low of $286.21 and a 12 month high of $653.32. The company has a market cap of $129.87 billion, a price-to-earnings ratio of 106.63 and a beta of 1.72. The business has a fifty day simple moving average of $571.98 and a 200-day simple moving average of $519.24.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). The firm had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. Spotify Technology's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 earnings per share. As a group, sell-side analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Institutional Trading of Spotify Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPOT. Freemont Management S.A. acquired a new position in Spotify Technology in the first quarter valued at approximately $1,870,000. Pacer Advisors Inc. boosted its position in shares of Spotify Technology by 13.2% in the 1st quarter. Pacer Advisors Inc. now owns 1,431 shares of the company's stock worth $787,000 after purchasing an additional 167 shares during the last quarter. Assetmark Inc. grew its stake in shares of Spotify Technology by 1.3% during the first quarter. Assetmark Inc. now owns 31,391 shares of the company's stock worth $17,266,000 after purchasing an additional 405 shares during the period. Nicholas Wealth LLC. acquired a new position in Spotify Technology in the first quarter valued at about $1,041,000. Finally, Cetera Investment Advisers boosted its holdings in Spotify Technology by 14.2% during the first quarter. Cetera Investment Advisers now owns 23,513 shares of the company's stock worth $12,933,000 after buying an additional 2,917 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Company Profile

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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