Spotify Technology S.A. (NYSE:SPOT) Given Consensus Rating of "Moderate Buy" by Analysts

Spotify Technology S.A. (NYSE:SPOT - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-nine research firms that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and twenty-one have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $604.76.

SPOT has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. 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 report on Thursday. 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 report on Thursday, February 6th. Rosenblatt Securities dropped their target price on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Cantor Fitzgerald reduced their price target on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th.

Hedge Funds Weigh In On Spotify Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPOT. Mpwm Advisory Solutions LLC acquired a new position in shares of Spotify Technology during the fourth quarter valued at $26,000. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology during the 4th quarter valued at about $27,000. Tsfg LLC bought a new stake in shares of Spotify Technology during the 1st quarter worth about $28,000. Copia Wealth Management bought a new stake in shares of Spotify Technology during the 4th quarter worth about $29,000. Finally, Cornerstone Planning Group LLC boosted its holdings 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 in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded up $40.51 during midday trading on Wednesday, hitting $642.77. 4,848,856 shares of the company's stock traded hands, compared to its average volume of 2,164,733. The firm's fifty day moving average price is $570.40 and its two-hundred day moving average price is $515.58. Spotify Technology has a twelve month low of $286.21 and a twelve month high of $653.32. The company has a market cap of $131.58 billion, a PE ratio of 108.03 and a beta of 1.72.

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 the consensus estimate of $2.29 by ($1.16). The company had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. Spotify Technology's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. As a group, equities research analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal 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.