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

Spotify Technology S.A. (NYSE:SPOT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-eight analysts that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $609.07.

A number of equities analysts have recently issued reports on the company. KeyCorp lowered their price objective on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group raised their price target 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. Canaccord Genuity Group increased their target price on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Loop Capital upped their price objective on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Finally, Redburn Atlantic initiated coverage on Spotify Technology in a research note on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 price objective on the stock.

Institutional Investors Weigh In On Spotify Technology

A number of hedge funds have recently made changes to their positions in SPOT. Mpwm Advisory Solutions LLC bought a new stake in Spotify Technology in the fourth quarter worth $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $27,000. Tsfg LLC purchased a new stake in Spotify Technology during the 1st quarter valued at about $28,000. Copia Wealth Management bought a new position in Spotify Technology during the 4th quarter worth approximately $29,000. Finally, Cornerstone Planning Group LLC increased its stake in Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after purchasing an additional 41 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

Shares of NYSE SPOT traded down $0.81 during mid-day trading on Friday, reaching $653.01. The company had a trading volume of 1,704,907 shares, compared to its average volume of 2,210,489. The business's 50-day simple moving average is $595.79 and its 200 day simple moving average is $545.55. Spotify Technology has a one year low of $288.07 and a one year high of $670.69. The firm has a market cap of $133.68 billion, a price-to-earnings ratio of 109.75 and a beta of 1.72.

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