Spotify Technology (NYSE:SPOT - Get Free Report) had its price target increased by research analysts at UBS Group from $680.00 to $895.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target would suggest a potential upside of 15.42% from the company's current price.
Other research analysts have also issued reports about the company. Robert W. Baird boosted their target price on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. China Renaissance assumed coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price objective on the stock. Sanford C. Bernstein upgraded shares of Spotify Technology to a "strong-buy" rating in a research note on Tuesday, June 3rd. Barclays reduced their price objective on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Loop Capital upped their price objective on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Spotify Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $654.93.
Read Our Latest Research Report on SPOT
Spotify Technology Stock Performance
Shares of NYSE SPOT opened at $775.46 on Friday. The stock has a market cap of $158.74 billion, a P/E ratio of 128.52, a P/E/G ratio of 1.93 and a beta of 1.68. Spotify Technology has a 52-week low of $288.07 and a 52-week high of $786.50. The firm has a 50 day moving average price of $661.04 and a 200 day moving average price of $581.19.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued 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). Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The firm's quarterly revenue was up 15.2% on a year-over-year basis. Analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Spotify Technology
Several hedge funds have recently added to or reduced their stakes in SPOT. Cornerstone Planning Group LLC raised its position in Spotify Technology by 512.5% during 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 last quarter. Tsfg LLC acquired a new stake in shares of Spotify Technology in the first quarter valued at about $28,000. North Star Investment Management Corp. raised its position in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after acquiring an additional 19 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new position in shares of Spotify Technology in the fourth quarter worth approximately $26,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Spotify Technology in the fourth quarter valued at approximately $27,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.
About Spotify Technology
(
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.
Further Reading
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