Spotify Technology S.A., together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its subscribers on their computers, tablets, and compatible mobile devices. The company also offers sales, marketing, contract research and development, and customer support services. As of December 31, 2021, its platform included 406 million monthly active users and 180 million premium subscribers in 184 countries and territories. The company was incorporated in 2006 and is based in Luxembourg, Luxembourg.
Analyst Ratings Changes
Several equities analysts recently issued reports on SPOT shares. Rosenblatt Securities upped their price objective on Spotify Technology from $101.00 to $118.00 and gave the company a "neutral" rating in a research report on Thursday, July 28th. Redburn Partners raised Spotify Technology from a "sell" rating to a "neutral" rating in a research report on Monday, April 25th. Truist Financial lowered their price objective on Spotify Technology from $210.00 to $150.00 in a research report on Thursday, April 28th. KeyCorp lowered their price objective on Spotify Technology from $210.00 to $146.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 26th. Finally, Morgan Stanley lowered their price objective on Spotify Technology from $170.00 to $140.00 and set an "overweight" rating on the stock in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Spotify Technology presently has a consensus rating of "Hold" and an average price target of $183.65.
Spotify Technology Stock Performance
SPOT Stock opened at $123.63 on Friday. The firm has a market cap of $23.52 billion, a price-to-earnings ratio of -88.94 and a beta of 1.83. The firm has a 50-day simple moving average of $107.43 and a two-hundred day simple moving average of $125.94. Spotify Technology has a one year low of $89.03 and a one year high of $305.60.
Spotify Technology (NYSE:SPOT - Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.85) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.17). Spotify Technology had a negative return on equity of 1.15% and a negative net margin of 0.24%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business earned ($0.23) EPS. Spotify Technology's revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, equities analysts predict that Spotify Technology will post -2.03 earnings per share for the current fiscal year.