Research Analysts’ Recent Ratings Updates for Spotify Technology (SPOT)

Spotify Technology (NYSE: SPOT) has recently received a number of price target changes and ratings updates:

  • 6/15/2022 – Spotify Technology was upgraded by analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating. They now have a $124.00 price target on the stock, up previously from $101.00.
  • 6/9/2022 – Spotify Technology had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $150.00 to $133.00. They now have a “neutral” rating on the stock.
  • 6/9/2022 – Spotify Technology had its price target raised by analysts at Bank of America Co. from $137.00 to $164.00. They now have a “buy” rating on the stock.
  • 6/6/2022 – Spotify Technology was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $150.00 price target on the stock.
  • 6/3/2022 – Spotify Technology had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $210.00 price target on the stock.
  • 4/29/2022 – Spotify Technology had its price target lowered by analysts at Citigroup Inc. from $240.00 to $165.00.
  • 4/28/2022 – Spotify Technology was downgraded by analysts at Pivotal Research from a “buy” rating to a “hold” rating. They now have a $110.00 price target on the stock, down previously from $235.00.
  • 4/28/2022 – Spotify Technology had its price target lowered by analysts at UBS Group AG from $220.00 to $175.00. They now have a “buy” rating on the stock.
  • 4/28/2022 – Spotify Technology had its price target lowered by analysts at Truist Financial Co. from $210.00 to $150.00.
  • 4/28/2022 – Spotify Technology had its price target lowered by analysts at Loop Capital from $280.00 to $110.00.
  • 4/28/2022 – Spotify Technology had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $140.00 to $115.00.
  • 4/28/2022 – Spotify Technology had its price target lowered by analysts at Barclays PLC from $280.00 to $170.00.
  • 4/28/2022 – Spotify Technology had its price target lowered by analysts at Wells Fargo & Company from $153.00 to $101.00.
  • 4/27/2022 – Spotify Technology was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating.
  • 4/27/2022 – Spotify Technology had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $181.00 to $150.00.
  • 4/25/2022 – Spotify Technology was upgraded by analysts at Redburn Partners from a “sell” rating to a “neutral” rating.

SPOT stock traded up $1.42 during trading on Monday, hitting $99.27. 61,742 shares of the company’s stock were exchanged, compared to its average volume of 2,456,088. The business has a 50-day moving average price of $110.88 and a two-hundred day moving average price of $157.90. The stock has a market capitalization of $18.88 billion, a price-to-earnings ratio of -139.82 and a beta of 1.79. Spotify Technology S.A. has a 52-week low of $89.03 and a 52-week high of $305.60.

Spotify Technology (NYSE:SPOTGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.50. Spotify Technology had a return on equity of 3.02% and a net margin of 0.68%. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the business earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities research analysts predict that Spotify Technology S.A. will post -0.78 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. UMB Bank N A MO acquired a new position in Spotify Technology during the fourth quarter worth $26,000. Lazard Asset Management LLC acquired a new position in Spotify Technology during the fourth quarter worth $26,000. MUFG Americas Holdings Corp acquired a new position in Spotify Technology during the fourth quarter worth $29,000. IFP Advisors Inc grew its holdings in Spotify Technology by 71.6% during the fourth quarter. IFP Advisors Inc now owns 151 shares of the company’s stock worth $35,000 after acquiring an additional 63 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Spotify Technology by 55.0% during the fourth quarter. Fifth Third Bancorp now owns 155 shares of the company’s stock worth $36,000 after acquiring an additional 55 shares during the period. Institutional investors and hedge funds own 56.36% of the company’s stock.

Spotify Technology SA, 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.

Featured Stories

Want More Great Investing Ideas?

Receive News & Ratings for Spotify Technology SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology SA and related companies with MarketBeat.com's FREE daily email newsletter.