Spotify Technology S.A. (NYSE:SPOT) Given Average Rating of “Hold” by Analysts

Spotify Technology S.A. (NYSE:SPOT – Get Rating) has been given an average rating of “Hold” by the twenty-nine analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $185.16.

SPOT has been the subject of a number of research reports. Evercore ISI reduced their price target on shares of Spotify Technology from $235.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday, July 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Spotify Technology from $140.00 to $115.00 in a report on Thursday, April 28th. The Goldman Sachs Group reduced their price objective on shares of Spotify Technology from $150.00 to $133.00 and set a “neutral” rating for the company in a report on Thursday, June 9th. Morgan Stanley reduced their price objective on shares of Spotify Technology from $170.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Finally, Barclays reduced their price objective on shares of Spotify Technology from $280.00 to $170.00 in a report on Thursday, April 28th.

Institutional Trading of Spotify Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank N A MO bought a new stake in Spotify Technology during the 4th quarter worth approximately $26,000. Lazard Asset Management LLC purchased a new position in Spotify Technology in the 4th quarter worth approximately $26,000. Arlington Partners LLC grew its stake in Spotify Technology by 1,394.7% in the 2nd quarter. Arlington Partners LLC now owns 284 shares of the company’s stock worth $27,000 after buying an additional 265 shares in the last quarter. MUFG Americas Holdings Corp purchased a new position in Spotify Technology in the 4th quarter worth approximately $29,000. Finally, Fifth Third Bancorp grew its stake in Spotify Technology by 55.0% in the 4th quarter. Fifth Third Bancorp now owns 155 shares of the company’s stock worth $36,000 after buying an additional 55 shares in the last quarter. Institutional investors own 56.36% of the company’s stock.

Spotify Technology Stock Up 3.8 %

Shares of NYSE SPOT opened at $120.46 on Thursday. Spotify Technology has a twelve month low of $89.03 and a twelve month high of $305.60. The firm has a fifty day simple moving average of $106.29 and a 200 day simple moving average of $129.93. The company has a market capitalization of $22.91 billion, a PE ratio of -86.66 and a beta of 1.83.

Spotify Technology (NYSE:SPOT – Get Rating) last announced its earnings results on Wednesday, July 27th. The company reported ($0.85) earnings per share 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 the consensus estimate of $2.82 billion. During the same period in the prior year, the business earned ($0.23) EPS. Spotify Technology’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, equities analysts expect that Spotify Technology will post -1.67 earnings per share for the current fiscal year.

About Spotify Technology

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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.