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

Spotify Technology S.A. (NYSE:SPOTGet 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:SPOTGet 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

(Get Rating)

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.

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Analyst Recommendations for Spotify Technology (NYSE:SPOT)

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