Spotify Technology (NYSE:SPOT) Raised to Hold at DZ Bank

Spotify Technology (NYSE:SPOTGet Free Report) was upgraded by investment analysts at DZ Bank from a “sell” rating to a “hold” rating in a report released on Wednesday, Briefing.com reports. The firm currently has a $240.00 price objective on the stock. DZ Bank’s target price would indicate a potential upside of 3.46% from the company’s previous close.

A number of other analysts also recently weighed in on SPOT. TD Cowen began coverage on shares of Spotify Technology in a report on Monday, October 23rd. They issued a “market perform” rating and a $129.00 target price on the stock. Pivotal Research upped their price target on shares of Spotify Technology from $265.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday. Rosenblatt Securities upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and upped their price target for the company from $150.00 to $300.00 in a report on Monday, December 11th. Wells Fargo & Company upped their price target on shares of Spotify Technology from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Finally, The Goldman Sachs Group upped their price target on shares of Spotify Technology from $171.00 to $195.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.63.

Read Our Latest Research Report on Spotify Technology

Spotify Technology Trading Up 3.9 %

NYSE:SPOT opened at $231.97 on Wednesday. The company has a 50 day simple moving average of $199.44 and a two-hundred day simple moving average of $171.40. The company has a market cap of $45.27 billion, a PE ratio of -57.99 and a beta of 1.60. Spotify Technology has a 12 month low of $114.64 and a 12 month high of $248.67. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.57.

Spotify Technology (NYSE:SPOTGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Spotify Technology had a negative net margin of 5.70% and a negative return on equity of 32.26%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.43) EPS. Research analysts forecast that Spotify Technology will post -2.6 earnings per share for the current year.

Institutional Trading of Spotify Technology

Several institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. increased its holdings in shares of Spotify Technology by 195.0% in the third quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new position in shares of Spotify Technology during the 4th quarter worth $29,000. GAMMA Investing LLC acquired a new position in shares of Spotify Technology during the 4th quarter valued at about $32,000. Quarry LP acquired a new position in Spotify Technology in the 2nd quarter valued at about $35,000. Finally, First Manhattan Co. grew its stake in shares of Spotify Technology by 65.8% in the 1st quarter. First Manhattan Co. now owns 252 shares of the company’s stock valued at $38,000 after buying an additional 100 shares during the period. 56.89% of the stock is owned by institutional investors and hedge funds.

About Spotify Technology

(Get Free Report)

Spotify Technology SA, together with its subsidiaries, provides audio streaming 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.

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Analyst Recommendations for Spotify Technology (NYSE:SPOT)

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