Spotify Technology S.A. (NYSE:SPOT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Spotify Technology S.A. (NYSE:SPOT) have been assigned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $265.24.

A number of equities analysts have issued reports on SPOT shares. DZ Bank raised Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 target price on the stock in a research report on Wednesday, February 7th. UBS Group raised their price objective on shares of Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, April 5th. KeyCorp upped their target price on shares of Spotify Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Pivotal Research lifted their price target on Spotify Technology from $330.00 to $390.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, HSBC initiated coverage on shares of Spotify Technology in a research report on Wednesday, March 27th. They issued a “buy” rating and a $310.00 price target on the stock.

Institutional Trading of Spotify Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPOT. First Horizon Advisors Inc. grew its position in Spotify Technology by 195.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after purchasing an additional 117 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new position in shares of Spotify Technology during the 4th quarter valued at $29,000. GAMMA Investing LLC acquired a new position in shares of Spotify Technology in the fourth quarter worth $32,000. Quarry LP purchased a new stake in shares of Spotify Technology during the second quarter worth $35,000. Finally, LM Advisors LLC acquired a new stake in Spotify Technology during the fourth quarter valued at $37,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of SPOT opened at $275.79 on Friday. Spotify Technology has a 12 month low of $128.67 and a 12 month high of $313.16. The stock has a market cap of $54.70 billion, a PE ratio of -93.17 and a beta of 1.63. The stock’s 50-day moving average is $266.94 and its two-hundred day moving average is $214.16.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, February 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.01. Spotify Technology had a negative net margin of 4.01% and a negative return on equity of 23.43%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company earned ($1.43) earnings per share. Spotify Technology’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, research analysts anticipate that Spotify Technology will post 3.51 earnings per share for the current year.

Spotify Technology Company Profile

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