Spotify Technology (NYSE:SPOT – Get Free Report) had its price objective raised by analysts at The Goldman Sachs Group from $277.00 to $317.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 12.97% from the company’s previous close.
Other research analysts have also recently issued reports about the company. KeyCorp lifted their price objective on Spotify Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Loop Capital lifted their price objective on Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday. Morgan Stanley boosted their target price on Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on Spotify Technology from $260.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Bank of America upped their price objective on Spotify Technology from $265.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $290.85.
Check Out Our Latest Report on Spotify Technology
Spotify Technology Trading Down 7.5 %
Spotify Technology (NYSE:SPOT – Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the firm posted ($1.24) earnings per share. On average, sell-side analysts predict that Spotify Technology will post 3.5 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Spotify Technology
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPOT. First Horizon Advisors Inc. increased its holdings 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 during the period. Pinnacle Bancorp Inc. purchased a new stake in Spotify Technology during the 4th quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new stake in Spotify Technology during the 4th quarter valued at approximately $32,000. Lindbrook Capital LLC raised its stake in Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in Spotify Technology during the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.
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.
See Also
- Five stocks we like better than Spotify Technology
- Roth IRA Calculator: Calculate Your Potential Returns
- High-Yield Texas Instruments Could Hit New Highs Soon
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- Pagaya Technologies: An AI Fintech That Insiders Are Buying
- How to buy stock: A step-by-step guide for beginners
- Higher Oil Prices Could Give NextEra’s Stock Earnings a Boost
Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter.