Analysts Set Spotify Technology S.A. (NYSE:SPOT) PT at $359.14

Shares of Spotify Technology S.A. (NYSE:SPOT) have been assigned an average rating of “Moderate Buy” from the twenty-nine ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $360.86.

A number of analysts have recently issued reports on the stock. Pivotal Research boosted their target price on shares of Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Redburn Atlantic restated a “sell” rating and issued a $230.00 target price on shares of Spotify Technology in a research note on Wednesday, July 10th. Guggenheim raised their target price on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. KeyCorp boosted their price target on Spotify Technology from $440.00 to $490.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a report on Monday, October 7th.

Institutional Trading of Spotify Technology

Institutional investors have recently bought and sold shares of the stock. Cim LLC acquired a new stake in shares of Spotify Technology during the fourth quarter worth $1,183,000. Virtu Financial LLC acquired a new stake in Spotify Technology during the 4th quarter worth about $221,000. Royal London Asset Management Ltd. grew its stake in Spotify Technology by 5.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 56,670 shares of the company’s stock valued at $10,649,000 after purchasing an additional 2,966 shares during the last quarter. Greenwood Capital Associates LLC increased its holdings in shares of Spotify Technology by 7.2% in the fourth quarter. Greenwood Capital Associates LLC now owns 21,396 shares of the company’s stock valued at $4,021,000 after purchasing an additional 1,439 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Spotify Technology by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 588,847 shares of the company’s stock worth $110,650,000 after purchasing an additional 34,781 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

Spotify Technology stock opened at $371.67 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $70.69 billion, a P/E ratio of -554.73 and a beta of 1.58. Spotify Technology has a 1-year low of $145.76 and a 1-year high of $389.23. The company’s 50-day moving average is $351.22 and its 200 day moving average is $321.62.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the business posted ($1.69) earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. Research analysts forecast that Spotify Technology will post 6.24 EPS 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.