Spotify Technology (NYSE:SPOT) Posts Earnings Results, Misses Expectations By $0.18 EPS

Spotify Technology (NYSE:SPOT) posted its quarterly earnings results on Tuesday. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.18), Zacks reports. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $549.45 on Tuesday. The company has a market capitalization of $109.37 billion, a PE ratio of 149.31 and a beta of 1.63. The stock has a fifty day moving average of $480.71 and a 200-day moving average of $405.25. Spotify Technology has a one year low of $219.36 and a one year high of $560.36.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPOT. Phillip Securities restated an “accumulate” rating and set a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. The Goldman Sachs Group boosted their price target on shares of Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. TD Cowen increased their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Canaccord Genuity Group boosted their target price on shares of Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Pivotal Research raised their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $451.39.

About Spotify Technology

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.