Spotify Technology S.A. (NYSE:SPOT) Receives $359.14 Average Target Price from Analysts

Spotify Technology S.A. (NYSE:SPOT) has earned a consensus rating of “Moderate Buy” from the twenty-nine analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $362.21.

A number of equities analysts have commented on SPOT shares. Redburn Atlantic reissued a “sell” rating and set a $230.00 target price on shares of Spotify Technology in a report on Wednesday, July 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $340.00 price target on shares of Spotify Technology in a report on Monday, October 7th. Macquarie raised their target price on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. UBS Group raised their target price on Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Benchmark reissued a “buy” rating and set a $405.00 target price on shares of Spotify Technology in a research note on Monday, July 22nd.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $378.81 on Friday. The company has a market capitalization of $75.40 billion, a P/E ratio of 154.62 and a beta of 1.58. The business’s 50 day moving average is $352.57 and its two-hundred day moving average is $322.71. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology has a 12-month low of $145.76 and a 12-month high of $389.23.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPOT. Transcendent Capital Group LLC purchased a new stake in Spotify Technology during the 2nd quarter worth about $25,000. Benjamin Edwards Inc. lifted its holdings in Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after buying an additional 43 shares during the last quarter. Mather Group LLC. lifted its holdings in Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in Spotify Technology during the 3rd quarter worth about $40,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

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.