Shares of Spotify Technology S.A. (NYSE:SPOT – Get Rating) have received an average recommendation of "Hold" from the twenty-eight analysts that are presently covering the company, MarketBeat reports. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $141.88.

A number of research firms recently commented on SPOT. Barclays lowered their price target on shares of Spotify Technology from $135.00 to $131.00 in a research report on Wednesday. Truist Financial reduced their price target on shares of Spotify Technology from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, October 27th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Spotify Technology from $115.00 to $105.00 and set a "hold" rating on the stock in a research note on Monday, October 24th. Wells Fargo & Company cut their target price on shares of Spotify Technology from $132.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 26th. Finally, The Goldman Sachs Group cut their target price on shares of Spotify Technology from $133.00 to $114.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 26th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SPOT. Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in Spotify Technology by 8.2% in the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 19,758 shares of the company's stock worth $1,560,000 after acquiring an additional 1,504 shares during the last quarter. Verde Capital Management boosted its holdings in Spotify Technology by 31.3% during the 4th quarter. Verde Capital Management now owns 17,623 shares of the company's stock valued at $1,391,000 after acquiring an additional 4,202 shares during the period. Xponance Inc. boosted its holdings in Spotify Technology by 15.0% during the 4th quarter. Xponance Inc. now owns 18,964 shares of the company's stock valued at $1,497,000 after acquiring an additional 2,475 shares during the period. Veriti Management LLC boosted its holdings in Spotify Technology by 34.7% during the 4th quarter. Veriti Management LLC now owns 4,899 shares of the company's stock valued at $387,000 after acquiring an additional 1,262 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Spotify Technology by 29.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 974 shares of the company's stock worth $77,000 after buying an additional 221 shares during the period. 52.80% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Spotify Technology (NYSE:SPOT – Get Rating) last issued its quarterly earnings data on Tuesday, October 25th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.11). The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.03 billion. Spotify Technology had a negative net margin of 1.62% and a negative return on equity of 8.21%. As a group, equities research analysts anticipate that Spotify Technology will post -2.64 EPS for the current fiscal year.

Spotify Technology Company Profile

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Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

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