Spotify Technology S.A. (NYSE:SPOT – Get Rating) has received an average rating of "Hold" from the twenty-nine analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $183.42.
Several analysts have weighed in on the company. Bank of America lifted their price objective on Spotify Technology from $137.00 to $164.00 and gave the company a "buy" rating in a research report on Thursday, June 9th. UBS Group lowered their price objective on Spotify Technology from $185.00 to $142.00 and set a "neutral" rating on the stock in a research report on Thursday, July 28th. Raymond James upgraded shares of Spotify Technology from a "market perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research note on Monday, June 6th. JPMorgan Chase & Co. decreased their target price on shares of Spotify Technology from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Wednesday, June 29th. Finally, Rosenblatt Securities decreased their target price on shares of Spotify Technology from $118.00 to $112.00 and set a "neutral" rating for the company in a research note on Wednesday, September 7th.
Get Spotify Technology alerts:Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its holdings in shares of Spotify Technology by 12.8% in the 2nd quarter. Baillie Gifford & Co. now owns 26,199,637 shares of the company's stock valued at $2,458,313,000 after acquiring an additional 2,971,063 shares during the last quarter. ARK Investment Management LLC raised its position in Spotify Technology by 9.3% in the 1st quarter. ARK Investment Management LLC now owns 4,388,330 shares of the company's stock worth $662,726,000 after purchasing an additional 373,446 shares during the period. BlackRock Inc. raised its position in Spotify Technology by 6.3% in the 1st quarter. BlackRock Inc. now owns 4,046,153 shares of the company's stock worth $611,049,000 after purchasing an additional 241,026 shares during the period. Alecta Tjanstepension Omsesidigt raised its position in Spotify Technology by 7.7% in the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 2,785,600 shares of the company's stock worth $261,484,000 after purchasing an additional 200,000 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Spotify Technology in the 1st quarter worth about $321,888,000. Institutional investors own 55.32% of the company's stock.
Spotify Technology Price Performance
Spotify Technology stock opened at $92.45 on Friday. Spotify Technology has a one year low of $89.03 and a one year high of $305.60. The business has a fifty day moving average price of $110.19 and a 200-day moving average price of $114.81. The firm has a market capitalization of $17.59 billion, a P/E ratio of -66.51 and a beta of 1.81.Spotify Technology (NYSE:SPOT – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.23). The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.82 billion. Spotify Technology had a negative return on equity of 1.15% and a negative net margin of 0.24%. The company's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the firm earned ($0.23) EPS. Sell-side analysts expect that Spotify Technology will post -2.03 earnings per share for the current fiscal year.
Spotify Technology Company Profile
(Get Rating)
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.
Featured Articles
- Get a free copy of the StockNews.com research report on Spotify Technology (SPOT)
- The Institutions Hold On To Darden Restaurants International
- What Steelcase's Earnings Say About the Return to the Office?
- These 3 Big Dividend Payers Also Boast Strong Price Growth
- Is The Golden Age Of Homebuilding Already Over?
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
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.