Spotify Technology S.A. (NYSE:SPOT – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the twenty-five ratings firms that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $276.19.
A number of brokerages recently issued reports on SPOT. Macquarie upped their price objective on shares of Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday. Rosenblatt Securities upped their price objective on shares of Spotify Technology from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Barclays upped their price objective on shares of Spotify Technology from $270.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. KeyCorp upped their price objective on shares of Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Canaccord Genuity Group upped their price objective on shares of Spotify Technology from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Monday.
Get Our Latest Analysis on SPOT
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Spotify Technology Trading Down 1.3 %
NYSE SPOT opened at $272.33 on Friday. Spotify Technology has a 1-year low of $128.67 and a 1-year high of $313.16. The company has a market capitalization of $54.01 billion, a PE ratio of -92.00 and a beta of 1.63. The firm’s fifty day simple moving average is $267.69 and its 200-day simple moving average is $215.78.
Spotify Technology (NYSE:SPOT – Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. Spotify Technology had a negative net margin of 4.01% and a negative return on equity of 23.43%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the business posted ($1.43) earnings per share. Spotify Technology’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, analysts predict that Spotify Technology will post 3.5 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.
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