Spotify Technology (NYSE:SPOT) Given Average Rating of “Moderate Buy” by Analysts

Shares of Spotify Technology (NYSE:SPOTGet Free Report) have been given an average rating of “Moderate Buy” by the thirty-five brokerages that are presently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation, twenty-four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $698.9063.

A number of research analysts recently commented on the company. Phillip Securities raised Spotify Technology from a “hold” rating to a “moderate buy” rating in a report on Monday, November 10th. The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $735.00 to $700.00 in a research report on Friday, January 23rd. Moffett Nathanson started coverage on shares of Spotify Technology in a research report on Tuesday, January 27th. They set a “neutral” rating and a $487.00 target price for the company. Rosenblatt Securities cut their target price on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Finally, Sanford C. Bernstein reduced their price target on shares of Spotify Technology from $830.00 to $650.00 and set an “outperform” rating on the stock in a report on Wednesday, January 14th.

Get Our Latest Research Report on SPOT

Hedge Funds Weigh In On Spotify Technology

Institutional investors have recently added to or reduced their stakes in the company. KERR FINANCIAL PLANNING Corp bought a new position in shares of Spotify Technology during the 3rd quarter valued at approximately $26,000. Knuff & Co LLC bought a new stake in Spotify Technology in the second quarter worth $27,000. Heartwood Wealth Advisors LLC purchased a new stake in Spotify Technology during the third quarter valued at $27,000. Greykasell Wealth Strategies Inc. lifted its position in Spotify Technology by 3,800.0% during the third quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Finally, Total Investment Management Inc. bought a new position in Spotify Technology during the second quarter valued at $29,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology News Summary

Here are the key news stories impacting Spotify Technology this week:

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $514.02 on Tuesday. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00. The company has a market capitalization of $105.80 billion, a P/E ratio of 53.32, a P/E/G ratio of 1.12 and a beta of 1.66. The company has a fifty day moving average of $512.60 and a 200 day moving average of $607.63.

Spotify Technology (NYSE:SPOTGet Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $2.00. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.88 earnings per share. Analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Spotify Technology Company Profile

(Get Free Report)

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.

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Analyst Recommendations for Spotify Technology (NYSE:SPOT)

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