Spotify Technology SA (NYSE:SPOT) Sees Significant Growth in Short Interest

Spotify Technology SA (NYSE:SPOT) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 5,038,700 shares, an increase of 26.4% from the May 30th total of 3,987,500 shares. Based on an average daily volume of 1,600,000 shares, the short-interest ratio is presently 3.1 days. Approximately 4.9% of the shares of the stock are short sold.

Several analysts have recently weighed in on SPOT shares. UBS Group raised their price objective on shares of Spotify Technology from $180.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Pivotal Research restated a “buy” rating and set a $165.00 price objective on shares of Spotify Technology in a research report on Monday, April 29th. Goldman Sachs Group set a €152.00 ($176.74) price objective on shares of Aena SME and gave the company a “sell” rating in a research report on Tuesday, April 30th. Finally, Evercore ISI cut shares of Spotify Technology from an “in-line” rating to an “underperform” rating in a research report on Monday, June 24th.

NYSE:SPOT traded up $0.84 during trading hours on Friday, reaching $152.30. The company’s stock had a trading volume of 952,016 shares, compared to its average volume of 1,794,493. The company has a market capitalization of $27.13 billion, a price-to-earnings ratio of -253.83 and a beta of 1.84. The firm’s 50-day moving average price is $140.17. Spotify Technology has a 1 year low of $103.29 and a 1 year high of $198.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.83 and a quick ratio of 0.83.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Monday, April 29th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.53). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Spotify Technology had a positive return on equity of 13.72% and a negative net margin of 1.08%. Research analysts expect that Spotify Technology will post -2.7 EPS for the current year.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides music streaming services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers commercial-free music services to subscribers comprising unlimited online and offline high-quality streaming access to its catalog.

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