Spotify Technology S.A. (NYSE:SPOT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Spotify Technology S.A. (NYSE:SPOT) have been given an average recommendation of “Moderate Buy” by the twenty-six research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $317.08.

Several research firms have recently commented on SPOT. Benchmark raised their target price on shares of Spotify Technology from $325.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Redburn Atlantic restated a “sell” rating and issued a $230.00 target price on shares of Spotify Technology in a research note on Wednesday. Guggenheim raised their target price on shares of Spotify Technology from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group raised their price objective on shares of Spotify Technology from $277.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $320.00 price objective (up previously from $300.00) on shares of Spotify Technology in a research note on Wednesday, April 24th.

Institutional Investors Weigh In On Spotify Technology

Several institutional investors have recently bought and sold shares of SPOT. Larson Financial Group LLC grew its stake in Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after buying an additional 43 shares during the period. Pinnacle Bancorp Inc. acquired a new position in shares of Spotify Technology during the fourth quarter worth $29,000. Mather Group LLC. lifted its position in shares of Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Spotify Technology during the fourth quarter worth $32,000. Finally, FinTrust Capital Advisors LLC lifted its position in shares of Spotify Technology by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $305.00 on Thursday. Spotify Technology has a 1 year low of $129.23 and a 1 year high of $331.08. The company has a market capitalization of $58.01 billion, a P/E ratio of -455.22, a PEG ratio of 0.83 and a beta of 1.59. The company’s fifty day moving average is $308.22 and its two-hundred day moving average is $267.62.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the business earned ($1.24) EPS. As a group, equities analysts expect that Spotify Technology will post 4.96 earnings per share for the current year.

About Spotify Technology

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.