Brokerages Set Spotify Technology S.A. (NYSE:SPOT) PT at $441.21

Shares of Spotify Technology S.A. (NYSE:SPOT) have been given an average recommendation of “Moderate Buy” by the twenty-eight research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $441.21.

Several analysts have recently issued reports on the company. UBS Group upped their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Morgan Stanley lifted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Rosenblatt Securities upped their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. KeyCorp lifted their target price on shares of Spotify Technology from $520.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Finally, Barclays upped their price target on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th.

Spotify Technology Stock Performance

Shares of SPOT opened at $511.19 on Monday. The firm has a market cap of $101.75 billion, a PE ratio of 138.91 and a beta of 1.62. The firm’s 50 day moving average price is $472.68 and its 200 day moving average price is $394.29. Spotify Technology has a twelve month low of $210.34 and a twelve month high of $512.01.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. On average, sell-side analysts anticipate that Spotify Technology will post 5.91 earnings per share for the current fiscal year.

Institutional Trading of Spotify Technology

A number of large investors have recently bought and sold shares of SPOT. Prestige Wealth Management Group LLC bought a new position in shares of Spotify Technology during the third quarter valued at $26,000. Benjamin Edwards Inc. boosted its position in Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Spotify Technology during the third quarter worth about $33,000. Larson Financial Group LLC increased its holdings in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in shares of Spotify Technology in the third quarter valued at approximately $40,000. 84.09% of the stock is currently owned by institutional investors.

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.