Shares of Spotify Technology S.A. (NYSE:SPOT – Get Free Report) have been assigned an average rating of “Moderate Buy” from the twenty-nine ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $360.86.
A number of analysts have recently issued reports on the stock. Pivotal Research boosted their target price on shares of Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Redburn Atlantic restated a “sell” rating and issued a $230.00 target price on shares of Spotify Technology in a research note on Wednesday, July 10th. Guggenheim raised their target price on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. KeyCorp boosted their price target on Spotify Technology from $440.00 to $490.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a report on Monday, October 7th.
Check Out Our Latest Stock Analysis on SPOT
Institutional Trading of Spotify Technology
Spotify Technology Stock Performance
Spotify Technology stock opened at $371.67 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $70.69 billion, a P/E ratio of -554.73 and a beta of 1.58. Spotify Technology has a 1-year low of $145.76 and a 1-year high of $389.23. The company’s 50-day moving average is $351.22 and its 200 day moving average is $321.62.
Spotify Technology (NYSE:SPOT – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the business posted ($1.69) earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. Research analysts forecast that Spotify Technology will post 6.24 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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