Spotify Technology S.A. (NYSE:SPOT – Get Rating) has been given a consensus recommendation of “Hold” by the twenty-nine research firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $235.31.
A number of equities analysts have recently weighed in on SPOT shares. TheStreet cut Spotify Technology from a “c-” rating to a “d+” rating in a report on Tuesday, March 15th. Zacks Investment Research cut Spotify Technology from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th. Wolfe Research lowered their target price on Spotify Technology from $260.00 to $220.00 and set a “peer perform” rating for the company in a report on Thursday, February 3rd. Bank of America lowered their target price on Spotify Technology from $352.00 to $262.00 and set a “buy” rating for the company in a report on Tuesday, February 8th. Finally, Citigroup upgraded Spotify Technology from a “neutral” rating to a “buy” rating and lowered their target price for the company from $275.00 to $240.00 in a report on Monday, January 31st.
NYSE SPOT opened at $112.14 on Tuesday. The stock has a market cap of $21.33 billion, a PE ratio of -89.71 and a beta of 1.67. Spotify Technology has a twelve month low of $107.21 and a twelve month high of $305.60. The stock has a fifty day simple moving average of $141.46 and a 200-day simple moving average of $200.91.
Several hedge funds and other institutional investors have recently modified their holdings of SPOT. Morgan Stanley raised its position in shares of Spotify Technology by 3.2% during the 2nd quarter. Morgan Stanley now owns 19,265,688 shares of the company’s stock worth $5,309,432,000 after acquiring an additional 589,486 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Spotify Technology by 13.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,268 shares of the company’s stock worth $2,764,000 after acquiring an additional 1,409 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Spotify Technology by 86.1% during the third quarter. Janney Montgomery Scott LLC now owns 4,996 shares of the company’s stock worth $1,126,000 after buying an additional 2,312 shares during the period. GWM Advisors LLC increased its position in Spotify Technology by 23.8% during the third quarter. GWM Advisors LLC now owns 1,265 shares of the company’s stock worth $285,000 after buying an additional 243 shares during the period. Finally, Nordea Investment Management AB increased its position in Spotify Technology by 100.0% during the third quarter. Nordea Investment Management AB now owns 8,344 shares of the company’s stock worth $1,834,000 after buying an additional 4,172 shares during the period. 56.36% of the stock is currently owned by institutional investors and hedge funds.
Spotify Technology Company Profile (Get Rating)
Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
- Get a free copy of the StockNews.com research report on Spotify Technology (SPOT)
- Hasbro Insider Bets Big On Stock Rebound
- The Coca-Cola Company Gets KO’d After Stunning Quarter
- Schwab Stock Can Be Caught Down Here
- Snap Up Some Snap-On On Post-Earnings Weakness
- Time to Buy any Dip in Prologis Stock
Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter.