Spotify Technology (NYSE:SPOT – Get Rating) issued its quarterly earnings data on Wednesday. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.40, Briefing.com reports. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.61 billion. Spotify Technology had a negative return on equity of 1.27% and a negative net margin of 0.34%. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.30) earnings per share.
Spotify Technology stock traded up $4.13 during mid-day trading on Friday, hitting $106.81. The company’s stock had a trading volume of 6,936 shares, compared to its average volume of 2,460,862. The stock has a market capitalization of $20.32 billion, a P/E ratio of -82.14 and a beta of 1.67. Spotify Technology has a twelve month low of $95.22 and a twelve month high of $305.60. The stock’s fifty day moving average price is $138.15 and its two-hundred day moving average price is $198.66.
Several equities analysts have issued reports on SPOT shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Spotify Technology from $140.00 to $115.00 in a report on Thursday. Truist Financial lowered their price target on Spotify Technology from $210.00 to $150.00 in a report on Thursday. Credit Suisse Group lowered their price target on Spotify Technology from $270.00 to $238.00 and set a “neutral” rating on the stock in a report on Thursday, February 3rd. Wolfe Research lowered their price target on Spotify Technology from $260.00 to $220.00 and set a “peer perform” rating on the stock in a report on Thursday, February 3rd. Finally, Jefferies Financial Group lowered their price target on Spotify Technology from $358.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, February 3rd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of “Hold” and an average target price of $214.31.
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.
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