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

Spotify Technology S.A. (NYSE:SPOT) has been assigned an average rating of “Moderate Buy” from the twenty brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $166.00.

SPOT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Wednesday, July 26th. Loop Capital raised their price target on Spotify Technology from $130.00 to $140.00 in a research report on Wednesday, July 26th. Morgan Stanley reiterated an “overweight” rating and set a $185.00 target price on shares of Spotify Technology in a research report on Monday, July 31st. Rosenblatt Securities lifted their target price on Spotify Technology from $141.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Finally, KeyCorp lifted their target price on Spotify Technology from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 14th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SPOT. Ameritas Advisory Services LLC purchased a new stake in shares of Spotify Technology in the first quarter valued at approximately $27,000. Activest Wealth Management purchased a new stake in shares of Spotify Technology during the second quarter worth approximately $28,000. Spire Wealth Management increased its position in shares of Spotify Technology by 148.4% during the first quarter. Spire Wealth Management now owns 236 shares of the company’s stock worth $32,000 after purchasing an additional 141 shares in the last quarter. Quarry LP purchased a new stake in shares of Spotify Technology during the second quarter worth approximately $35,000. Finally, Machina Capital S.A.S. purchased a new stake in shares of Spotify Technology during the first quarter worth approximately $38,000. 56.89% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of SPOT opened at $160.10 on Friday. Spotify Technology has a 1 year low of $69.29 and a 1 year high of $182.00. The company has a 50 day simple moving average of $151.50 and a two-hundred day simple moving average of $142.97. The firm has a market cap of $31.17 billion, a P/E ratio of -29.93 and a beta of 1.73.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 25th. The company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.89). The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Spotify Technology had a negative net margin of 7.79% and a negative return on equity of 42.48%. On average, sell-side analysts anticipate that Spotify Technology will post -3.13 earnings per share for the current year.

Spotify Technology Company Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming 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.