Spotify Technology S.A. (NYSE:SPOT – Get Free Report)’s share price hit a new 52-week high on Tuesday after Pivotal Research raised their price target on the stock from $390.00 to $400.00. Pivotal Research currently has a buy rating on the stock. Spotify Technology traded as high as $314.80 and last traded at $306.54, with a volume of 2988845 shares changing hands. The stock had previously closed at $272.24.
Several other analysts also recently weighed in on SPOT. Benchmark lifted their target price on Spotify Technology from $290.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. TheStreet raised Spotify Technology from a “d+” rating to a “c-” rating in a research note on Friday, February 9th. Bank of America lifted their target price on Spotify Technology from $265.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Raymond James lifted their target price on Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Macquarie boosted their price objective on Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $276.58.
View Our Latest Report on SPOT
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Spotify Technology Price Performance
The firm has a market cap of $60.19 billion, a PE ratio of -102.53 and a beta of 1.63. The business has a fifty day moving average price of $269.00 and a two-hundred day moving average price of $216.78.
Spotify Technology (NYSE:SPOT – Get Free Report) last issued its earnings results on Tuesday, February 6th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company posted ($1.43) earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Spotify Technology S.A. will post 3.5 EPS for the current fiscal 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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