Cantor Fitzgerald reissued their neutral rating on shares of Spotify Technology (NYSE:SPOT – Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. Cantor Fitzgerald currently has a $480.00 price target on the stock, down from their previous price target of $490.00.
SPOT has been the topic of a number of other reports. TD Cowen lifted their price target on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Macquarie lifted their price target on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Phillip Securities reiterated an “accumulate” rating and set a $485.00 price target (up from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Pivotal Research lifted their price target on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group lifted their price target on Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $449.79.
Check Out Our Latest Stock Report on Spotify Technology
Spotify Technology Stock Up 2.2 %
Spotify Technology (NYSE:SPOT – Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. On average, equities research analysts anticipate that Spotify Technology will post 5.91 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Spotify Technology
A number of institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its stake in Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after acquiring an additional 26 shares during the last quarter. West Bancorporation Inc. increased its stake in Spotify Technology by 3.4% in the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after acquiring an additional 27 shares during the last quarter. Joel Isaacson & Co. LLC boosted its holdings in shares of Spotify Technology by 1.9% in the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock worth $697,000 after purchasing an additional 29 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Spotify Technology by 12.0% in the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares in the last quarter. Finally, Park National Corp OH boosted its holdings in shares of Spotify Technology by 4.1% in the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock worth $355,000 after purchasing an additional 31 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.
About Spotify Technology
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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