Research Analysts’ Recent Ratings Changes for Spotify Technology (SPOT)

Several analysts have recently updated their ratings and price targets for Spotify Technology (NYSE: SPOT):

• 9/30/2024 – Spotify Technology had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $340.00 price target on the stock.
• 9/23/2024 – Spotify Technology had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $340.00 price target on the stock.
• 9/19/2024 – Spotify Technology had its price target raised by analysts at Pivotal Research from $460.00 to $510.00. They now have a “buy” rating on the stock.
• 9/16/2024 – Spotify Technology had its price target raised by analysts at KeyCorp from $420.00 to $440.00. They now have an “overweight” rating on the stock.
• 9/5/2024 – Spotify Technology is now covered by analysts at Cantor Fitzgerald. They set a “neutral” rating and a $340.00 price target on the stock.
• 8/29/2024 – Spotify Technology had its price target raised by analysts at Evercore ISI from $420.00 to $460.00. They now have an “outperform” rating on the stock.

Spotify Technology Stock Down 0.1 %

Shares of SPOT traded down $0.53 during trading hours on Wednesday, reaching $374.87. 1,504,476 shares of the stock traded hands, compared to its average volume of 1,905,782. The stock has a fifty day simple moving average of $341.86 and a 200 day simple moving average of $313.40. Spotify Technology S.A. has a 52 week low of $145.76 and a 52 week high of $389.23. The company has a market cap of $74.62 billion, a price-to-earnings ratio of -559.50 and a beta of 1.57. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.08 by $0.25. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the company posted ($1.69) EPS. On average, equities analysts forecast that Spotify Technology S.A. will post 6.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SPOT. Larson Financial Group LLC lifted its position in shares of Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after buying an additional 43 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Spotify Technology during the 2nd quarter valued at approximately $25,000. Benjamin Edwards Inc. lifted its position in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Mather Group LLC. lifted its position in shares of Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after buying an additional 99 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its holdings in Spotify Technology by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

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.