Brokerages Set Spotify Technology S.A. (NYSE:SPOT) Target Price at $359.14

Shares of Spotify Technology S.A. (NYSE:SPOT) have earned an average rating of “Moderate Buy” from the twenty-nine analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $359.14.

Several brokerages recently issued reports on SPOT. Evercore ISI upped their target price on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Rosenblatt Securities lifted their price target on Spotify Technology from $396.00 to $399.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Redburn Atlantic reissued a “sell” rating and issued a $230.00 price objective on shares of Spotify Technology in a report on Wednesday, July 10th. Morgan Stanley upped their target price on Spotify Technology from $370.00 to $400.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th.

Spotify Technology Trading Down 0.3 %

Shares of SPOT opened at $372.44 on Friday. Spotify Technology has a 1 year low of $145.76 and a 1 year high of $389.23. The company has a 50 day simple moving average of $349.34 and a two-hundred day simple moving average of $320.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $74.13 billion, a P/E ratio of 152.02 and a beta of 1.58.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.69) EPS. On average, equities analysts expect that Spotify Technology will post 6.24 earnings per share for the current fiscal year.

Institutional Trading of Spotify Technology

Institutional investors have recently bought and sold shares of the business. Clearbridge Investments LLC boosted its holdings in shares of Spotify Technology by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock valued at $1,819,000 after buying an additional 38 shares in the last quarter. Cigna Investments Inc. New grew its holdings in shares of Spotify Technology by 3.3% during the second quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock worth $395,000 after purchasing an additional 40 shares during the last quarter. Moody Lynn & Lieberson LLC increased its position in shares of Spotify Technology by 0.6% during the second quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock worth $2,147,000 after purchasing an additional 40 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Spotify Technology by 4.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 981 shares of the company’s stock valued at $337,000 after purchasing an additional 43 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

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.