Spotify Technology (NYSE:SPOT - Get Free Report)'s stock had its "peer perform" rating reissued by equities researchers at Wolfe Research in a report issued on Friday, Marketbeat reports.
A number of other research firms have also commented on SPOT. Barclays increased their price target on Spotify Technology from $385.00 to $475.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Piper Sandler increased their target price on Spotify Technology from $330.00 to $450.00 and gave the stock a "neutral" 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 company an "outperform" rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their price objective on shares of Spotify Technology from $470.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Finally, Rosenblatt Securities upped their target price on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $441.21.
Check Out Our Latest Report on SPOT
Spotify Technology Stock Down 0.9 %
NYSE:SPOT traded down $4.19 during trading hours on Friday, reaching $486.15. The company had a trading volume of 1,211,884 shares, compared to its average volume of 1,592,402. The stock has a 50-day moving average of $465.30 and a two-hundred day moving average of $387.49. Spotify Technology has a one year low of $200.81 and a one year high of $506.47. The firm has a market capitalization of $96.77 billion, a PE ratio of 132.07 and a beta of 1.62.
Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.30). The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company's revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. As a group, sell-side analysts expect that Spotify Technology will post 5.96 earnings per share for the current year.
Institutional Trading of Spotify Technology
A number of institutional investors have recently bought and sold shares of SPOT. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology in the third quarter valued at approximately $26,000. Benjamin Edwards Inc. raised its holdings in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology during the 3rd quarter valued at $33,000. Larson Financial Group LLC grew its holdings in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after purchasing an additional 33 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in shares of Spotify Technology in the third quarter worth $40,000. Institutional investors own 84.09% of the company's stock.
About Spotify Technology
(
Get Free Report)
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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