Spotify Technology S.A. (NYSE:SPOT - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $516.58 and last traded at $513.54, with a volume of 2442902 shares trading hands. The stock had previously closed at $510.43.
Wall Street Analyst Weigh In
A number of research firms have weighed in on SPOT. UBS Group upped their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Canaccord Genuity Group increased their target price on shares of Spotify Technology from $525.00 to $560.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. KeyCorp lifted their price target on shares of Spotify Technology from $520.00 to $555.00 and gave the company an "overweight" rating in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, Piper Sandler lifted their target price on Spotify Technology from $330.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and an average price target of $446.21.
Check Out Our Latest Report on SPOT
Spotify Technology Stock Up 3.4 %
The firm has a market capitalization of $105.82 billion, a price-to-earnings ratio of 144.47 and a beta of 1.62. The company's 50 day moving average is $474.92 and its 200 day moving average is $398.39.
Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly 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 business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm's quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, analysts expect that Spotify Technology S.A. will post 5.91 EPS for the current year.
Institutional Investors Weigh In On Spotify Technology
Institutional investors and hedge funds have recently bought and sold shares of the company. Coronation Fund Managers Ltd. increased its stake in shares of Spotify Technology by 8.5% in the 4th quarter. Coronation Fund Managers Ltd. now owns 94,072 shares of the company's stock valued at $42,086,000 after purchasing an additional 7,350 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in Spotify Technology by 18.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,062 shares of the company's stock valued at $475,000 after buying an additional 162 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of Spotify Technology by 30.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 1,412 shares of the company's stock valued at $632,000 after purchasing an additional 332 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Spotify Technology by 1.2% during the fourth quarter. Stephens Inc. AR now owns 3,736 shares of the company's stock worth $1,671,000 after buying an additional 45 shares during the last quarter. Finally, Northeast Investment Management increased its holdings in shares of Spotify Technology by 27.1% during the fourth quarter. Northeast Investment Management now owns 16,517 shares of the company's stock worth $7,389,000 after buying an additional 3,526 shares in the last quarter. 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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