Spotify Technology S.A. (NYSE:SPOT) Receives $441.21 Consensus Target Price from Analysts

Spotify Technology S.A. (NYSE:SPOT - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-eight analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $441.21.

A number of equities analysts recently issued reports on SPOT shares. Pivotal Research upped their price target on Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. KeyCorp boosted their price objective on shares of Spotify Technology from $520.00 to $555.00 and gave the stock an "overweight" rating in a research report on Friday, January 10th. Wolfe Research reaffirmed a "peer perform" rating on shares of Spotify Technology in a research report on Friday. TD Cowen boosted their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a "hold" rating in a research report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th.

Spotify Technology Price Performance

Shares of SPOT traded down $4.27 during midday trading on Monday, reaching $486.07. The stock had a trading volume of 2,021,276 shares, compared to its average volume of 1,296,667. The company's fifty day simple moving average is $468.82 and its two-hundred day simple moving average is $390.44. The company has a market cap of $96.75 billion, a price-to-earnings ratio of 132.08 and a beta of 1.62. Spotify Technology has a 1-year low of $200.81 and a 1-year high of $506.47.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted 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 prior year, the business earned $0.36 earnings per share. On average, sell-side analysts forecast that Spotify Technology will post 5.96 earnings per share for the current year.

Institutional Trading of Spotify Technology

Several hedge funds have recently modified their holdings of the business. WCM Investment Management LLC lifted its stake in shares of Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company's stock valued at $1,430,142,000 after purchasing an additional 605,755 shares during the period. International Assets Investment Management LLC increased its holdings in Spotify Technology by 36,910.0% in the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company's stock valued at $128,073,000 after buying an additional 346,585 shares in the last quarter. FMR LLC lifted its position in shares of Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company's stock valued at $577,788,000 after acquiring an additional 297,035 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Spotify Technology by 3,948.3% during the 3rd quarter. Janus Henderson Group PLC now owns 264,233 shares of the company's stock worth $97,329,000 after acquiring an additional 257,706 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Spotify Technology by 179.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company's stock worth $140,120,000 after acquiring an additional 243,933 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

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.