Spotify Technology (NYSE:SPOT) Receives "Neutral" Rating from Cantor Fitzgerald

Spotify Technology (NYSE:SPOT - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued on Tuesday,Benzinga reports. They presently have a $480.00 price target on the stock, down from their previous price target of $490.00. Cantor Fitzgerald's price target indicates a potential downside of 9.71% from the company's previous close.

A number of other analysts have also issued reports on the company. Canaccord Genuity Group lifted their target price on Spotify Technology from $525.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Pivotal Research lifted their price objective on Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. The Goldman Sachs Group increased their target price on Spotify Technology from $490.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Wolfe Research restated a "peer perform" rating on shares of Spotify Technology in a research note on Friday, January 17th. Finally, Rosenblatt Securities increased their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $446.21.

Spotify Technology Stock Performance

Spotify Technology stock traded up $17.66 during trading on Tuesday, reaching $531.64. 2,241,567 shares of the company's stock were exchanged, compared to its average volume of 1,747,588. Spotify Technology has a 52-week low of $213.31 and a 52-week high of $537.00. The firm has a market cap 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 two-hundred 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). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $4.03 billion. During the same quarter in the prior year, the company earned $0.36 EPS. The firm's revenue was up 18.8% compared to the same quarter last year. Analysts anticipate that Spotify Technology will post 5.91 EPS for the current year.

Institutional Investors Weigh In On Spotify Technology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. raised its position in shares of Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company's stock worth $176,000 after purchasing an additional 26 shares during the period. West Bancorporation Inc. raised its holdings in Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company's stock worth $305,000 after buying an additional 27 shares during the period. Joel Isaacson & Co. LLC lifted its stake in Spotify Technology by 1.9% during the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company's stock valued at $697,000 after buying an additional 29 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Spotify Technology by 12.0% in the third quarter. Avior Wealth Management LLC now owns 281 shares of the company's stock worth $104,000 after acquiring an additional 30 shares in the last quarter. Finally, Park National Corp OH increased its position in shares of Spotify Technology by 4.1% in the fourth quarter. Park National Corp OH now owns 793 shares of the company's stock worth $355,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

About Spotify Technology

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.