Brokerages Set Spotify Technology S.A. (NYSE:SPOT) PT at $441.21

Shares of Spotify Technology S.A. (NYSE:SPOT) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $441.21.

Several research firms have recently commented on SPOT. Bank of America lifted their target price on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Rosenblatt Securities boosted their price objective on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. The Goldman Sachs Group boosted their price target on shares of Spotify Technology from $490.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Barclays raised their price objective on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th.

Spotify Technology Stock Up 1.9 %

Shares of NYSE:SPOT opened at $511.19 on Monday. The firm has a market cap of $101.75 billion, a P/E ratio of 138.91 and a beta of 1.62. Spotify Technology has a 12 month low of $210.34 and a 12 month high of $512.01. The company’s 50-day moving average price is $472.68 and its two-hundred day moving average price is $394.29.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the company earned $0.36 earnings per share. Spotify Technology’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, equities analysts predict that Spotify Technology will post 5.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spotify Technology

Large investors have recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the third quarter worth about $26,000. Benjamin Edwards Inc. lifted its stake 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 acquired a new position in Spotify Technology during the 3rd quarter worth approximately $33,000. Larson Financial Group LLC boosted its position in 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 acquiring an additional 33 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in shares of Spotify Technology during the 3rd quarter worth approximately $40,000. Institutional investors own 84.09% of the company’s stock.

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.