Spotify Technology S.A. (NYSE:SPOT) Given Average Recommendation of “Hold” by Analysts


Shares of Spotify Technology S.A. (NYSE:SPOT) have been given a consensus recommendation of “Hold” by the twenty-eight analysts that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $302.36.

SPOT has been the topic of a number of research analyst reports. Redburn Partners reaffirmed a “sell” rating and set a $170.00 price target on shares of Spotify Technology in a research report on Monday, July 26th. cut their price target on Spotify Technology from $310.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday, June 8th. Citigroup cut their price target on Spotify Technology from $310.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday, June 8th. Truist dropped their price objective on shares of Spotify Technology from $290.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, July 29th. Finally, Credit Suisse Group dropped their price objective on shares of Spotify Technology from $315.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, July 29th.


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SPOT opened at $247.76 on Monday. Spotify Technology has a fifty-two week low of $201.68 and a fifty-two week high of $387.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $44.41 billion, a price-to-earnings ratio of -123.88 and a beta of 1.51. The company’s 50 day moving average price is $235.35 and its two-hundred day moving average price is $251.97.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Wednesday, July 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.33. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.75 billion. Spotify Technology had a negative return on equity of 7.95% and a negative net margin of 2.56%. As a group, equities research analysts predict that Spotify Technology will post -1.09 EPS for the current year.


Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its holdings in Spotify Technology by 1.1% during the 1st quarter. Baillie Gifford & Co. now owns 21,028,506 shares of the company’s stock valued at $5,634,588,000 after acquiring an additional 232,536 shares during the period. Morgan Stanley raised its holdings in Spotify Technology by 3.2% during the 2nd quarter. Morgan Stanley now owns 19,265,688 shares of the company’s stock valued at $5,309,432,000 after acquiring an additional 589,486 shares during the period. ARK Investment Management LLC grew its holdings in Spotify Technology by 23.1% during the 2nd quarter. ARK Investment Management LLC now owns 4,792,008 shares of the company’s stock valued at $1,320,629,000 after buying an additional 900,683 shares in the last quarter. BlackRock Inc. grew its holdings in Spotify Technology by 7.9% during the 2nd quarter. BlackRock Inc. now owns 3,677,746 shares of the company’s stock valued at $1,013,552,000 after buying an additional 269,718 shares in the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt grew its holdings in Spotify Technology by 9.2% during the 2nd quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,385,600 shares of the company’s stock valued at $657,448,000 after buying an additional 200,000 shares in the last quarter. 54.00% of the stock is currently owned by institutional investors and hedge funds.


About Spotify Technology

Spotify Technology SA is a digital music service offering music fans instant access to a world of music. The company operates through the following segments: Premium and Ad-Supported. The Premium segment provides subscribers with unlimited online and offline high-quality streaming access of music and podcasts on computers, tablets, and mobile devices, users can connect through speakers, receivers, televisions, cars, game consoles, and smart watches.

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Analyst Recommendations for Spotify Technology (NYSE:<b><a href=SPOT)' width='600' height='385' />

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