[ad_1]
Spotify technology (NYSE:SPOT – rated) In a memo issued to investors on Friday, the target price was raised from $120.00 to $143.00 by Bank of America research analysts, Fry reports. Bank of America’s target price shows he could rise 15.39% from the company’s previous closing price.
→ 5 Dividend Stocks You Can Buy Now (Free Content) (From Oxford Club)
Many other analysts have also put a lot of weight on stocks these days. Redburn Partners upgraded Spotify Technology’s stock from a “neutral” rating to a “buy” rating and set a price target of $140.00 in its Wednesday, March 1 report. Morgan Stanley raised its price target on Spotify technology stock from her $105.00 to her $130.00 in her Wednesday, Feb. 1 research notes, giving the company an “overweight” rating. Wells Fargo & Company upgraded Spotify Technology from an “equal-weighted” rating to an “overweight” rating in his Monday, Feb. 6 research report, and he raised its price target from $121.00 to $180.00. UBS Group lowered its price target for Spotify technology from $142.00 to $100.00 in a report on Thursday, January 5. Finally, Deutsche Bank Aktiengesellschaft raised its target price for Spotify Technology from $100.00 to $105.00 in his Monday, January 30 research report. Eight analysts rated the stock as Hold and 13 gave the company’s stock a Buy rating. Based on MarketBeat.com data, the company’s current consensus rating is “moderate buy” with an average price target of $131.77.
Spotify tech shares drop 2.4%
NYSE:SPOT shares opened Friday at $123.93. The company has a 50-day moving average of $108.52 and a 200-day moving average of $94.70. The company has a market cap of $23.95 billion, a price/earnings ratio of -40.11, and a beta of 1.75. His 52-week low for Spotify technology is $69.29 and his 52-week high is $160.06.
Spotify Technology (NYSE:SPOT – Get Rating) last reported quarterly results on Tuesday, January 31. The company reported ($1.43) EPS for the quarter, but missed the consensus estimate ($1.28) of ($0.15). Spotify Technology’s return on equity was 17.78% and net profit margin was 3.48%. The company’s revenue for the quarter was $3.23 billion, compared to consensus expectations of $3.26 billion. On average, sell-side analysts expect Spotify Technology to see his EPS of minus 2.15 this year.
institution inflow and outflow
Institutional investors are buying and selling stocks these days. Rockefeller Capital Management LP increased his stake in Spotify Technology by 1.6% in the fourth quarter. Rockefeller Capital Management LP now owns 39,082 shares worth $3,084,000 after purchasing an additional 623 of his shares last quarter. Voya Investment Management LLC increased its Spotify technology holdings by 9.4% in the fourth quarter. Voya Investment Management LLC now owns 69,843 shares of the company worth $5,514,000 after he purchased an additional 5,973 shares last quarter. Northwestern Mutual Wealth Management Co. increased its Spotify technology holdings by 18.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 12,615 shares worth $996,000 after purchasing an additional 1,969 shares last quarter. WealthPLAN Partners LLC acquired a new stake in Spotify Technology worth approximately $297,000 in the fourth quarter. Finally, Alliancebernstein LP increased its stake in Spotify Technology by 70.7% in the fourth quarter. Alliancebernstein LP owns 100,758 shares of the company worth $7,955,000 after acquiring an additional 41,719 shares in the previous quarter. 52.80% of the shares are currently owned by hedge funds and other institutional investors.
About Spotify Technology
(get rating)
Spotify Technology SA is a digital music service that gives music fans instant access to the world of music. It operates through its Premium and Ad-supported segments. The premium segment offers subscribers unlimited online and offline high-quality streaming access to music and podcasts on computers, tablets and mobile devices.
read more
This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to contact@marketbeat.com.
Listen to this before you even consider Spotify technology.
MarketBeat tracks Wall Street’s most acclaimed and top performing research analysts and the stocks they recommend to clients every day. MarketBeat has identified five stocks top analysts are quietly whispering to clients to buy now before the broader market catches on…and Spotify technology wasn’t on the list. .
Spotify Technology currently has a “moderate buy” rating among analysts, but top-rated analysts believe these five stocks are better buys.
See 5 stocks here
[ad_2]
Source link
