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Spotify technology (NYSE:SPOT – rated) The Fly was upgraded from a “neutral” rating to a “buy” rating by Guggenheim equity analysts in a report published Wednesday.
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Other equity analysts have also recently published reports on the company. Benchmark raised its price target on Spotify Technology from his $125.00 to $130.00, giving the stock a “Buy” rating in its research report on Monday, Jan. 30. UBS Group lowered its target price for Spotify technology from $142.00 to $100.00 in a research report on Thursday, January 5. Raymond James raised his price target for Spotify Technology from $110.00 to $130.00, marking the stock “outperform” in a research report on Wednesday, February 1. Bank of America increased its target price for Spotify Technology from $120.00 to $143.00 in a research report on Friday, March 10. Finally, Pivotal Research raised its price target for the Spotify technology from $100.00 to $130.00 in a report on Wednesday, February 1, giving the stock a “hold” rating. Seven Research his analysts rated the stock with a hold rating, and 14 assigned a buy him rating to the company’s shares. According to MarketBeat data, the stock has an average rating of “moderate buy” and an average target price of $131.77.
Spotify Technology Stock Performance
NYSE:SPOT opened Wednesday at $128.81. Spotify Technology has a 52-week low of $69.29 and a 52-week high of $160.06. The company has a market capitalization of $24.9 billion, a price/earnings ratio of -41.69, and a beta of 1.75. The business has a 50-day moving average of $115.43 and a 200-day moving average of $95.49.
Spotify Technology (NYSE:SPOT – Get Rating) last released its quarterly earnings data on Tuesday, January 31. The company reported his earnings per share (EPS) for the quarter ($1.43), missing analyst consensus expectations ($1.28) ($0.15). Spotify Technology had a net profit margin of 3.48% and a return on equity of 17.78%. The company’s revenue for the quarter was $3.23 billion, compared to consensus expectations of $3.26 billion. Equity analysts expect Spotify Technology to post -2.15 EPS for the current financial year.
Institutional investors consider Spotify technology
Several institutional investors have recently bought and sold shares of SPOT. Baillie Gifford & Co. increased its position in Spotify technology by 6.7% in the third quarter. Baillie Gifford & Co. now owns 27,964,517 shares of the company worth $2,413,338,000 after he purchased an additional 1,764,880 shares during the previous quarter. Norges Bank purchased a new position in Spotify Technology worth approximately $123,027,000 in the fourth quarter. Alecta Tjanstepension Omsesidigt increased his position in Spotify technology by 29.3% in Q4. Alecta Tjanstepension Omsesidigt now owns 3,925,600 shares of the company worth $39848,000 after purchasing an additional 890,000 shares during the previous quarter. BlackRock Inc. increased its position in Spotify technology by 20.2% in the third quarter. BlackRock Inc. now owns 4,214,562 shares worth $363,717,000 after purchasing an additional 707,653 shares during the previous quarter. Finally, Point72 Asset Management LP increased its position in Spotify technology by 1,069.2% in the fourth quarter. Point72 Asset Management LP now owns 630,004 shares of the company, valued at $49,739,000, after purchasing an additional 695,004 shares during the previous quarter. 52.80% of the shares are currently owned by hedge funds and other institutional investors.
Spotify Technology Company Profile
(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.
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