Pivotal Research Reiterates Buy Rating for Spotify Technology (SPOT)
Pivotal Research reiterated their buy rating on shares of Spotify Technology (NYSE:SPOT) in a research report released on Monday, Stock Target Advisor reports. They currently have a $165.00 price objective on the stock.
Shares of SPOT opened at $136.50 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.83 and a quick ratio of 1.05. Spotify Technology has a 52-week low of $103.29 and a 52-week high of $198.99. The company has a market capitalization of $24.18 billion and a P/E ratio of -227.50.
Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Monday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.53). Spotify Technology had a negative net margin of 1.08% and a positive return on equity of 13.72%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. Equities analysts forecast that Spotify Technology will post -1.21 EPS for the current year.
Spotify Technology SA, together with its subsidiaries, provides music streaming services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers commercial-free music services to subscribers comprising unlimited online and offline high-quality streaming access to its catalog.
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