Analysts Set Spotify Technology S.A. (NYSE:SPOT) PT at $265.24

Shares of Spotify Technology S.A. (NYSE:SPOT) have earned an average rating of “Moderate Buy” from the twenty-seven brokerages that are presently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $301.81.

A number of brokerages have issued reports on SPOT. Bank of America raised their target price on Spotify Technology from $315.00 to $370.00 and gave the stock a “buy” rating in a research note on Wednesday. DZ Bank raised Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 target price for the company in a research note on Wednesday, February 7th. Benchmark raised their target price on Spotify Technology from $325.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James raised their target price on Spotify Technology from $260.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Spotify Technology from $260.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th.

Spotify Technology Stock Performance

NYSE SPOT opened at $289.68 on Friday. The business has a fifty day moving average price of $271.48 and a 200 day moving average price of $218.66. Spotify Technology has a one year low of $128.67 and a one year high of $319.30. The company has a market cap of $57.45 billion, a P/E ratio of -432.35 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the company earned ($1.24) EPS. As a group, sell-side analysts predict that Spotify Technology will post 3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Spotify Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Yousif Capital Management LLC boosted its holdings in Spotify Technology by 4.4% during the 1st quarter. Yousif Capital Management LLC now owns 4,762 shares of the company’s stock valued at $1,257,000 after acquiring an additional 201 shares during the period. MONECO Advisors LLC boosted its holdings in Spotify Technology by 0.7% during the 1st quarter. MONECO Advisors LLC now owns 13,234 shares of the company’s stock valued at $3,492,000 after acquiring an additional 93 shares during the period. Lindbrook Capital LLC boosted its holdings in Spotify Technology by 35.6% during the 1st quarter. Lindbrook Capital LLC now owns 278 shares of the company’s stock valued at $73,000 after acquiring an additional 73 shares during the period. Valeo Financial Advisors LLC purchased a new position in Spotify Technology during the 1st quarter valued at about $237,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Spotify Technology by 168.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,456 shares of the company’s stock valued at $2,495,000 after buying an additional 5,937 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

About Spotify Technology

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.