11 hours Ago By ABMN Staff
Spotify Technology ( NYSE:SPOT – Get Free Report ) had its price target boosted by research analysts at Canaccord Genuity Group from $525.00 to $560.00 in a note issued to investors on Monday, Benzinga reports.
The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 13.52% from the stock’s current price.
A number of other research analysts also recently commented on SPOT. KeyCorp increased their target price on shares of Spotify Technology from $490.00 to $520.
00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Evercore ISI lifted their target price on Spotify Technology from $420.00 to $460.
00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Morgan Stanley upped their target price on Spotify Technology from $430.00 to $460.
00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Rosenblatt Securities lifted their price target on Spotify Technology from $399.00 to $438.
00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $340.00 price objective on shares of Spotify Technology in a research note on Monday, October 7th.
One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $422.90.
Check Out Our Latest Research Report on Spotify Technology Spotify Technology Stock Performance Spotify Technology ( NYSE:SPOT – Get Free Report ) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.
75 by ($0.30). Spotify Technology had a net margin of 4.
66% and a return on equity of 19.07%. The business had revenue of $3.
99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the company earned $0.
36 earnings per share. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year.
On average, equities research analysts predict that Spotify Technology will post 6.02 EPS for the current year. Institutional Investors Weigh In On Spotify Technology Large investors have recently added to or reduced their stakes in the business.
First Horizon Advisors Inc. raised its position in shares of Spotify Technology by 5.8% in the third quarter.
First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after buying an additional 26 shares during the last quarter. West Bancorporation Inc.
grew its stake in Spotify Technology by 3.4% in the 3rd quarter. West Bancorporation Inc.
now owns 827 shares of the company’s stock worth $305,000 after acquiring an additional 27 shares during the period. Avior Wealth Management LLC raised its holdings in Spotify Technology by 12.0% in the 3rd quarter.
Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after acquiring an additional 30 shares during the last quarter. Washington Trust Advisors Inc. lifted its stake in shares of Spotify Technology by 12.
0% during the 3rd quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after purchasing an additional 32 shares during the period.
Finally, Rakuten Securities Inc. boosted its holdings in shares of Spotify Technology by 40.5% during the third quarter.
Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after purchasing an additional 32 shares during the last quarter. 84.
09% of the stock is owned by institutional investors and hedge funds. About Spotify Technology ( Get Free Report ) 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. See Also Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter .
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