Spotify Technology (NYSE:SPOT) Rating Reiterated by Cantor Fitzgerald

Spotify Technology (NYSE:SPOTGet Free Report)‘s stock had its “neutral” rating reiterated by stock analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $340.00 price objective on the stock. Cantor Fitzgerald’s target price indicates a potential downside of 8.21% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Barclays raised their target price on Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Rosenblatt Securities raised their price objective on shares of Spotify Technology from $396.00 to $399.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. The Goldman Sachs Group raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and upped their target price for the company from $320.00 to $425.00 in a report on Wednesday, July 24th. DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research note on Wednesday, July 24th. Finally, UBS Group boosted their price objective on shares of Spotify Technology from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $359.14.

Get Our Latest Research Report on SPOT

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $370.43 on Monday. The firm’s 50-day moving average price is $345.28 and its 200-day moving average price is $316.59. Spotify Technology has a 52-week low of $145.76 and a 52-week high of $389.23. The company has a market cap of $70.46 billion, a PE ratio of -552.88 and a beta of 1.58. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31.

Spotify Technology (NYSE:SPOTGet Free Report) last posted its earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.69) EPS. As a group, analysts anticipate that Spotify Technology will post 6.24 EPS for the current year.

Institutional Investors Weigh In On Spotify Technology

Large investors have recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in Spotify Technology during the 2nd quarter valued at approximately $25,000. Benjamin Edwards Inc. boosted its position in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Mather Group LLC. increased its position in Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares during the last quarter. Finally, Asset Dedication LLC purchased a new stake in Spotify Technology during the second quarter valued at $35,000. 84.09% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for Spotify Technology (NYSE:SPOT)

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