Spotify Technology S.A. (NYSE:SPOT – Get Free Report) saw unusually large options trading on Friday. Stock investors bought 10,118 call options on the company. This is an increase of approximately 18% compared to the average daily volume of 8,598 call options.
Analysts Set New Price Targets
A number of analysts have commented on SPOT shares. Morgan Stanley lifted their price target on Spotify Technology from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday. VNET Group reissued a “maintains” rating on shares of Spotify Technology in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Spotify Technology from $115.00 to $130.00 in a report on Monday, April 24th. Wolfe Research raised Spotify Technology from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Wednesday, June 21st. Finally, Rosenblatt Securities boosted their price objective on Spotify Technology from $110.00 to $141.00 in a report on Tuesday, May 2nd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $155.64.
Institutional Investors Weigh In On Spotify Technology
A number of large investors have recently made changes to their positions in SPOT. Riverview Trust Co increased its stake in Spotify Technology by 162.6% during the fourth quarter. Riverview Trust Co now owns 344 shares of the company’s stock worth $27,000 after acquiring an additional 213 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Spotify Technology during the first quarter worth $27,000. Spire Wealth Management increased its stake in Spotify Technology by 148.4% during the first quarter. Spire Wealth Management now owns 236 shares of the company’s stock worth $32,000 after acquiring an additional 141 shares during the last quarter. Machina Capital S.A.S. acquired a new stake in Spotify Technology during the first quarter worth $38,000. Finally, First Manhattan Co. boosted its position in shares of Spotify Technology by 65.8% during the first quarter. First Manhattan Co. now owns 252 shares of the company’s stock worth $38,000 after buying an additional 100 shares during the period. 55.46% of the stock is currently owned by hedge funds and other institutional investors.
Spotify Technology Trading Up 0.5 %
Spotify Technology (NYSE:SPOT – Get Free Report) last posted its quarterly earnings data on Tuesday, April 25th. The company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.23). The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Spotify Technology had a negative return on equity of 33.54% and a negative net margin of 6.49%. On average, research analysts forecast that Spotify Technology will post -3.02 earnings per share for the current year.
About Spotify Technology
Spotify Technology SA, together with its subsidiaries, provides audio streaming 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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