Spotify Technology (NYSE:SPOT – Get Free Report) had its price target upped by analysts at Barclays from $182.00 to $186.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 17.43% from the stock’s current price.
SPOT has been the subject of a number of other research reports. KeyCorp boosted their price objective on shares of Spotify Technology from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday. Loop Capital upped their price target on shares of Spotify Technology from $130.00 to $140.00 in a research report on Wednesday, July 26th. Wells Fargo & Company upped their price target on shares of Spotify Technology from $180.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, July 14th. Redburn Atlantic lowered shares of Spotify Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $170.00 to $160.00 in a research report on Monday, October 9th. Finally, Benchmark dropped their price target on shares of Spotify Technology from $205.00 to $195.00 and set a “buy” rating for the company in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $168.32.
Get Our Latest Analysis on Spotify Technology
Spotify Technology Price Performance
Spotify Technology (NYSE:SPOT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.56. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.62 billion. Spotify Technology had a negative net margin of 5.70% and a negative return on equity of 31.93%. On average, analysts forecast that Spotify Technology will post -3.09 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC bought a new position in Spotify Technology during the 1st quarter valued at $27,000. Activest Wealth Management bought a new position in Spotify Technology during the 2nd quarter valued at $28,000. Spire Wealth Management boosted its stake in Spotify Technology by 148.4% during the 1st quarter. Spire Wealth Management now owns 236 shares of the company’s stock valued at $32,000 after acquiring an additional 141 shares during the last quarter. Quarry LP bought a new position in Spotify Technology during the 2nd quarter valued at $35,000. Finally, Machina Capital S.A.S. bought a new position in Spotify Technology during the 1st quarter valued at $38,000. 56.89% of the stock is currently owned by institutional investors.
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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