Zacks: Spotify Technology SA (SPOT) Receives Average Rating of “Buy” from Brokerages

Shares of Spotify Technology SA (NYSE:SPOT) have been given a consensus broker rating score of 1.76 (Buy) from the nineteen brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation, five have assigned a hold recommendation, one has given a buy recommendation and twelve have assigned a strong buy recommendation to the company. Spotify Technology’s rating score has declined by 4.1% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Analysts have set a 12 month consensus price objective of $186.65 for the company and are forecasting that the company will post ($0.56) EPS for the current quarter, according to Zacks. Zacks has also given Spotify Technology an industry rank of 159 out of 256 based on the ratings given to related companies.

A number of research analysts have issued reports on SPOT shares. UBS Group lifted their price objective on Spotify Technology from $180.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Goldman Sachs Group reissued a “buy” rating and set a $170.00 price objective on shares of Spotify Technology in a report on Tuesday, April 30th. Finally, Pivotal Research reissued a “buy” rating and set a $165.00 price objective on shares of Spotify Technology in a report on Monday, April 29th.

Shares of NYSE SPOT traded up $1.65 during midday trading on Wednesday, reaching $137.71. 847,400 shares of the company traded hands, compared to its average volume of 1,700,611. The stock has a market cap of $24.25 billion and a PE ratio of -229.65. Spotify Technology has a 12 month low of $103.29 and a 12 month high of $198.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.83 and a current ratio of 0.83.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Monday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.53). The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. Spotify Technology had a negative net margin of 1.08% and a positive return on equity of 13.72%. Analysts predict that Spotify Technology will post -1.64 earnings per share for the current year.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides music streaming services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers commercial-free music services to subscribers comprising unlimited online and offline high-quality streaming access to its catalog.

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