Spotify Technology SA (SPOT) Given $190.14 Consensus Target Price by Brokerages

Shares of Spotify Technology SA (NYSE:SPOT) have been assigned a consensus broker rating score of 1.76 (Buy) from the nineteen analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell recommendation, five have issued a hold recommendation, one has issued 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.

Brokerages have set a 12 month consensus target price of $190.14 for the company and are expecting 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 90 out of 256 based on the ratings given to its competitors.

Several research firms have recently commented on SPOT. Pivotal Research restated a “buy” rating and set a $165.00 price target on shares of Spotify Technology in a research note on Monday, April 29th. Goldman Sachs Group reiterated a “buy” rating and issued a $170.00 price objective on shares of Spotify Technology in a research report on Tuesday, April 30th. Finally, UBS Group raised their price target on Spotify Technology from $180.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th.

Shares of SPOT stock traded up $0.09 during trading hours on Friday, reaching $132.85. 15,540 shares of the stock were exchanged, compared to its average volume of 1,608,190. 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 has a 12-month low of $103.29 and a 12-month high of $198.99. The firm has a market capitalization of $23.65 billion and a price-to-earnings ratio of -221.27.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Monday, April 29th. The company reported ($0.90) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.53). The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. Spotify Technology had a negative net margin of 1.08% and a positive return on equity of 13.72%. Equities analysts forecast that Spotify Technology will post -2.17 EPS for the current fiscal year.

Spotify Technology Company Profile

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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