Spotify Technology (NYSE:SPOT) Price Target Raised to $180.00

Spotify Technology (NYSE:SPOT) had its price target increased by Morgan Stanley from $170.00 to $180.00 in a research report sent to investors on Thursday morning, Stock Target Advisor reports. They currently have an overweight rating on the stock.

SPOT has been the subject of a number of other reports. Pivotal Research dropped their target price on shares of Spotify Technology from $155.00 to $150.00 and set a hold rating for the company in a research note on Wednesday. Raymond James boosted their target price on shares of Spotify Technology from $172.00 to $180.00 and gave the stock a strong-buy rating in a research note on Thursday, July 25th. Evercore ISI downgraded shares of Spotify Technology from an in-line rating to an underperform rating in a research note on Monday, June 24th. ValuEngine raised shares of Spotify Technology from a buy rating to a strong-buy rating in a research note on Thursday. Finally, Royal Bank of Canada reiterated a buy rating and set a $185.00 price target on shares of Spotify Technology in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Spotify Technology has a consensus rating of Buy and an average price target of $170.00.

Shares of NYSE SPOT traded down $2.14 during trading on Thursday, reaching $153.47. The company had a trading volume of 953,839 shares, compared to its average volume of 1,434,785. Spotify Technology has a 52 week low of $103.29 and a 52 week high of $196.95. The stock has a market cap of $28.14 billion, a PE ratio of -255.78 and a beta of 1.84. The company has a current ratio of 0.76, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $148.57.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Wednesday, July 31st. The company reported ($0.47) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.04. Spotify Technology had a net margin of 4.48% and a return on equity of 13.23%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.83 billion. As a group, equities analysts expect that Spotify Technology will post -2.69 EPS for the current 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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Analyst Recommendations for Spotify Technology (NYSE:SPOT)

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