Spotify Technology SA (NYSE:SPOT) Given Consensus Recommendation of “Buy” by Analysts

Spotify Technology SA (NYSE:SPOT) has earned a consensus rating of “Buy” from the twelve analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $170.25.

Several equities analysts have recently weighed in on SPOT shares. Loop Capital upgraded shares of Spotify Technology from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley lifted their target price on shares of Spotify Technology from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. SunTrust Banks lifted their target price on shares of Spotify Technology to $172.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. ValuEngine upgraded shares of Spotify Technology from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $185.00 target price on shares of Spotify Technology in a research note on Wednesday, July 31st.

Shares of SPOT stock traded down $2.93 on Friday, hitting $138.02. The stock had a trading volume of 1,407,249 shares, compared to its average volume of 1,360,790. The company’s 50 day moving average is $150.18. The company has a market cap of $25.49 billion, a PE ratio of -230.03 and a beta of 1.85. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.76 and a current ratio of 0.76. Spotify Technology has a 12-month low of $103.29 and a 12-month high of $196.95.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. Spotify Technology had a net margin of 4.48% and a return on equity of 13.23%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.83 billion. As a group, equities analysts forecast that Spotify Technology will post -2.21 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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Analyst Recommendations for Spotify Technology (NYSE:SPOT)

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