UBS Group lowered shares of Spotify Technology (NYSE:SPOT) from a buy rating to a hold rating in a research report released on Wednesday, Stock Target Advisor reports. They currently have $150.00 price target on the stock, down from their previous price target of $155.00.
Several other analysts have also recently weighed in on SPOT. Raymond James boosted their price objective 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. Goldman Sachs Group reissued a buy rating and issued a $170.00 price objective on shares of Spotify Technology in a research note on Tuesday, April 30th. Pivotal Research reissued a buy rating and issued a $165.00 price objective on shares of Spotify Technology in a research note on Monday, April 29th. Royal Bank of Canada reissued a buy rating and issued a $185.00 price objective on shares of Spotify Technology in a research note on Wednesday. Finally, Evercore ISI cut shares of Spotify Technology from an in-line rating to an underperform rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $170.00.
Shares of Spotify Technology stock traded down $2.14 during trading on Wednesday, hitting $153.47. The company’s stock had a trading volume of 953,839 shares, compared to its average volume of 1,434,785. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.76. Spotify Technology has a 52 week low of $103.29 and a 52 week high of $196.95. The stock has a market capitalization of $28.14 billion, a PE ratio of -255.78 and a beta of 1.84. The firm’s 50-day moving average is $148.57.
Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.47) earnings per share for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $1.83 billion. Analysts predict that Spotify Technology will post -2.69 EPS for the current fiscal 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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