Spotify Technology (NYSE:SPOT) PT Raised to $175.00

Spotify Technology (NYSE:SPOT) had its price target boosted by Stifel Nicolaus from $170.00 to $175.00 in a report released on Thursday, Stock Target Advisor reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently commented on SPOT. Royal Bank of Canada reaffirmed a buy rating and set a $185.00 price target on shares of Spotify Technology in a research report on Wednesday. UBS Group cut shares of Spotify Technology from a buy rating to a hold rating and reduced their price target for the stock from $155.00 to $150.00 in a research report on Wednesday. Loop Capital raised shares of Spotify Technology from a sell rating to a hold rating in a research report on Thursday. Pivotal Research reduced their price target on shares of Spotify Technology from $155.00 to $150.00 and set a hold rating on the stock in a research report on Wednesday. Finally, Raymond James increased their price target on shares of Spotify Technology from $172.00 to $180.00 and gave the stock a strong-buy rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued 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 price target of $170.00.

NYSE:SPOT traded down $2.14 on Thursday, reaching $153.47. The stock had a trading volume of 953,839 shares, compared to its average volume of 1,434,785. 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 stock’s 50-day moving average price is $148.57. The company has a market cap of $28.14 billion, a PE ratio of -255.78 and a beta of 1.84. Spotify Technology has a 12-month low of $103.29 and a 12-month high of $196.95.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.47) EPS 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 business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.83 billion. As a group, equities analysts predict that Spotify Technology will post -2.69 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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Analyst Recommendations for Spotify Technology (NYSE:SPOT)

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