Spotify Technology S.A. (SPOT:NYE) has been given a “Strong Buy” consensus rating by twenty-three ratings firms, according to a report by Stock Target Advisor Ratings. Out of those, eleven have given a buy rating while five have rated it as hold. The average 1-year price target among brokerages that have updated their coverage on Spotify stock is $122.63.
Spotify Stock-Analyst Ratings:
Several equity analysts have issued reports on SPOT shares. Bank of America, for instance, raised its target price from $120.00 to $143.00 in a research note on Friday, March 10th.
Morgan Stanley also upped its target price on shares of Spotify stock from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, February 1st.
Redburn Partners, on the other hand, upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Wednesday, March 1st.
Institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its stake in shares of Spotify Technology by 35.7% during the third quarter, while Privium Fund Management B.V. grew its stake in the company by 34.0%. Hedge funds and other institutional investors own 52.80% of Spotify stock.
Spotify Stock Price Analysis:
SPOT stock opened at $129.21 on Friday, with a 50-day moving average price of $112.98 and a 200-day moving average price of $95.22. Spotify Technology has a market capitalization of $24.98 billion, a PE ratio of -41.82 and a beta of 1.75.
The company reported a negative net margin of 3.48% and a negative return on equity of 17.78% for the quarter that ended January 31, 2022, and is expected to post -2.15 EPS for the current fiscal year.
Spotify Technology S.A., together with its subsidiaries, provides audio streaming services worldwide. It operates through two segments, Premium and Ad-Supported.
The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its subscribers on their computers, tablets, and compatible mobile devices.
The company also offers sales, distribution and marketing, contract research and development, and customer support services. Spotify Technology S.A. was incorporated in 2006 and is based in Luxembourg, Luxembourg.