Rosenblatt Securities Raises Spotify Technology (NYSE:SPOT) Price Target to $396.00

Spotify Technology (NYSE:SPOTFree Report) had its price target boosted by Rosenblatt Securities from $315.00 to $396.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group upped their price target on Spotify Technology from $315.00 to $330.00 and gave the stock a buy rating in a report on Monday, April 22nd. Barclays upped their price target on Spotify Technology from $270.00 to $335.00 and gave the stock an overweight rating in a report on Wednesday, April 10th. Loop Capital upped their price target on Spotify Technology from $165.00 to $250.00 and gave the stock a hold rating in a report on Monday, April 22nd. HSBC started coverage on Spotify Technology in a report on Wednesday, March 27th. They issued a buy rating and a $310.00 price target on the stock. Finally, UBS Group upped their price target on Spotify Technology from $274.00 to $375.00 and gave the stock a buy rating in a report on Friday, April 5th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $301.81.

Get Our Latest Analysis on SPOT

Spotify Technology Trading Up 0.2 %

NYSE SPOT opened at $289.59 on Wednesday. The business’s 50 day moving average is $271.48 and its two-hundred day moving average is $219.09. Spotify Technology has a 12-month low of $128.67 and a 12-month high of $319.30.

Spotify Technology (NYSE:SPOTGet Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.42. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. During the same quarter in the previous year, the firm posted ($1.24) EPS. Research analysts anticipate that Spotify Technology will post 4.49 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC purchased a new position in shares of Spotify Technology during the 1st quarter worth $40,000. Pinnacle Bancorp Inc. purchased a new position in shares of Spotify Technology in the 4th quarter worth $29,000. GAMMA Investing LLC purchased a new position in shares of Spotify Technology in the 4th quarter worth $32,000. First Horizon Advisors Inc. raised its position in shares of Spotify Technology by 195.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after buying an additional 117 shares during the period. Finally, Spire Wealth Management raised its position in shares of Spotify Technology by 93.1% in the 1st quarter. Spire Wealth Management now owns 197 shares of the company’s stock worth $52,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Company Profile

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Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription 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.

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Analyst Recommendations for Spotify Technology (NYSE:SPOT)

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