Spotify Technology SA (NYSE: SPOT) gave a consensus rating of “Hold” by analysts
The shares of Spotify Technology SA (NYSE: SPOT) have received an average recommendation of “Hold” by the thirty-four research companies that currently cover the company, Market assessments reports. Five research analysts rated the stock with a sell rating, fourteen issued a sustaining rating, and eleven assigned a buy rating to the company. The twelve-month average target price among brokers who hedged the stock in the past year is $ 297.36.
A number of research analysts recently commented on the company. Barclays raised its price target on Spotify technology from $ 310.00 to $ 340.00 in a report on Thursday, February 4. Morgan Stanley raised its price target on Spotify Technology from $ 300.00 to $ 350.00 and rated the stock “overweight” in a report on Thursday, December 17. Rosenblatt Securities raised its price target on Spotify Technology from $ 390.00 to $ 425.00 and gave the company a “buy” rating in a research note on Monday, March 1. Canaccord Genuity raised its target price on Spotify technology from $ 375.00 to $ 400.00 and gave the company a “buy” rating in a research note on Monday, March 1. Finally, Smith Barney Citigroup downgraded Spotify Technology from a “neutral” rating to a “sell” rating in a research note on Friday, January 15.
Several hedge funds and other institutional investors have recently increased or reduced their holdings in SPOT. Jennison Associates LLC increased its position in shares of Spotify Technology by 45.2% during the fourth quarter. Jennison Associates LLC now owns 6,036,247 shares of the company valued at $ 1,899,365,000 after purchasing an additional 1,880,170 shares during the period. Norges Bank acquired a new stake in Spotify Technology in the 4th quarter, valued at approximately $ 301,189,000. Price T Rowe Associates Inc. MD increased its position in Spotify Technology by 6.5% in Q4. Price T Rowe Associates Inc. MD now owns 14,252,970 shares of the company valued at $ 4,484,840,000 after purchasing an additional 864,572 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in Spotify Technology by 50.0% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,063,514 shares of the company valued at $ 334,645,000 after purchasing an additional 354,587 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Spotify Technology by 48.8% in the 4th quarter. Wells Fargo & Company MN now owns 753,248 shares of the company valued at $ 237,018,000 after purchasing an additional 246,990 shares during the last quarter. 55.93% of the stock is currently held by institutional investors.
Actions of Spotify technology stock open for $ 299.74 on Fridays. The stock has a market cap of $ 53.73 billion, a P / E ratio of -70.36 and a beta of 1.64. The stock has a 50-day moving average price of $ 280.14 and a two-hundred-day moving average price of $ 295.30. Spotify technology has a 12-month low of $ 136.03 and a 12-month high of $ 387.44.
Spotify Technology (NYSE: SPOT) last released its quarterly results on Wednesday, February 3. The company reported EPS of ($ 0.66) for the quarter, beating analyst consensus estimates of ($ 0.76) by $ 0.10. Spotify Technology recorded a negative return on equity of 30.46% and a negative net margin of 8.73%. The company posted revenue of $ 2.16 billion in the quarter, compared to analysts’ estimates of $ 2.15 billion. During the same period of the previous year, the company made earnings per share ($ 1.14). The company’s quarterly revenue increased 16.3% compared to the same quarter last year. Analysts expect Spotify Technology to post an EPS of -3.71 for the current year.
About Spotify technology
Spotify Technology SA, along with its subsidiaries, provides audio streaming services worldwide. It operates in two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its music and podcast catalog without ad interruption to its subscribers.
Read more: Trade war
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured article: What’s the quick ratio?
7 lithium stocks that will fuel the electric vehicle boom
The demand for lithium is expected to increase exponentially over the next several years. In fact, according to Statista, demand for lithium could very well double to 820,000 tonnes during this period. Some of that demand will come from companies that make the batteries we use every day. For example, lithium is an essential component of the batteries that power our mobile devices.
But the real growth will come as the United States fully embarks on electric vehicles (EVs). The Biden administration recently announced its intention to convert the US government’s fleet of more than 600,000 vehicles to electric vehicles.
And as you know, EV stocks are in a kind of bubble right now. Part of the reason is the growing number of companies that went public last year. However, as investors are starting to realize, not all of these companies will be the next Tesla. In fact, some of these companies may never succeed in bringing an electric vehicle to market, at least not on the scale that will be required.
Those who make it will need lithium and a lot of it. To help you browse the best lithium stocks to buy, we’ve prepared this special overview.
See “7 lithium stocks that will fuel the electric vehicle boom”.