Spotify Technology SA (NYSE:SPOT) Receives Consensus Recommendation of “Buy” from Analysts
Spotify Technology SA (NYSE:SPOT) has earned a consensus broker rating score of 1.62 (Buy) from the seventeen brokers that provide coverage for the company, Zacks Investment Research reports. Five analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and eleven have issued a strong buy recommendation on the company. Spotify Technology’s rating score has improved by 4.1% from three months ago as a result of various analysts’ ratings changes.
Brokers have set a 1 year consensus target price of $191.40 for the company and are predicting that the company will post ($0.56) EPS for the current quarter, according to Zacks. Zacks has also given Spotify Technology an industry rank of 108 out of 256 based on the ratings given to its competitors.
Several equities research analysts have weighed in on SPOT shares. UBS Group lifted their price target on shares of Spotify Technology from $180.00 to $182.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $170.00 price target on shares of Spotify Technology in a research note on Tuesday, April 30th. Finally, Pivotal Research reaffirmed a “buy” rating and issued a $165.00 price target on shares of Spotify Technology in a research note on Monday, April 29th.
Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Monday, April 29th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.53). Spotify Technology had a negative net margin of 1.08% and a positive return on equity of 13.72%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. On average, research analysts forecast that Spotify Technology will post -2.21 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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