Zacks: Spotify Technology SA (NYSE:SPOT) Given $189.63 Consensus Price Target by Analysts
Spotify Technology SA (NYSE:SPOT) has been given a consensus broker rating score of 1.83 (Buy) from the fifteen analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell recommendation, four have given a hold recommendation, one has assigned a buy recommendation and nine have issued a strong buy recommendation on the company. Spotify Technology’s rating score has declined by 8.3% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 12-month consensus target price of $189.63 for the company and are forecasting that the company will post ($0.52) EPS for the current quarter, according to Zacks. Zacks has also given Spotify Technology an industry rank of 110 out of 256 based on the ratings given to related companies.
A number of brokerages recently commented on SPOT. UBS Group increased their price target on Spotify Technology from $180.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Evercore ISI cut Spotify Technology from an “in-line” rating to an “underperform” rating in a research note on Monday, June 24th. Goldman Sachs Group set a €152.00 ($176.74) price objective on Aena SME and gave the company a “sell” rating in a research note on Tuesday, April 30th. Finally, Pivotal Research restated a “buy” rating and set a $165.00 price objective on shares of Spotify Technology in a research note on Monday, April 29th.
Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Monday, April 29th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.53). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Spotify Technology had a negative net margin of 1.08% and a positive return on equity of 13.72%. Equities research analysts forecast that Spotify Technology will post -2.7 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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