Spotify (NYSE:SPOT) had its price objective increased by Loop Capital from $150.00 to $200.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have a hold rating on the stock.

SPOT has been the subject of several other research reports. SunTrust Banks raised their price objective on shares of Spotify from $167.00 to $290.00 and gave the stock a buy rating in a research note on Wednesday, July 15th. Morgan Stanley reissued a buy rating and set a $275.00 price objective on shares of Spotify in a report on Tuesday, July 28th. Zacks Investment Research downgraded shares of Spotify from a buy rating to a hold rating in a research note on Thursday, July 16th. UBS Group downgraded shares of Spotify from a buy rating to a sell rating and raised their target price for the company from $189.00 to $204.00 in a research note on Tuesday, July 14th. Finally, Royal Bank of Canada restated a buy rating and issued a $320.00 target price on shares of Spotify in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $228.74.

Shares of SPOT opened at $257.82 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.92 and a debt-to-equity ratio of 0.29. Spotify has a 1-year low of $109.18 and a 1-year high of $299.67. The firm has a fifty day simple moving average of $251.68 and a two-hundred day simple moving average of $173.63.

Spotify (NYSE:SPOT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($1.91) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($1.42). Spotify had a negative return on equity of 15.49% and a negative net margin of 4.28%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the company posted ($0.42) EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, analysts forecast that Spotify will post -1.64 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of SPOT. Ameritas Investment Company LLC acquired a new position in Spotify during the first quarter valued at $42,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Spotify during the first quarter valued at $45,000. Aigen Investment Management LP acquired a new position in Spotify during the first quarter valued at $51,000. Eudaimonia Partners LLC acquired a new position in Spotify during the first quarter valued at $55,000. Finally, Verus Capital Partners LLC acquired a new position in Spotify during the fourth quarter valued at $59,000. Institutional investors own 54.77% of the company’s stock.

About Spotify

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.

Read More: Initial Public Offering (IPO)

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Analyst Recommendations for Spotify (NYSE:SPOT)

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