Shares of Spotify Technology SA (NYSE:SPOT) have been assigned a consensus broker rating score of 1.83 (Buy) from the fifteen analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell recommendation, four have issued 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% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 12-month consensus target price of $189.63 for the company and are expecting that the company will post ($0.52) earnings per share 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 its competitors.
A number of brokerages have commented on SPOT. Pivotal Research restated a “buy” rating and set a $165.00 price objective on shares of Spotify Technology in a research report on Monday, April 29th. Evercore ISI lowered Spotify Technology from an “in-line” rating to an “underperform” rating in a research report on Monday, June 24th. Goldman Sachs Group set a €152.00 ($176.74) price objective on Aena SME and gave the stock a “sell” rating in a research report on Tuesday, April 30th. Finally, UBS Group raised their price objective on Spotify Technology from $180.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th.
Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Monday, April 29th. The company reported ($0.90) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.53). Spotify Technology had a positive return on equity of 13.72% and a negative net margin of 1.08%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. As a group, sell-side analysts expect that Spotify Technology will post -2.7 earnings per share 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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