Spotify Technology (NYSE:SPOT) Earns Buy Rating from KeyCorp

Spotify Technology (NYSE:SPOT - Get Rating)'s stock had its "buy" rating reissued by stock analysts at KeyCorp in a note issued to investors on Friday, TipRanks reports. They presently have a $210.00 target price on the stock. KeyCorp's target price indicates a potential upside of 87.12% from the stock's current price.

SPOT has been the topic of a number of other reports. Evercore ISI lowered their price objective on shares of Spotify Technology from $365.00 to $300.00 and set an "outperform" rating on the stock in a report on Thursday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Spotify Technology from $140.00 to $115.00 in a report on Thursday, April 28th. Credit Suisse Group decreased their price objective on shares of Spotify Technology from $270.00 to $238.00 and set a "neutral" rating on the stock in a report on Thursday, February 3rd. The Goldman Sachs Group decreased their price objective on shares of Spotify Technology from $181.00 to $150.00 in a report on Wednesday, April 27th. Finally, Bank of America reduced their target price on shares of Spotify Technology from $352.00 to $262.00 and set a "buy" rating for the company in a research report on Tuesday, February 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $213.45.

Spotify Technology stock traded down $4.27 during midday trading on Friday, hitting $112.23. 1,086,953 shares of the stock were exchanged, compared to its average volume of 2,292,122. The company has a fifty day simple moving average of $119.97 and a two-hundred day simple moving average of $169.09. Spotify Technology has a 52 week low of $89.03 and a 52 week high of $305.60. The stock has a market capitalization of $21.35 billion, a PE ratio of -158.07 and a beta of 1.79.

Spotify Technology (NYSE:SPOT - Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.40. Spotify Technology had a net margin of 0.68% and a return on equity of 3.02%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the firm earned ($0.30) EPS. Spotify Technology's quarterly revenue was up 23.9% compared to the same quarter last year. On average, research analysts forecast that Spotify Technology will post -0.59 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its position in Spotify Technology by 26.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,358 shares of the company's stock worth $1,722,000 after buying an additional 1,558 shares during the last quarter. Eidelman Virant Capital lifted its position in Spotify Technology by 4.0% in the 4th quarter. Eidelman Virant Capital now owns 21,776 shares of the company's stock worth $5,120,000 after buying an additional 835 shares during the last quarter. Nordea Investment Management AB lifted its position in Spotify Technology by 977.9% in the 4th quarter. Nordea Investment Management AB now owns 44,971 shares of the company's stock worth $10,826,000 after buying an additional 40,799 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Spotify Technology in the 4th quarter worth approximately $43,000. Finally, CWM LLC bought a new stake in Spotify Technology in the 4th quarter worth approximately $3,038,000. Hedge funds and other institutional investors own 56.36% of the company's stock.

Spotify Technology Company Profile (Get Rating)

Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

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