Spotify Technology SA (NYSE:SPOT) has been given an average broker rating score of 1.76 (Buy) from the nineteen analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell recommendation, five have given a hold recommendation, one has assigned a buy recommendation and twelve have given a strong buy recommendation to the company. Spotify Technology’s rating score has declined by 4.1% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus price objective of $190.14 for the company and are forecasting 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 93 out of 256 based on the ratings given to related companies.
Several brokerages have recently commented on SPOT. Goldman Sachs Group reaffirmed a “buy” rating and set a $170.00 target price on shares of Spotify Technology in a report on Tuesday, April 30th. Pivotal Research reaffirmed a “buy” rating and set a $165.00 target price on shares of Spotify Technology in a report on Monday, April 29th. Finally, UBS Group upped their target price on Spotify Technology from $180.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, April 30th.
Spotify Technology (NYSE:SPOT) last announced its earnings results on Monday, April 29th. The company reported ($0.90) EPS 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 for the quarter, compared to analysts’ expectations of $1.67 billion. As a group, sell-side analysts expect that Spotify Technology will post -2.13 EPS for the current fiscal year.
Spotify Technology Company Profile
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.
Featured Article: Are all No-Load Funds Equal?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter.