Spotify Technology (NYSE:SPOT) Rating Reiterated by Cantor Fitzgerald

by · The Cerbat Gem

Cantor Fitzgerald reaffirmed their neutral rating on shares of Spotify Technology (NYSE:SPOT – Free Report) in a research report report published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $340.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group restated a buy rating and set a $385.00 price target (up previously from $242.00) on shares of Spotify Technology in a research note on Thursday, July 11th. Bank of America boosted their price target on shares of Spotify Technology from $370.00 to $380.00 and gave the company a buy rating in a report on Tuesday, July 2nd. Guggenheim increased their price objective on shares of Spotify Technology from $400.00 to $420.00 and gave the company a buy rating in a research note on Wednesday, July 24th. KeyCorp boosted their price objective on shares of Spotify Technology from $420.00 to $440.00 and gave the stock an overweight rating in a research note on Monday, September 16th. Finally, Benchmark reaffirmed a buy rating and set a $405.00 target price on shares of Spotify Technology in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $359.14.

Get Our Latest Stock Report on SPOT

Spotify Technology Trading Up 1.0 %

NYSE SPOT opened at $374.13 on Monday. Spotify Technology has a 12 month low of $145.76 and a 12 month high of $389.23. The company’s 50-day moving average price is $346.09 and its 200-day moving average price is $317.34. The stock has a market cap of $74.47 billion, a PE ratio of -558.39 and a beta of 1.58. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31.

Spotify Technology (NYSE:SPOT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.25. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the firm posted ($1.69) earnings per share. The company’s revenue was up 19.8% on a year-over-year basis. Equities research analysts forecast that Spotify Technology will post 6.24 earnings per share for the current year.

Institutional Investors Weigh In On Spotify Technology

Hedge funds have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology in the 2nd quarter valued at about $25,000. Benjamin Edwards Inc. lifted its holdings in Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Larson Financial Group LLC boosted its position in Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Mather Group LLC. grew its stake in shares of Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares during the period. Finally, Asset Dedication LLC purchased a new position in shares of Spotify Technology during the 2nd quarter valued at approximately $35,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Company Profile

(Get Free Report)

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. 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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