Spotify Technology (NYSE:SPOT) PT Raised to $355.00 at HSBC

Spotify Technology (NYSE:SPOT) had its target price lifted by stock analysts at HSBC from $310.00 to $355.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HSBC’s price objective suggests a potential upside of 22.75% from the company’s previous close.

SPOT has been the subject of a number of other research reports. Canaccord Genuity Group boosted their target price on Spotify Technology from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Monday. Loop Capital increased their price objective on shares of Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday. Macquarie raised their target price on shares of Spotify Technology from $300.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Company upped their price target on shares of Spotify Technology from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, TheStreet raised Spotify Technology from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $301.81.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $289.20 on Wednesday. The firm has a market capitalization of $57.36 billion, a price-to-earnings ratio of -431.64 and a beta of 1.63. The company has a 50 day moving average price of $270.61 and a 200 day moving average price of $217.74. Spotify Technology has a one year low of $128.67 and a one year high of $319.30.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.42. Spotify Technology had a negative return on equity of 4.91% and a negative net margin of 0.80%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the firm earned ($1.24) earnings per share. As a group, equities analysts forecast that Spotify Technology will post 3.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Lindbrook Capital LLC raised its position in shares of Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Spotify Technology by 4.4% during the fourth quarter. Signaturefd LLC now owns 1,222 shares of the company’s stock worth $230,000 after purchasing an additional 51 shares during the period. Summit Trail Advisors LLC lifted its position in shares of Spotify Technology by 3.5% in the 4th quarter. Summit Trail Advisors LLC now owns 1,664 shares of the company’s stock worth $313,000 after buying an additional 56 shares during the last quarter. Private Trust Co. NA lifted its position in shares of Spotify Technology by 18.4% in the 4th quarter. Private Trust Co. NA now owns 367 shares of the company’s stock worth $69,000 after buying an additional 57 shares during the last quarter. Finally, Delta Asset Management LLC TN boosted its holdings in shares of Spotify Technology by 6.7% in the 4th quarter. Delta Asset Management LLC TN now owns 960 shares of the company’s stock valued at $180,000 after buying an additional 60 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Company Profile

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.