Jefferies Monetary Group Lowers Spotify Expertise (NYSE:SPOT) Value Goal to $275.00

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Spotify Expertise (NYSE:SPOT) had its worth goal diminished by equities analysis analysts at Jefferies Monetary Group from $358.00 to $275.00 in a report launched on Thursday, Value Targets.com studies. The agency presently has a “purchase” score on the inventory. Jefferies Monetary Group’s worth goal signifies a possible upside of 57.66% from the inventory’s earlier shut. Jefferies Monetary Group additionally issued estimates for Spotify Expertise’s Q1 2022 earnings at ($0.13) EPS, This autumn 2022 earnings at ($0.19) EPS and FY2026 earnings at $7.88 EPS.

Different equities analysts have additionally issued studies in regards to the inventory. Citigroup raised shares of Spotify Expertise from a “impartial” score to a “purchase” score and diminished their goal worth for the inventory from $275.00 to $240.00 in a analysis report on Monday, January thirty first. Barclays reduce their worth goal on shares of Spotify Expertise from $310.00 to $280.00 and set an “chubby” score on the inventory in a report on Thursday. Pivotal Analysis reduce their worth goal on shares of Spotify Expertise from $385.00 to $235.00 and set a “purchase” score on the inventory in a report on Thursday. Rosenblatt Securities reduce their worth goal on shares of Spotify Expertise from $350.00 to $220.00 and set a “purchase” score on the inventory in a report on Thursday. Lastly, KeyCorp reduce their worth goal on shares of Spotify Expertise from $365.00 to $260.00 in a report on Thursday, January twenty seventh. Three equities analysis analysts have rated the inventory with a promote score, eight have given a maintain score and fifteen have given a purchase score to the inventory. In response to knowledge from MarketBeat.com, Spotify Expertise presently has a consensus score of “Maintain” and a median worth goal of $255.22.

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Shares of NYSE SPOT opened at $174.43 on Thursday. The corporate has a debt-to-equity ratio of 0.56, a present ratio of 1.31 and a fast ratio of 1.31. The corporate has a market cap of $33.18 billion, a P/E ratio of -96.91 and a beta of 1.59. Spotify Expertise has a 1 yr low of $155.57 and a 1 yr excessive of $387.44. The agency has a 50-day easy transferring common of $219.86 and a two-hundred day easy transferring common of $235.47.

Spotify Expertise (NYSE:SPOT) final issued its earnings outcomes on Wednesday, February 2nd. The corporate reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.23. The enterprise had income of $2.69 billion for the quarter, in comparison with analyst estimates of $2.65 billion. Spotify Expertise had a damaging web margin of 1.31% and a damaging return on fairness of 4.45%. The corporate’s quarterly income was up 24.0% in comparison with the identical quarter final yr. Throughout the identical interval final yr, the corporate posted ($0.79) earnings per share. As a gaggle, equities analysis analysts anticipate that Spotify Expertise will publish -1.32 EPS for the present yr.

Hedge funds and different institutional traders have lately purchased and offered shares of the inventory. Boussard & Gavaudan Funding Administration LLP acquired a brand new place in Spotify Expertise throughout the third quarter valued at $6,185,000. Principal Monetary Group Inc. raised its place in shares of Spotify Expertise by 0.4% within the third quarter. Principal Monetary Group Inc. now owns 214,966 shares of the corporate’s inventory value $48,440,000 after buying a further 815 shares throughout the interval. Baltimore Washington Monetary Advisors Inc. raised its place in shares of Spotify Expertise by 4.7% within the third quarter. Baltimore Washington Monetary Advisors Inc. now owns 30,948 shares of the corporate’s inventory value $6,974,000 after buying a further 1,384 shares throughout the interval. Cullinan Associates Inc. acquired a brand new place in shares of Spotify Expertise within the third quarter value about $225,000. Lastly, Hyperion Asset Administration Ltd raised its place in shares of Spotify Expertise by 22.8% within the second quarter. Hyperion Asset Administration Ltd now owns 266,749 shares of the corporate’s inventory value $73,513,000 after buying a further 49,467 shares throughout the interval. Institutional traders personal 56.36% of the corporate’s inventory.

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About Spotify Expertise

Spotify Expertise SA is a digital music service providing music followers immediate entry to a world of music. The corporate operates by means of the next segments: Premium and Advert-Supported. The Premium phase gives subscribers with limitless on-line and offline high-quality streaming entry of music and podcasts on computer systems, tablets, and cellular gadgets, customers can join by means of audio system, receivers, televisions, vehicles, recreation consoles, and sensible watches.

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