Truist Monetary Lowers Spotify Expertise (NYSE:SPOT) Value Goal to $266.00

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Spotify Expertise (NYSE:SPOT) had its goal value diminished by Truist Monetary from $300.00 to $266.00 in a analysis report despatched to traders on Thursday morning, Value Targets.com stories. They at the moment have a purchase ranking on the inventory.

Different equities analysts have additionally just lately issued analysis stories concerning the firm. Benchmark started protection on Spotify Expertise in a report on Wednesday, November twenty fourth. They set a purchase ranking and a $300.00 value goal for the corporate. Sanford C. Bernstein upgraded Spotify Expertise from an underperform ranking to a market carry out ranking and set a $300.00 value goal for the corporate in a report on Monday, November 1st. Pivotal Analysis dropped their value goal on Spotify Expertise from $385.00 to $235.00 and set a purchase ranking for the corporate in a report on Thursday. Rosenblatt Securities decreased their goal value on Spotify Expertise from $350.00 to $220.00 and set a purchase ranking for the corporate in a analysis report on Thursday. Lastly, Monness Crespi & Hardt decreased their goal value on Spotify Expertise from $380.00 to $240.00 and set a purchase ranking for the corporate in a analysis report on Wednesday, January twenty sixth. Three funding analysts have rated the inventory with a promote ranking, eight have given a maintain ranking and fifteen have given a purchase ranking to the corporate. Primarily based on knowledge from MarketBeat.com, the inventory has a consensus ranking of Maintain and a consensus goal value of $255.22.

Shares of Spotify Expertise inventory opened at $174.43 on Thursday. The inventory has a market cap of $33.18 billion, a price-to-earnings ratio of -96.91 and a beta of 1.59. The corporate has a debt-to-equity ratio of 0.56, a fast ratio of 1.31 and a present ratio of 1.31. The inventory has a 50 day transferring common value of $219.86 and a 200-day transferring common value of $235.39. Spotify Expertise has a one 12 months low of $155.57 and a one 12 months excessive of $387.44.

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Spotify Expertise (NYSE:SPOT) final introduced 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 agency had income of $2.69 billion throughout the quarter, in comparison with analysts’ expectations of $2.65 billion. Spotify Expertise had a detrimental return on fairness of 4.45% and a detrimental internet margin of 1.31%. The corporate’s quarterly income was up 24.0% on a year-over-year foundation. Throughout the identical quarter within the earlier 12 months, the enterprise earned ($0.79) EPS. Promote-side analysts predict that Spotify Expertise will publish -1.32 earnings per share for the present fiscal 12 months.

Institutional traders have just lately purchased and bought shares of the enterprise. IFP Advisors Inc grew its stake in Spotify Expertise by 71.6% throughout the 4th quarter. IFP Advisors Inc now owns 151 shares of the corporate’s inventory valued at $35,000 after buying an extra 63 shares over the last quarter. Fifth Third Bancorp grew its stake in Spotify Expertise by 55.0% throughout the 4th quarter. Fifth Third Bancorp now owns 155 shares of the corporate’s inventory valued at $36,000 after buying an extra 55 shares over the last quarter. Lindbrook Capital LLC grew its stake in Spotify Expertise by 38.5% throughout the third quarter. Lindbrook Capital LLC now owns 169 shares of the corporate’s inventory valued at $38,000 after buying an extra 47 shares over the last quarter. Rosenberg Matthew Hamilton bought a brand new stake in Spotify Expertise throughout the 4th quarter valued at about $45,000. Lastly, Herold Advisors Inc. bought a brand new stake in Spotify Expertise throughout the third quarter valued at about $45,000. Institutional traders and hedge funds 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 way of the next segments: Premium and Advert-Supported. The Premium phase offers 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 way of audio system, receivers, televisions, vehicles, recreation consoles, and good watches.

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