Fintel reports that on April 21, 2023, Benchmark maintained coverage of Spotify Technology (NYSE:SPOT) with a Buy recommendation.
Analyst Price Forecast Suggests 0.79% Upside
As of April 6, 2023, the average one-year price target for Spotify Technology is $134.38. The forecasts range from a low of $85.85 to a high of $194.25. The average price target represents an increase of 0.79% from its latest reported closing price of $133.33.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Spotify Technology is $13,855MM, an increase of 18.15%. The projected annual non-GAAP EPS is -$1.88.
What are Other Shareholders Doing?
FMDGX - Fidelity Mid Cap Growth Index Fund holds 23K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 22K shares, representing an increase of 3.56%. The firm decreased its portfolio allocation in SPOT by 11.18% over the last quarter.
CMIEX - Multi-Manager International Equity Strategies Fund Institutional Class holds 44K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 48K shares, representing a decrease of 8.62%. The firm decreased its portfolio allocation in SPOT by 34.56% over the last quarter.
VT - Vanguard Total World Stock Index Fund ETF Shares holds 73K shares representing 0.04% ownership of the company. In it's prior filing, the firm reported owning 71K shares, representing an increase of 2.71%. The firm increased its portfolio allocation in SPOT by 25.74% over the last quarter.
BBTLX - Bridge Builder Tax Managed Large Cap Fund holds 36K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 6K shares, representing an increase of 83.50%. The firm decreased its portfolio allocation in SPOT by 14.47% over the last quarter.
Corient Capital Partners holds 2K shares representing 0.00% ownership of the company. No change in the last quarter.
What is the Fund Sentiment?
There are 857 funds or institutions reporting positions in Spotify Technology. This is a decrease of 13 owner(s) or 1.49% in the last quarter. Average portfolio weight of all funds dedicated to SPOT is 0.45%, an increase of 11.57%. Total shares owned by institutions decreased in the last three months by 1.39% to 116,501K shares. 
The put/call ratio of SPOT is 1.01, indicating a bearish outlook.
Spotify Technology Background Information
(This description is provided by the company.)
Spotify is the world's most popular audio streaming subscription service with a community of 345 million Monthly Active Users and 155 million Premium Subscribers. With a presence in 93 markets, and more than 70 million tracks including over 2 million podcast titles, it has transformed the way people access and enjoy music and podcasts.
This story originally appeared on Fintel.
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