Brokerages Set Spotify Technology S.A. (NYSE:SPOT) Price Target at $376.21

Shares of Spotify Technology S.A. (NYSE:SPOTGet Free Report) have been assigned an average rating of “Moderate Buy” from the twenty-eight ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and twenty-two have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $381.04.

Several equities analysts recently issued reports on the company. Cantor Fitzgerald restated a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a research note on Monday, October 7th. The Goldman Sachs Group raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $320.00 to $425.00 in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, DZ Bank upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Wednesday, July 24th.

Get Our Latest Stock Analysis on SPOT

Institutional Investors Weigh In On Spotify Technology

Institutional investors have recently added to or reduced their stakes in the company. Norden Group LLC acquired a new stake in shares of Spotify Technology in the first quarter valued at $302,000. Larson Financial Group LLC lifted its holdings in Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Csenge Advisory Group bought a new position in shares of Spotify Technology during the 1st quarter valued at about $231,000. Duality Advisers LP grew its stake in shares of Spotify Technology by 58.0% in the 1st quarter. Duality Advisers LP now owns 7,039 shares of the company’s stock worth $1,858,000 after purchasing an additional 2,584 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Spotify Technology by 199.4% in the 1st quarter. SG Americas Securities LLC now owns 92,302 shares of the company’s stock worth $24,358,000 after purchasing an additional 61,478 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Up 2.2 %

NYSE:SPOT opened at $419.32 on Wednesday. The company has a market cap of $83.47 billion, a PE ratio of 171.15 and a beta of 1.56. The business’s 50 day moving average is $367.88 and its two-hundred day moving average is $333.81. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology has a 52 week low of $169.02 and a 52 week high of $420.00.

About Spotify Technology

(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.

Further Reading

Analyst Recommendations for Spotify Technology (NYSE:SPOT)

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