Spotify Technology (NYSE:SPOT) Price Target Raised to $475.00 at Barclays

Spotify Technology (NYSE:SPOT) had its price target upped by equities researchers at Barclays from $385.00 to $475.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 4.12% from the company’s previous close.

Several other analysts have also issued reports on the company. Pivotal Research upped their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday. Rosenblatt Securities lifted their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. TD Cowen lifted their price target on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Guggenheim lifted their price target on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $396.17.

Spotify Technology Price Performance

NYSE:SPOT traded up $36.81 during trading hours on Wednesday, hitting $456.20. 5,543,713 shares of the company’s stock traded hands, compared to its average volume of 1,887,435. The firm has a market cap of $90.81 billion, a P/E ratio of 124.32 and a beta of 1.56. Spotify Technology has a 52 week low of $170.62 and a 52 week high of $462.39. The business’s fifty day simple moving average is $369.70 and its two-hundred day simple moving average is $334.73. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Spotify Technology

Several large investors have recently modified their holdings of SPOT. Transcendent Capital Group LLC purchased a new position in Spotify Technology in the 2nd quarter worth about $25,000. Benjamin Edwards Inc. raised its position in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Larson Financial Group LLC raised its position in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the last quarter. Mather Group LLC. raised its position in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Spotify Technology in the 3rd quarter worth about $40,000. Hedge funds and other 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.