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

Shares of Spotify Technology S.A. (NYSE:SPOT) 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.

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

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.