Spotify Technology (NYSE:SPOT) Price Target Raised to $416.00

Spotify Technology (NYSE:SPOT) had its price objective boosted by TD Cowen from $356.00 to $416.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

SPOT has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday. Benchmark upped their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Evercore ISI raised their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Pivotal Research upped their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price target on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $421.69.

Spotify Technology Stock Down 4.0 %

Shares of NYSE SPOT opened at $458.49 on Wednesday. The firm has a market cap of $91.26 billion, a P/E ratio of 124.59 and a beta of 1.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. Spotify Technology has a 1 year low of $170.62 and a 1 year high of $489.69. The firm’s 50 day moving average price is $378.15 and its 200 day moving average price is $337.83.

Institutional Trading of Spotify Technology

A number of hedge funds have recently made changes to their positions in the stock. Aigen Investment Management LP boosted its stake in Spotify Technology by 42.4% during the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after acquiring an additional 2,918 shares during the last quarter. Pathway Capital Management LP raised its stake in shares of Spotify Technology by 23.8% in the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after purchasing an additional 11,042 shares in the last quarter. Perpetual Ltd raised its stake in shares of Spotify Technology by 24.3% in the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after purchasing an additional 148,431 shares in the last quarter. Jag Capital Management LLC bought a new position in shares of Spotify Technology during the third quarter worth about $13,569,000. Finally, Northeast Investment Management grew its stake in Spotify Technology by 67.6% in the third quarter. Northeast Investment Management now owns 12,991 shares of the company’s stock worth $4,788,000 after purchasing an additional 5,240 shares in the last quarter. Institutional investors and hedge funds 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.