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

Spotify Technology S.A. (NYSE:SPOT) has received an average rating of “Moderate Buy” from the twenty-eight research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $381.04.

Several research analysts have weighed in on the company. Benchmark boosted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Monday. Macquarie increased their target price on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Rosenblatt Securities raised their price target on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of Spotify Technology from $420.00 to $470.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Pivotal Research raised their target price on shares of Spotify Technology from $460.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $419.32 on Wednesday. The company has a 50-day simple moving average of $367.88 and a 200-day simple moving average of $333.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $83.47 billion, a PE ratio of 171.15 and a beta of 1.56. Spotify Technology has a 12 month low of $169.02 and a 12 month high of $420.00.

Institutional Trading of Spotify Technology

Several large investors have recently modified their holdings of SPOT. First Horizon Advisors Inc. boosted its holdings in Spotify Technology by 5.8% in the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after purchasing an additional 26 shares during the last quarter. West Bancorporation Inc. boosted its stake in shares of Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after buying an additional 27 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after buying an additional 30 shares in the last quarter. Washington Trust Advisors Inc. increased its stake in shares of Spotify Technology by 12.0% in the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after buying an additional 32 shares during the last quarter. Finally, Rakuten Securities Inc. increased its stake in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after buying an additional 32 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

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.