Pivotal Research Raises Spotify Technology (NYSE:SPOT) Price Target to $565.00

Spotify Technology (NYSE:SPOT) had its price objective hoisted by investment analysts at Pivotal Research from $510.00 to $565.00 in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the stock. Pivotal Research’s price objective points to a potential upside of 34.74% from the company’s current price.

SPOT has been the topic of several other reports. Wells Fargo & Company lifted their price target on Spotify Technology from $420.00 to $470.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lifted their target price on Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Barclays lifted their target price on Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Phillip Securities restated an “accumulate” rating and issued a $485.00 target price (up from $420.00) on shares of Spotify Technology in a report on Wednesday. Finally, Macquarie lifted their target price on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $387.55.

Spotify Technology Stock Up 2.2 %

Shares of SPOT stock opened at $419.32 on Wednesday. Spotify Technology has a 1 year low of $169.02 and a 1 year high of $420.00. The stock has a market cap of $83.47 billion, a PE ratio of 171.15 and a beta of 1.56. The business’s fifty day moving average is $367.88 and its 200-day moving average is $333.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.

Institutional Trading of Spotify Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WCM Investment Management LLC grew its stake in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Spotify Technology by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after buying an additional 102,786 shares during the last quarter. GQG Partners LLC bought a new stake in Spotify Technology during the first quarter worth about $610,040,000. Bamco Inc. NY grew its stake in Spotify Technology by 28.3% during the first quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after buying an additional 190,931 shares during the last quarter. Finally, Swedbank AB grew its stake in Spotify Technology by 13.2% during the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after buying an additional 99,730 shares during the last quarter. 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.